COVID-19 Resources
Our hearts go out to the individuals, businesses, and communities that have been affected by COVID-19 (coronavirus). Read the most up-to-date information on COVID-19’s effect on your business, taxes, and more.
Dean Dorton values our relationship with you, and we commit to staying connected with you and helping you through this unprecedented situation. If you have any questions, concerns or if there is anything we can do to help you at this time, please let your Dean Dorton engagement leader or Dean Dorton advisor know.
We wish you, your teams, and your loved ones all the very best.
SBA Loan Programs
Breaking News: The Paycheck Protection Program (PPP) will re-open next week
Breaking News: Earlier today (January 8, 2021), the U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced the Paycheck Protection Program (PPP) will re-open to eligible borrowers next week.
Newest COVID-19 Relief Package Extends and Enhances Employer Payroll Tax Credits
All eyes are on the latest COVID-19 relief package passed by Congress and awaiting President Trump's approval. This new bill extends two employer payroll tax credits—the employee retention credit and the credit for coronavirus-related paid sick and family leave. Because the President has not yet signed the bill, the information here is preliminary and subject to change.
Nine Months Later, A Second Economic Relief Package
It is expected that President Trump will sign into law the 2021 Congressional Appropriations Act (“Act”). We will be providing additional details related to the Act over the next several weeks, but this article provides a brief summary of three provisions.
Unnecessary Necessity Questionnaires and PPP2
Lenders are being required by SBA to send Loan Necessity Questionnaires to borrowers with Paycheck Protection Program (PPP) loans of $2 million or more. There are also questions surrounding a second round of PPP loans.
Tax
Breaking News: The Paycheck Protection Program (PPP) will re-open next week
Breaking News: Earlier today (January 8, 2021), the U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced the Paycheck Protection Program (PPP) will re-open to eligible borrowers next week.
Additional provider relief funds and changes in definition of lost revenue
The latest COVID-19 relief package passed by Congress has provided additional funding for healthcare providers. The package, titled the Consolidated Appropriations Act of 2021 (the Act), also included a new paycheck protection program and many other relief packages and tax changes. This article discusses the key components for provider relief funds (PRF).
A preview of COVID-19 economic relief provisions: The impact for nonprofit organizations
The Consolidated Appropriations Act 2021 (the Act), passed by Congress on December 21, 2020 and signed by President Trump on December 27, 2020, provides long awaited additional COVID-19 relief. Below are some highlights of the Act impacting nonprofits.
Federal tax provisions of the Consolidated Appropriations Act
As part of the Consolidated Appropriations Act, 2021 (the Act), many tax-related provisions were added or modified. Keep reading for a brief summary of some of these provisions.
Business
Breaking News: The Paycheck Protection Program (PPP) will re-open next week
Breaking News: Earlier today (January 8, 2021), the U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced the Paycheck Protection Program (PPP) will re-open to eligible borrowers next week.
PODCAST: A year like no other
Host Justin Hubbard and special guest Tollie Miller, an organization development consultant, explore what 2020, the year like no other, has meant to leaders around the globe. Tollie uncovers the positive changes the world of corporate leadership has seen in 2020 and how companies can get serious about leadership development.
Newest COVID-19 Relief Package Extends and Enhances Employer Payroll Tax Credits
All eyes are on the latest COVID-19 relief package passed by Congress and awaiting President Trump's approval. This new bill extends two employer payroll tax credits—the employee retention credit and the credit for coronavirus-related paid sick and family leave. Because the President has not yet signed the bill, the information here is preliminary and subject to change.
Nine Months Later, A Second Economic Relief Package
It is expected that President Trump will sign into law the 2021 Congressional Appropriations Act (“Act”). We will be providing additional details related to the Act over the next several weeks, but this article provides a brief summary of three provisions.
Audit & Assurance
WEBINAR: Newcomers to Single Audits – Provider Relief Fund Addition
Both non-for-profit and for-profit entities who have received and expended more than $750,000 in Provider Relief Funds (CFDA 93.498) within a fiscal year will be required to have a single audit completed on these funds. Our team of experts hosted a webinar on Thursday, August 13 to provide more information about the Single Audit process and walk through these new requirements
Single Audit Requirements for Provider Relief Funds
We have important information regarding single audit requirements for both non-for-profit and for-profit entities who have received and expended more than $750,000 in Provider Relief Funds through the CARES Act.
Safe Harbor for Retirement Plan Use of Electronic Media
The Department of Labor issued a final rule on May 21, 2020 that establishes a new voluntary safe harbor for retirement plan administrators who want to use electronic media as a default to furnish covered documents to covered individuals.
Introducing GASB Statement No. 95
In response to the ongoing COVID-19 pandemic, the Governmental Accounting Standards Board issued this month Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance.
Wealth & Estate Planning
Investment considerations in light of COVID-19
The effects of the COVID-19 pandemic have been significant, impacting in some way nearly every aspect of society. On the financial front, we have seen major upheaval to the economy, and we unfortunately saw a quick and steep decline in equity markets in mid-to-late March.
Wealth transfer planning strategies for the current time
While news about the pandemic and all the ways it is impacting us dominate our daily lives, those who give attention to the future may be able to find some attractive wealth transfer opportunities.
Recent Retirement Plan Changes Assist Individuals during COVID-19 Crisis
As most everyone knows by now, the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”) recently signed into law provides an extensive relief package covering var [...]
Converting a Traditional IRA to a Roth IRA – Is now the right time?
COVID-19 has taken a significant toll on the stock market in recent weeks, and many taxpayers expect their overall income to be diminished in 2020. However, for the opportunistic investor, these chal [...]
Industries
Healthcare Cost Report Filing Extension Update
On January 5, 2021, CMS revised the filing deadline for the following cost reporting fiscal year ends for all provider types. Our team has put together a short list of the extended deadlines for your reference.
Breaking News: The Paycheck Protection Program (PPP) will re-open next week
Breaking News: Earlier today (January 8, 2021), the U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced the Paycheck Protection Program (PPP) will re-open to eligible borrowers next week.
Unnecessary Necessity Questionnaires and PPP2
Lenders are being required by SBA to send Loan Necessity Questionnaires to borrowers with Paycheck Protection Program (PPP) loans of $2 million or more. There are also questions surrounding a second round of PPP loans.
Provider Relief Funds: Post-Payment Notice of Reporting Requirements
Recipients of provider relief funds agreed to Terms & Conditions, which require compliance with reporting requirements as specified by the Secretary of Health and Human Services in program instructions. Our team of healthcare experts break down some of the requirements here!
COVID-19 Solutions Team
Group Team Lead
David Bundy, CPA
President & CEO
Tax Services
Melissa Hicks, CPA
Director of Tax Services
Erica Horn, CPA, JD
Associate Director of Tax Services
Maddie Schueler, JD, LLM
Senior Tax Consultant
Human Resources
Kerri Schwaner, PHR
Director of Human Resources
Payroll and Accounting Services
Justin Hubbard, CPA, CGMA
Associate Director of Accounting & Financial Outsourcing
Information Technology and Business Continuity
Jason Miller
Director of Business Consulting
Cybersecurity
Gui Cozzi
Cybersecurity Practice Lead
Accounting and Reporting Matters
John Wurtenberger, CPA
Director of Assurance Services
Corporate Financing, Structuring, and Strategy
Please contact your tax advisor for questions related to corporate financing, structuring, and strategy.
Individual Wealth Management and Business Retirement Plans
David Parks, CPA/ABV
Senior Wealth Advisor
Dean Dorton Wealth Management
Matt Parks, CPA
Wealth Advisor
Dean Dorton Wealth Management