PPP Loans Have Reopened: Be Aware of the Tax Consequences

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) reopened the week of January 11. If you’re fortunate to get a PPP loan to help during the COVID-19 crisis (or you received one last year), you may wonder…

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Swaps Proficiency Requirement Deadline Looms

The compliance date for NFA’s Swaps Proficiency Requirement is January 31, 2021.  NFA members with APs required to satisfy NFA’s Swaps Proficiency Requirements must ensure these individuals do so by January 31, 2021. Individuals who do not satisfy the Swaps…

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Audit Brief: A Risk to Think About

Assessing and mitigating key person risks Auditing standards require a year-end risk assessment. One potential source of risk may be a small business’s reliance on the owner and other critical members of its management team. If a so-called “key person”…

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