COVID-19 Business Resources

If you are looking for additional assistance on COVID-19 business-related issues please reach out to us through this simple form.


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IRS Extends COVID-19 Relief Leave Donations

IRS Extends COVID-19 Relief Leave Donations

Article Highlights: IRS extends COVID-19 Relief Leave Donations Donating unused vacation time, sick leave, and personal time Employer’s Function Great Donation Opportunity As part of the emergency disaster declaration made by President Trump on March 13, 2020, it became possible for employees to donate their unused paid vacation time, sick […]
COVID-19 SBA Loan and Grant Programs COVID-19 Tax Insights COVID-19 Business Insights COVID-19 Wealth Management Insights COVID-19 Industry Insights Post-COVID 19: The New Normal

COVID-19 SBA Loan and Grant Programs

IRS Extends COVID-19 Relief Leave Donations

IRS Extends COVID-19 Relief Leave Donations

Article Highlights: IRS extends COVID-19 Relief Leave Donations Donating unused vacation time, sick leave, and personal time Employer’s Function Great Donation Opportunity As part of the emergency disaster declaration made by President Trump on March 13, 2020, it became possible for employees to donate their unused paid vacation time, sick […]
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SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000

SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000

As U.S. businesses continue to recover from COVID-19’s economic devastation, the U.S. Small Business Administration (SBA) is expanding loan opportunities. The agency announced that beginning the week of April 6th, nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months. This expansion of […]
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Interaction between PPP Loans and the Employee Retention Credit

Interaction between PPP Loans and the Employee Retention Credit

Article Highlights: Consolidated Appropriations Act, 2021 Interaction between PPP loans and the ERC PPP Loan Forgiveness Denied Amending Forms 941 Qualified but Never Claimed the ERC The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision […]
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New PPP Changes to Help Businesses with Less than 20 Employees

New PPP Changes to Help Businesses with Less than 20 Employees

The Biden administration announced Monday that it would institute a two-week period starting Wednesday, Feb. 24 during which only businesses with fewer than 20 employees will be able to apply for Paycheck Protection Program (PPP) loans. The goal of the administration is to target more federal pandemic assistance to the […]
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Utah’s Small Business Quarantined Employee Grant Extended

Utah’s Small Business Quarantined Employee Grant Extended

On February 9, 2021 the Utah Labor Commission announced that additional funds have been allocated to the Small Business Quarantined Employee Grant program. The grant was originally set to expire on January 31, 2021 but has now been extended and the program will continue until the funds are exhausted or […]
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Recorded Webinar | Economic Stimulus Update

Recorded Webinar | Economic Stimulus Update

Recorded webinar that was held on 2/1/21 Join Squire experts Tim Larsen and Megan Bronson for a webinar on the latest economic relief bill that was signed into law December 27, 2020. They will guide you through the myriad of provisions included in this latest legislative package. Discussion will include: […]
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Finally, The COVID Relief Package Is Law

Finally, The COVID Relief Package Is Law

Article Highlights Additional 2020 Recovery Rebates Paycheck Protection Program (PPP) Loans & Small Business Support Clarification of Tax Treatment of Covered Loan Forgiveness Expenses Business Meals Educator Expense Unemployment Assistance Earned Income Tax Credit (EITC) & Child Tax Credit (CTC) Cash Charitable Contributions for Non-Itemizers Cash Charitable Contributions for Itemizers […]
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PPP Loan Forgiveness Webinar Series!

PPP Loan Forgiveness Webinar Series!

Beginning November 23rd, 2020, we will be holding weekly webinars covering PPP loan forgiveness. This is a three-part series where each subsequent session builds off of the one before. These sessions are offered to the public completely free.  While these webinars are intended to be viewed as a series, each […]
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Recorded Webinar | PPP Loan Forgiveness Overview

Recorded Webinar | PPP Loan Forgiveness Overview

We are ready to dive into the PPP Loan Forgiveness realm of this roller coaster COVID situation! Join us to learn about the recent forgiveness updates, the best ways to keep your application simple, and understand what considerations you should take depending on your situation. Presented By: Megan Bronson, CPA […]
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PPP Loan Forgiveness and Deductibility of Eligible Expenses

PPP Loan Forgiveness and Deductibility of Eligible Expenses

By: Richard Wilcock, richardw@squire.com The CARES Act that was passed in March of 2020 established the Payroll Protection Program (PPP) to assist small businesses in covering the costs of payroll and other eligible expenses. As part of the PPP program, the Small Business Administration (SBA) is permitted to guarantee the […]
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Small Business Quarantined Employee Grant

Small Business Quarantined Employee Grant

Governor Herbert announced additional help for small businesses in Utah with less than 50 employees. Small businesses can apply for the Small Business Quarantined Employee Grant if their employee’s have tested positive for COVID-19 or confirmed exposure and need to isolate/quarantine. Employers can use the grant to pay employees who […]
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Utah COVID-19 Impacted Businesses Grant Program

Utah COVID-19 Impacted Businesses Grant Program

By: Tony Lopez, Tonyl@squire.com Over the past six months life has been crazy. To help individuals and businesses cope, there have been multiple government programs, some well-known and others less so. One program that Utah residents and Utah businesses might not know about is the Shop In Utah grant. This […]
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Latest PPP FAQ Document Provides Clarity on Some Aspects of Forgiveness

Latest PPP FAQ Document Provides Clarity on Some Aspects of Forgiveness

The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various aspects of PPP forgiveness including general loan forgiveness, payroll costs, non-payroll […]
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New Law – Bonus Depreciation On Qualified Improvement Property

New Law – Bonus Depreciation On Qualified Improvement Property

By Doug Wilkins, Dougw@squire.com Businesses seeking additional tax deductions may be able to take advantage of a recent technical correction made by the IRS under the CARES Act. The technical correction now allows taxpayers to apply bonus depreciation to all qualified improvement property placed in service after December 31, 2017. […]
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House, Senate Approve 5-week PPP Extension

House, Senate Approve 5-week PPP Extension

The U.S. Senate and House of Representatives have both unanimously agreed to extend the Paycheck Protection Program (PPP) by five weeks in an effort to continue providing relief for small businesses hit hard by the pandemic. Applications officially closed for the program on June 30 when the Senate voted for a last-minute extension. President […]
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Webinar | PPP Loan Forgiveness & Application Updates

Webinar | PPP Loan Forgiveness & Application Updates

In case you missed it, you can watch the recording of our live webinar below which was held on June 23, 2020. In this webinar we go over the Treasury and SBA released changes to the PPP Loan Forgiveness Application after changes to the program were made by the PPP […]
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PPP Loan Forgiveness Application Updated for Flexibility Act Rules

PPP Loan Forgiveness Application Updated for Flexibility Act Rules

By Brandon Allfrey, Brandona@squire.com  On June 16th, the Treasury and SBA released changes to the PPP Loan Forgiveness Application after changes to the program were made by the PPP Flexibility Act (PPPFA). Additionally, they have released updates to the interim rules regarding parts of the loan forgiveness calculations.  Perhaps the most exciting development was the introduction of a Loan Forgiveness […]
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House Passes Bill to Extend, Expand Provisions of PPP

House Passes Bill to Extend, Expand Provisions of PPP

By Brandon Allfrey, Brandona@squire.com On May 28, 2020, in a nearly unanimous vote, the U.S. House of Representatives voted to extend certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds. Support for enhancing the PPP terms to support business and economic recovery […]
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SBA Issues Interim Final Rule on PPP

SBA Issues Interim Final Rule on PPP

On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance. This provides some more detail to the application for loan forgiveness released on May 15. […]
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Paycheck Protection Program | Deep Dive Into Forgiveness

Paycheck Protection Program | Deep Dive Into Forgiveness

(Previously recorded live webinar) Join us for a deep dive into the PPP Forgiveness Application Form and updates from the SBA. Presenters Shane Edwards, Megan Bronson and Marc Adrus will also be weighing in on scenarios and questions submitted by the audience members. Shane is Squire Office Managing Partner of our Salt Lake location, Megan […]
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PPP Forgiveness Form Released by SBA

PPP Forgiveness Form Released by SBA

The Small Business Administration (SBA) has released its long-awaited Paycheck Protection Program (PPP) forgiveness form for borrowers. The release on May 15 brought significant changes to the interpretation of some components of forgiveness that were not previously known.   Clarity is still needed on many of the components of forgiveness. […]
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ADDITIONAL DETAILS RELEASED REGARDING PPP REPAYMENT DEADLINE 

ADDITIONAL DETAILS RELEASED REGARDING PPP REPAYMENT DEADLINE 

This morning, the Treasury Department offered additional guidance, yet again, regarding their extended repayment deadline for businesses receiving Paycheck Protection Program loans.  The guidelines now provide a safe harbor for businesses that received loans for less than $2M.   In FAQ#46, Treasury stated that loans for less than $2M will automatically be deemed to meet the certification requirements of economic uncertainty at the time of […]
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Payroll Protection Program (PPP) Calculating Tool and Tutorial

Payroll Protection Program (PPP) Calculating Tool and Tutorial

*Updated 4/3/20* Video updates included: A section to designate your business type The wording of the application surrounding owners of the business owning other businesses (and an associated sample template to fill out) Added a section to indicate whether or not you have received an EIDL loan Clarification on how […]
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FAQ’s | Payroll Protection Program Application

FAQ’s | Payroll Protection Program Application

*Updated 4/27/20*  ELIGIBILITY: 1. PPP vs EIDL – can I only get one or the other? Answer – No, you can apply for both.  In addition, if you do receive funds via the EIDL prior to receiving funds via the PPP, those will be rolled into your PPP loan (if […]
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FAQs | Payroll Protection Program – Forgiveness Phase

FAQs | Payroll Protection Program – Forgiveness Phase

*Updated 5/22/20* The Small Business Administration (SBA) released the long-awaited Paycheck Protection Program Loan Forgiveness Application. The release on May 15, 2020,  brought significant changes to the interpretation of some components of  PPP forgiveness that were not previously known.  As a result of these changes Squire has updated its FAQ […]
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Apply for your SBA PPP Loan Through Divvy

Apply for your SBA PPP Loan Through Divvy

NOTICE: The Small Business Administration (SBA) announced Funding is Exhausted for the $350 Billion Small-Business Paycheck Protection Program as of April 16, 2020.  SBA says it is unable at this time to accept new aid applications or enroll new lenders. A $350 billion loan program for small businesses hurt by […]
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U.S. Chamber of Commerce Small Business Grants

U.S. Chamber of Commerce Small Business Grants

*Due to overwhelming demand, The US Chamber of Commerce is unable to accept new applications. Updated 4/21/2020* The US Chamber of Commerce Save Small Business Fund is awarding $5,000 grants (not loans) to small businesses. Applications opened April 20 at 1pm MST. They will award grants on a weekly basis, […]
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A Video Walkthrough of the EIDL Loan/Grant Application

A Video Walkthrough of the EIDL Loan/Grant Application

*Updated 4/5/20 to match some changes made to the SBA website* Here is a quick walkthrough on the EIDL Loan/Grant Application process with Squire team member Colton Kreth. If you are looking for any additional assistance with any COVID-19 related item, please reach out to us through this simple form […]
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CARES Act | Major Relief Provisions Summary

CARES Act | Major Relief Provisions Summary

By Nathan Larsen (NathanL@squire.com) and Clayton Johnson (ClaytonJ@squire.com) Nathan Larsen will be presenting in an upcoming webinar on April 14th to cover many of these sections on a more in-depth level. On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This […]
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The Coronavirus CARES Package | The CARES Act: An Overview

The Coronavirus CARES Package | The CARES Act: An Overview

By Dwayne W. Asay, CPA (DwayneA@Squire.com) and Shane Edwards, CPA, CIA (Shanee@Squire.com) Mr. Asay will also present a webinar on the CARES Act on April 7, 2020, at 11 am MDST.  For more information and to register click here.  The roughly $2 trillion stimulus bill (CARES Act) has been signed by President Trump into law and […]
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COVID-19 Tax Insights

SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000

SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000

As U.S. businesses continue to recover from COVID-19’s economic devastation, the U.S. Small Business Administration (SBA) is expanding loan opportunities. The agency announced that beginning the week of April 6th, nonprofits and small businesses will be able to borrow up to $500,000 for up to 24 months. This expansion of […]
View Article >
Interaction between PPP Loans and the Employee Retention Credit

Interaction between PPP Loans and the Employee Retention Credit

Article Highlights: Consolidated Appropriations Act, 2021 Interaction between PPP loans and the ERC PPP Loan Forgiveness Denied Amending Forms 941 Qualified but Never Claimed the ERC The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision […]
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Employee Retention Credit Extended

Employee Retention Credit Extended

Article Highlights: The Extension About the Credit Advance Payment Employer Qualifications Qualified Wages Impact on Other Tax Provisions Claiming the Credit In order to help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the […]
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How to Address Rising Tax Problems During COVID-19

How to Address Rising Tax Problems During COVID-19

COVID-19 has caused the death of over 300,000 people. There have been nearly 19 million reported cases in the United States. COVID-19 has touched nearly every aspect of the lives of every American. It has even affected finances for most Americans as well, creating waves of economic stress. It will […]
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Finally, The COVID Relief Package Is Law

Finally, The COVID Relief Package Is Law

Article Highlights Additional 2020 Recovery Rebates Paycheck Protection Program (PPP) Loans & Small Business Support Clarification of Tax Treatment of Covered Loan Forgiveness Expenses Business Meals Educator Expense Unemployment Assistance Earned Income Tax Credit (EITC) & Child Tax Credit (CTC) Cash Charitable Contributions for Non-Itemizers Cash Charitable Contributions for Itemizers […]
View Article >
New Law – Bonus Depreciation On Qualified Improvement Property

New Law – Bonus Depreciation On Qualified Improvement Property

By Doug Wilkins, Dougw@squire.com Businesses seeking additional tax deductions may be able to take advantage of a recent technical correction made by the IRS under the CARES Act. The technical correction now allows taxpayers to apply bonus depreciation to all qualified improvement property placed in service after December 31, 2017. […]
View Article >
Employee Retention Tax Credit Summary

Employee Retention Tax Credit Summary

One of the many key provisions in the CARES Act is the Employee Retention Credit. This credit is geared towards employers subject to partial or full COVID-19 related closures. This credit impacts compensation, furlough, and layoff strategies. If you are considering making workforce reductions, it is important to understand your […]
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IRS Tax Guidance for the Paycheck Protection Program

IRS Tax Guidance for the Paycheck Protection Program

Written by Brandon Allfrey, Tax Partner brandona@squire.com The continually unfolding guidance regarding the economic stimulus packages for COVID-19 under the CARES Act is comparable to the twists and turns of the greatest of soap operas.  Just when you think you know whats going on, something inevitably pops up to throw […]
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TAX FILING DEADLINE EXTENDED FOR INDIVIDUALS AND CORPORATIONS 

TAX FILING DEADLINE EXTENDED FOR INDIVIDUALS AND CORPORATIONS 

TAX NEWS FLASH   TAX FILING DEADLINE EXTENDED TO JULY 15 FOR INDIVIDUALS AND CORPORATIONS  Secretary of Treasury, Steven Mnuchin, announced Friday that tax filing deadlines for individuals, trusts, and corporations have been extended until July 15, 2020, instead of April 15, 2020, to help taxpayers during the COVID-19 pandemic. This follows an earlier IRS announcement this week that delayed the payments of […]
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COVID-19 Business Insights

Interaction between PPP Loans and the Employee Retention Credit

Interaction between PPP Loans and the Employee Retention Credit

Article Highlights: Consolidated Appropriations Act, 2021 Interaction between PPP loans and the ERC PPP Loan Forgiveness Denied Amending Forms 941 Qualified but Never Claimed the ERC The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision […]
View Article >
New Law – Bonus Depreciation On Qualified Improvement Property

New Law – Bonus Depreciation On Qualified Improvement Property

By Doug Wilkins, Dougw@squire.com Businesses seeking additional tax deductions may be able to take advantage of a recent technical correction made by the IRS under the CARES Act. The technical correction now allows taxpayers to apply bonus depreciation to all qualified improvement property placed in service after December 31, 2017. […]
View Article >
House, Senate Approve 5-week PPP Extension

House, Senate Approve 5-week PPP Extension

The U.S. Senate and House of Representatives have both unanimously agreed to extend the Paycheck Protection Program (PPP) by five weeks in an effort to continue providing relief for small businesses hit hard by the pandemic. Applications officially closed for the program on June 30 when the Senate voted for a last-minute extension. President […]
View Article >
Back to Work Safety Plans

Back to Work Safety Plans

By Samantha Lowe, samanthal@squire.com As economies are starting to open back up, allowing businesses to re-open and employees to come back to the workplace, it is important for employers to have a Back to Work Safety Plan in place to navigate the delicate balance of maintaining business operations while also […]
View Article >
Webinar | PPP Loan Forgiveness & Application Updates

Webinar | PPP Loan Forgiveness & Application Updates

In case you missed it, you can watch the recording of our live webinar below which was held on June 23, 2020. In this webinar we go over the Treasury and SBA released changes to the PPP Loan Forgiveness Application after changes to the program were made by the PPP […]
View Article >
House Passes Bill to Extend, Expand Provisions of PPP

House Passes Bill to Extend, Expand Provisions of PPP

By Brandon Allfrey, Brandona@squire.com On May 28, 2020, in a nearly unanimous vote, the U.S. House of Representatives voted to extend certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds. Support for enhancing the PPP terms to support business and economic recovery […]
View Article >
SBA Issues Interim Final Rule on PPP

SBA Issues Interim Final Rule on PPP

On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance. This provides some more detail to the application for loan forgiveness released on May 15. […]
View Article >
PPP Re-funded

PPP Re-funded

On April 24, 2020, President Trump signed into law a $484 billion coronavirus-relief package.  The measure replenishes two depleted small-business loan programs, sends more assistance to hospitals and funds an expansion of testing capacity nationwide for the virus.  Economic Injury Disaster Loans and Grants received approximately $60 billion. The Paycheck […]
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FAQ’s | Payroll Protection Program Application

FAQ’s | Payroll Protection Program Application

*Updated 4/27/20*  ELIGIBILITY: 1. PPP vs EIDL – can I only get one or the other? Answer – No, you can apply for both.  In addition, if you do receive funds via the EIDL prior to receiving funds via the PPP, those will be rolled into your PPP loan (if […]
View Article >
Silicon Slopes SMB Series | PPP Deep Dive

Silicon Slopes SMB Series | PPP Deep Dive

In case you missed it – Squire’s Downtown SLC Office Managing Partner, Shane Edwards, sat on a panel for Silicon Slopes discussing the Payroll Protection Program (PPP). We’re grateful to Silicon Slopes involving Shane in the discussion and for working to help educate businesses during this economic downturn from the […]
View Article >
U.S. Chamber of Commerce Small Business Grants

U.S. Chamber of Commerce Small Business Grants

*Due to overwhelming demand, The US Chamber of Commerce is unable to accept new applications. Updated 4/21/2020* The US Chamber of Commerce Save Small Business Fund is awarding $5,000 grants (not loans) to small businesses. Applications opened April 20 at 1pm MST. They will award grants on a weekly basis, […]
View Article >

COVID-19 Wealth Management Insights

A Rundown of State and Local Resources

A Rundown of State and Local Resources

By Kyle Greene (kyleg@squire.com) The State of Utah, as part of its Utah Leads Together program, announced funding is available through the Utah Governor’s Office of Economic Development (GOED). Along with the funding, the GOED is providing various resources for businesses and families. In addition, there are a few cities […]
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COVID-19 Industry Insights

New Law – Bonus Depreciation On Qualified Improvement Property

New Law – Bonus Depreciation On Qualified Improvement Property

By Doug Wilkins, Dougw@squire.com Businesses seeking additional tax deductions may be able to take advantage of a recent technical correction made by the IRS under the CARES Act. The technical correction now allows taxpayers to apply bonus depreciation to all qualified improvement property placed in service after December 31, 2017. […]
View Article >
Silicon Slopes SMB Series | PPP Deep Dive

Silicon Slopes SMB Series | PPP Deep Dive

In case you missed it – Squire’s Downtown SLC Office Managing Partner, Shane Edwards, sat on a panel for Silicon Slopes discussing the Payroll Protection Program (PPP). We’re grateful to Silicon Slopes involving Shane in the discussion and for working to help educate businesses during this economic downturn from the […]
View Article >
Q1 2020 Market Commentary

Q1 2020 Market Commentary

Provided by Squire Wealth Advisors Squire’s evidence-based investing portfolios are strategically invested with a focus on long-term performance objectives. Portfolio allocations and investments are not adjusted in response to market news or economic events; however, we evaluate and report on market and economic conditions to provide our investors with perspective […]
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Post-COVID 19: The New Normal

Squire 2021 Office Procedures During COVID-19  

Squire 2021 Office Procedures During COVID-19  

As a valued client of the Squire family, we appreciate the trust you place in us for all your accounting needs. We operate with the health and safety of our team, our clients, and our communities at the forefront of our practices. That being said, we have taken the statewide Stay Safe to […]
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Finally, The COVID Relief Package Is Law

Finally, The COVID Relief Package Is Law

Article Highlights Additional 2020 Recovery Rebates Paycheck Protection Program (PPP) Loans & Small Business Support Clarification of Tax Treatment of Covered Loan Forgiveness Expenses Business Meals Educator Expense Unemployment Assistance Earned Income Tax Credit (EITC) & Child Tax Credit (CTC) Cash Charitable Contributions for Non-Itemizers Cash Charitable Contributions for Itemizers […]
View Article >
Recorded Webinar | PPP Loan Forgiveness Overview

Recorded Webinar | PPP Loan Forgiveness Overview

We are ready to dive into the PPP Loan Forgiveness realm of this roller coaster COVID situation! Join us to learn about the recent forgiveness updates, the best ways to keep your application simple, and understand what considerations you should take depending on your situation. Presented By: Megan Bronson, CPA […]
View Article >
Back to Work Safety Plans

Back to Work Safety Plans

By Samantha Lowe, samanthal@squire.com As economies are starting to open back up, allowing businesses to re-open and employees to come back to the workplace, it is important for employers to have a Back to Work Safety Plan in place to navigate the delicate balance of maintaining business operations while also […]
View Article >
Planning to Return | Preparing Offices and Staff to Return to Work

Planning to Return | Preparing Offices and Staff to Return to Work

Presented by: Samantha Lowe, Samanthal@squire.com & Nic Dunn, Nic@thechamber.org The path to business recovery continues forward as the economy begins to reopen. While much uncertainty remains around the timeline for reentering workplaces, how to return to work is at the forefront for most businesses. Presented with Utah Valley Chamber of […]
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