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Five Metrics Your Construction Company Should Start Tracking Today

4/26/2021

Keeping track of key performance indicators (KPIs) is more crucial now than it was a year ago. As businesses continue to struggle with the uncertainty of the future, it is important for management to understand its financial position. Read more!

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Provider Relief Funds - Reporting and Audit Requirements

4/20/2021

When Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, it established the Provider Relief Fund (PRF) to support American families, workers and healthcare providers in the battle against COVID-19. Read more!

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IRS Extends Certain Tax Filing and Payment Deadlines to May 17

4/1/2021

The Internal Revenue Service confirmed in an announcement on March 29, 2021, that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15. 

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New IRS Guidance Regarding Tax Due Date Change 2021

3/18/2021

On Wednesday, March 17th, the U.S. Treasury Department and Internal Revenue Service extended the due date of individual Federal income tax returns and the deadline to make contributions to IRAs and HSAs from April 15, 2021 to May 17th, 2021.

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Impact of COVID-19 on Accounting Operations Part 2: Positioning Towards the Future

8/9/2020

As cities and states begin to re-open, and businesses start to transition into a post- lockdown economy, there will be short- and medium-term challenges that will need to be addressed. If you were able to weather the early storm and ensure that the necessary accounting processes were operational in a virtual environment, you are already off to a strong start.

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Impact of COVID on Accounting Operations Part 1: Immediate Actions to Take

8/9/2020

While the full effect of the pandemic is yet to be seen, companies of all sizes are contending with an economic and health challenge unlike any the United States has seen in generations. But what does this mean for your finance function? What steps should you take to manage your accounting operations throughout this global crisis? 

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part IV

6/30/2020

Our webinar provides practical real-world scenarios and focuses on key considerations for PPP loan forgiveness, including the latest guidance on new forgiveness applications, and 8-week vs. 24-week decisions and pitfalls. Access webinar materials here.

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What Plan Sponsors Need to Know About Layoffs and Partial Plan Terminations

6/15/2020

While downsizing the workforce can help companies remain afloat, plan sponsors need to understand how these decisions could affect their retirement plans. If layoffs are significant, a partial plan termination may occur and create major financial implications for a plan sponsor.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part III

6/10/2020

Our presentation held on Wednesday, June 10th discussed the Paycheck Protection Program Flexibility Act (PPPFA), properly documenting expenses and answering frequently asked questions so you can maximize your PPP loan forgiveness. Access webinar materials here.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part I

5/14/2020

In response to the impacts of COVID-19, many businesses have received funding through the Paycheck Protection Program (PPP) under the recently passed CARES Act and we have held a webinar on key considerations for PPP loan forgiveness. Access webinar materials here.

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COVID-19 is Accelerating the Rise of the Digital Economy

5/8/2020

Digital transformation is necessary during this crisis, but that doesn’t mean it will look the same as it did before the pandemic. New problems and opportunities have come to light with greater urgency. For some businesses, the forces of disruption may be so great that the long-term strategic vision will need to be overhauled. 

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WEBINAR MATERIALS: How COVID-19 is Impacting Retirement Planning

5/7/2020

The Coronavirus Aid, Relief, and Economic Stimulus Act, or “CARES Act” brought important changes to retirement plans that every investor should be aware of. Learn about these changes, how they are impacting retirement planning, and what actions you should take to have an investment plan you can stick with to achieve peace of mind. Access webinar materials here.

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Nonprofits and COVID-19: What is Your Strategy?

5/4/2020

As the COVID-19 crisis continues to have major global impacts, we expect that nonprofits will be among those most impacted as local economic impacts will likely cause a great increase in the need for services and assistance that nonprofits are uniquely positioned to provide. We have put together a checklist of topics and related resources that you may want to consider when creating a response plan that fits your needs.

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New Federal Reserve Guidance For The Main Street Lending Program

5/3/2020

In response to the more than 2,200 letters received, the Federal Reserve decided to expand the MSLP loan options available and modified eligibility requirements to extend the program to a greater number of affected businesses. Learn more about these notable changes and key eligibility criteria.

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Exhausted Your Cares Act Paycheck Protection Program Options? Main Street Lending Can Provide Additional Liquidity

5/3/2020

The Main Street Lending Program, whereby the Treasury will carve out $75 billion of the available $454 billion under Title IV to make an equity investment in a special purpose vehicle (SPV), which will enable the flow of credit to small and medium-sized businesses that were in good financial standing prior to COVID-19. 

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WEBINAR MATERIALS: Staying Connected & Empowering Your Team Using Collaboration Tools

4/30/2020

When it comes to working remotely, using virtual tools, and leveraging technology, what can business owners and managers do today that will help ensure they emerge successfully from the COVID-19 pandemic? Access webinar materials here.

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Questions for Audit Committees in Contemplating COVID-19 Impacts

4/21/2020

As audit committees weigh the practical challenges of accounting, reporting and disclosing the impacts of COVID-19, the following series of questions are designed to assist audit committees in execution of their oversight roles and responsibilities to ensure the performance of high-quality audits and issuance of transparent and reliable financial reporting.

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WEBINAR MATERIALS: Strategies to Propel Your Business Beyond the Pandemic

4/21/2020

As businesses begin to think beyond the current COVID-19 crisis and, in many cases, emerge from several weeks of unprecedented disruption, what can business owners and managers do today to help ensure they emerge successfully? Access webinar materials here.

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Mitigating Pandemic-Driven Supply Chain Risks

4/21/2020

While the novel coronavirus is front and center, it isn’t the only issue plaguing supply chains. Even before the virus became a pandemic, businesses had begun to re-evaluate their supply chains following the U.S. trade tensions of the past year.

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How Restaurants Can Navigate PPP Loans As Guidance Evolves

4/21/2020

Over the past few weeks, we’ve had a chance to see the PPP provisions play out in real time within the restaurant industry. While restaurants that are recipients of PPP loans have cash, it remains unclear whether they will be able to spend the cash within the current guidelines of the PPP provisions.

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COVID-19 Impacts Ongoing Concern Assessments

4/21/2020

The current uncertainty continues to evolve and will make it difficult for organizations to evaluate the impact on their ability to obtain, extend, or renew credit agreements, or they may experience a material adverse event, which could trigger debt to come due or other loan covenant violations.

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A Return to Work in the New NormalHow companies should plan to return to work and emerge from COVID-19 stronger and smarter.

4/21/2020

As the response to the COVID-19 pandemic progresses, many companies have established operational crisis management teams and adjusted to global restrictions on work and movement. Executives are now beginning to ask the question: How are we going to return to work?

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Documentation & Accounting for PPP Loan Forgiveness

4/21/2020

As many of our clients have already started receiving their Payroll Protection Program (PPP) loan proceeds, the Saltmarsh COVID Recovery Response Team is recommending guidelines for how these loans should be handled, both from the operations and accounting (recording on the books) standpoints.

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Individuals: What You Need to Know About the CARES Act

4/6/2020

On March 6, 2020, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 was enacted, becoming the first of three Congressional relief and stimulus acts passed. This alert briefly summarizes the following relief provisions enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020.

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CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

4/6/2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free. 

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