COVID-19 UPDATE:
Larson and Company cares about the health and safety of our clients and our employees. If you are sick, exhibiting flu-like symptoms, or trying to reduce face-to-face interactions, we ask you to utilize electronic and mail options. You do not need to meet in person with your CPA to have your taxes prepared.
Clients wishing to send their information electronically can request a secure link from their CPA where they can upload their information safely and securely.
ARTICLES & UPDATES
Important news and updates regarding tax changes and relief options for individuals and businesses
Shuttered Venue Operators Grant Program Summary
Kyle Robbins, CPA, audit partner, is the leader of our Nonprofit Practice Group. He is an audit and compliance expert for nonprofits...
ARPA Enhanced Child and Dependent Care Credit
The following information outlines improvements made by the American Rescue Plan Act (ARPA) to the child and dependent care tax credit for the 2021 tax year, i.e., the credit available for expenses a taxpayer pays for the care of qualifying individual(s) under the age...
ARPA’s Temporary Expansion of Child Tax Credit for Tax Credit for Tax Year 2021
The following is an overview of the significant enhancements made to the child tax credit (CTC) by the American Rescue Plan Act of 2021 (ARPA). These enhancements temporarily expand the eligibility for, and the amount of, the child tax credit (CTC) for tax years...
ARPA Modifications to the Employee Retention Tax Credit in 2021
The following information reviews the modification and extension of the employee retention tax credit (ERTC) by the American Rescue Plan Act (ARPA), signed by President Biden on March 11, 2021. This information will assist you in analyzing whether claiming the...
ARPA’s Improvements to the Earned Income Tax Credit
Here is an overview of changes contained in the recent COVID relief legislation (the 2021 American Rescue Plan Act, or ARPA) that improve and expand the earned income tax credit (EITC). Expansion of EITC for Taxpayers with No Qualifying Children For tax years...
Utah Breaks with Federal Tax Law, Will Tax PPP Loans in Year Forgiven
The state of Utah recently announced that they will tax Paycheck Protection Program (“PPP”) loans in the year the loans are forgiven, while allowing full deductibility of expenses paid for with forgiven PPP loan proceeds. This came as a surprise to many as it...
CPAmerica Special Report: Consolidated Appropriations Act 2021
For a printable version of this document, click here.
TAX UPDATE: Consolidated Appropriations Act
Craig Swindlehurst CPA, Senior Tax Manager at Larson & Company, specializes in tax planning and preparation for individuals,...
2021 changes to Paycheck Protection Program second draw
At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. This law, the Consolidated Appropriations Act, 2021 (CAA, 2021), includes a second draw of Paycheck...
IRS Update on PPP Loan Expense Deductability
Craig Swindlehurst CPA, Tax Manager at Larson & Company, specializes in tax planning and preparation for individuals, small...
COVID 19 Control Environment Changes: A Year in Review
Cameron Hodson, CPA, is an Audit Manager specializing in technology, GAAP, and nonprofit audits. He is a member of the Emerging...
COVID-19: Significant Estimates Just Got More Significant
Cameron Hodson, CPA, is an Audit Manager specializing in technology, GAAP, and nonprofit audits. He is a member of...
Lessons Insurance Companies Have Learned from COVID-19
Allison Johnson, CPA, is an Audit Manager specializing in the insurance industry. She is the Education and NAIC Update Specialist...
IRS Won’t Postpone July 15 Filing, Payment Deadline
In an Information Release, the IRS has announced that the July 15 tax filing and payment deadline won’t be postponed. Individuals unable to meet the July 15 filing deadline can request an automatic extension, until October 15, to file. However, tax payments are due on...
Answers to Questions About CARES Relief Payments and 2020 Tax Returns
Zachary Thomander is a Tax Associate in our Salt Lake City Office. He specializes in tax preparation for businesses and...
WEBINARS & SLIDES
Recordings and Slide Decks for Larson presentations
Webinar Slides: Critical Impacts of COVID-19 Company Sponsored Retirement Plans Presentation
Webinar Recording: PPP Round 2 and Loan Forgiveness: Utilizing, Calculating, and Tracking PPP Funds
Webinar Recording: Utilizing the Benefits of the New Coronavirus Relief Plan for Individuals and Businesses
HELPFUL FORMS & RESOURCES
Templates, worksheets, and other helpful items
Paycheck Protection Plan Application Form 3-30-20
Employee Rights FFCRA Poster for Employers to Post Notice
GOVERNMENT INFORMATION
Resources for Americans from the Coronavirus Aid, Relief, and Economic Security Act (CARES)
DOL: Families First Coronavirus Response Act Questions and Answers
Families First Coronavirus Response Act Impact on Small Businesses
Small Business Owner’s Guide to the CARES Act
Governor Herbert’s “Stay Safe, Stay Home” Directive: What’s Considered Essential
U.S. Treasury Department: How the Treasury Department is Taking Action –Resources for American Workers, Families, and Small Businesses
U.S. Chamber of Commerce: Coronavirus Emergency Loans Guide and Checklist for Small Businesses and Nonprofits
IRS: Filing and Payment Deadlines Questions and Answers
FFCRA: Employer Paid Leave Requirements
Wolters Kluwer: Coronavirus Response by State
IRS: Treasury, IRS and Labor Announce Plan to Implement Coronavirus-related Paid Leave for Workers and Tax Credits for Small Businesses to Swiftly Recover the Cost of Providing Coronavirus-related Leave
SBA: Coronavirus (COVID-19) Small Business Guidance & Loan Resources
IRS: FAQs Employee Retention Credit Under the CARES Act
Utah Department of Workforce Services: COVID-19 and Unemployment FAQs for Employers
SBA: Business Loan Temporary Changes and Payroll Protection Plan
US Department of Treasury: FAQs Payroll Protection Plan (PPP)
US Department of Treasury: PPP Borrower Information Fact Sheet
IRS: FAQ on Deferral of Employment Tax Deposits and Payments through December 31, 2020
US Department of Treasury: Interim Final Rule Additional Eligibility Criteria and Requirements for Certain Pledges of Loans
TIPS FOR STAYING HEALTHY
Practicing good hygiene and maintaining physical distance from others while staying socially connected are all part of staying healthy during this crisis. Here are a few quick tips to help you maintain your health and manage your feelings.
Stay virtually connected with family and friends
Getting support from those you love is helpful in stressful times. To alleviate feelings of isolation, reach out to others, especially if you are feeling anxious.
Stay Safe, Stay Home!
Seriously. Just stay home! It’s up to all of us to help “flatten the curve” by drastically minimizing our social interaction. Only leave the house for essentials and go alone. Don’t congregate and stay 6 feet apart from others.
Get Outside and Take a Break!
Getting outside can benefit both your physical and mental health. Maintain physical distance from others when at parks or on a trail, but try to get out at least once a day to keep from feeling cooped up.
Turn Off The News
Limit what you read or set a time to get caught up on the day’s events. Constantly checking social media and online news sources can trigger anxious thoughts and exhausting panic. Stick to trusted sources of information to ensure you are getting the right facts.
Cut Yourself Some Slack
It can be overwhelming to adjust to working at home, home schooling children, ensuring you have food and basic supplies when shelves are empty, and being unsure of the future. Remember, these are unprecedented times in our history! No one really knows what we are doing or how to do it best. It’s fine to start working later in the day, have your kids watch a little too much tv, and eat cold cereal for dinner. We’re all in this together!
Serve Others
A great way to manage feelings of helplessness is to do something kind for someone else. Check in on an elderly neighbor. Pick up milk at the store for a mom home with small children. Give blood. Do someone’s yardwork. There are so many opportunities to serve others. Not only will you feel better yourself, you’ll be helping someone else through this tough time as well.
OUR LOCATIONS
Salt Lake City, UT
11240 South River Heights Drive, South Jordan, UT 84095
(801) 313-1900
Spanish Fork, UT
765 N Main
Spanish Fork, UT 84660
(801) 798-3545
Moab, UT
285 S. 400 E.
Moab, UT 84532
(435) 259-9100
Las Vegas NV
Larson, Swan + Gardiner
9005 W Sahara Ave
Las Vegas, NV 89117
(702) 869-9700
Larson & Company | 2018 AMPLIFYONLINE
