COVID‐19 Safety Action Plan

Visitors, please read: We have adopted a COVID‐19 Safety Action Plan consistent with the State of Indiana’s “Suggested Guidelines for Professional Office Settings” Please visit us when you are not ill. See safe alternatives below. Please wash your hands or use hand sanitizer before entering. You will be asked to complete a brief COVID‐19 screening […]

How to succeed at virtual team building

Thanks to affordable technology, more and more companies have been allowing employees to work remotely in recent years. It’s become feasible to procure laptops, set up security protocols, use cloud servers and rely on employees’ home Wi-Fi connections to create functional virtual workspaces. In turn, many of these businesses have lowered overhead costs such as […]

Tax Developments for Employers Impacted by COVID-19

As you may know, the President recently signed the Families First Coronavirus Response Act (FFCRA) and Coronavirus Aid, Relief and Economic Security Act (CARES) into law. The Acts contains several provisions to help employers and employees during the coronavirus crisis including: Delayed payment of employer payroll taxes Taxpayers will be able to defer paying the […]

What are the key distinctions between layoffs and furloughs?

As businesses across the country grapple with the economic fallout from the novel coronavirus (COVID-19) pandemic, many must decide whether to downsize their workforces to lower payroll costs and stabilize cash flow. If your company is contemplating such a move, you’ll likely want to consider the choice within the choice: that is, should you lay […]

Tax Provisions of CARES Act for Businesses – April 1, 2020 Update

Employee retention credit for employers Eligible employers can qualify for a refundable credit against, generally, the employer’s 6.2% portion of the Social Security (OASDI) payroll tax (or against the Railroad Retirement tax) for 50% of certain wages (below) paid to employees during the COVID-19 crisis. The credit is available to employers carrying on business during […]

Tax Provisions of CARES Act for Individual Taxpayers – April 1, 2020 Update

Recovery rebates for individuals To help individuals stay afloat during this time of economic uncertainty, the government will send up to $1,200 payments to eligible taxpayers and $2,400 for married couples filing joints returns. An additional $500 additional payment will be sent to taxpayers for each qualifying child dependent under age 17 (using the qualification rules […]

Using Your Financial Statements During an Economic Crisis

The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of cash flows, a balance sheet […]

Federal Government Tax-related Actions Taken to-date Regarding COVID-19

Right now, your highest priority is the health of those you love and yourself. But if you have time to read about some non-medical but important matters related to the health crisis, here is a summary of IRS action already taken and federal tax legislation already enacted to ease tax compliance burdens and economic pain […]

Assistance with Applying for SBA Disaster Loans

In response to the coronavirus crisis, TMA is helping small business owners apply for SBA Disaster Loans. We have developed a process to help clients complete an application quickly and easily. If you would like our help with this, please contact our office.

Tips for Our Restaurant Clients During Covid-19 Outbreak

As a restaurant owner, you and your people provide a critical service in our community. Especially now, we want to extend our help. We have attached a pdf document with general guidance for restaurant owners during the COVID-19 outbreak. We hope it contains some ideas for how to manage through this difficult time. We would […]