Our Blog
Whatcom REstart Grants Help Businesses Hurt By COVID
Whatcom REstart grants offer up to $15,000 in aid to county businesses hurt by Covid-19
A Second Stimulus Check?
Another Stimulus Check? Now that we are in July, a discussion of another round stimulus check has been circulating. Remember, back in June, Congress hinted that talks of another check would have to wait until July. What Changes We Might See? An extension of...
Happy 30th Birthday Taryn!
Celebrating The Birthday Of Taryn An upgrade from our last quarantine birthday celebration, this time we got to go out! Taryn decided on Aslan as our destination. Nothing says small business accountant like going out and supporting one of our local restaurants. While...
New PPP Forgiveness News
Last week, the Senate approved an act that would streamline the PPP forgiveness process.
The Deadline For Applying For A PPP Loan
An Extension To The PPP Deadline The deadline to apply for the Paycheck Protection Program was supposed to expire on June 30th, but Congress unanimously agreed to extend the deadline to August 8th. Since more than $100 billion is still available in the PPP fund, it is...
The PPP EZ Application
Do You Qualify For The EZ Form? If one of the following scenarios applies to you, then you can submit the PPP EZ forgiveness application: You are self-employed with no employeesYou did not reduce your employees hours or reduce salaries by more than 25% (in the period...
2020 Graduate
A Graduate In 2020 Hi, I'm Janna. You may have seen me around the office sometimes, I'm there part-time. I run all the social media and marketing endeavors here at Andrews Tax Accounting. As you may have noticed, we like to keep you all up to date on the big events of...
Future PPP Changes To Consider
Possible Changes About $670 billion was put into funding PPP loans for small businesses. As of this week, about $130 billion still remains unused. With the job growth in May, the Treasury Secretary has stated that the SBA will be relaxing who is restricted from...
PPP Forgiveness Rules And Applying
When it comes to succeeding in getting your Paycheck Protection Program (PPP) loan forgiven, the government has repeatedly moved the goalposts. Now they’ve moved the goalposts to an entirely different stadium, but the good news is it’s a stadium that gives the borrower a little bit of home-field advantage.
The PP Flexibility Act
The Legislative Branch Yesterday, the Paycheck Protection Flexibility Act, a bipartisan bill, passed in the House of Representatives. The bill is expected to pass in the Senate, as well. Two Big Changes The first change to PPP loan forgiveness involves the period in...
Unemployment Benefits
Eligibility And Benefits If you were laid-off, furloughed or your place of business shut down due to COVID-19, you are eligible for unemployment benefits from Washington state and the federal government. The Employment Security Department (ESD) of Washington State has...
PPP Loan Forgiveness Rules Finalized?
The SBA has finally decided on the rules it will use to determine PPP loan forgiveness.
PPP Updates
PPP Loan Forgiveness Updates A stipulation to have a PPP loan forgiven is to prove COVID-19 has had a negative impact no your business. Recently this condition was nullified for small businesses with PPP loans less than $2 million. Other conditions still hold though....
PPP Loans and Deductions
Business Deductions and PPP Loans Tax deductions are subtracted from your adjusted gross income which results in paying a lower amount in taxes. Businesses can take advantage of many deductions to reduce their tax bill. Some common deductions for businesses are...
Some Good News
Julia Got Married In lieu of these times, some good news is overdue. Our newest member of the Andrews clan, Julia, was kind enough to share some of her wedding photos. A few weeks ago Julia tied the knot with her now-husband, Brandon. Here are some of the photos which...
Tracking Stimulus Checks
Stimulus Checks This week marks the third week of the IRS depositing stimulus checks directly into taxpayers’ bank accounts. If you have not received your stimulus check it is probably due to one of the following reasons: you are not eligible for a stimulus check, you...
Small Business Administration (SBA) Loans
Paycheck Protection Program The SBA is offering loans of up to $10 million to eligible small businesses to protect small business workers. The loan can be forgiven if employees are on the payroll for eight weeks and the loan is used for payroll, rent, utilities, etc....
When Can You Expect a Relief Payment?
The CARE Act The Care Act gives a relief payment of $1,200 to adults that make no more than $75,000 annually. This applies to couples that make $150,000 annually (in which the relief would be $2,400). Also, each child under 17 years-old amounts to an additional $500...