Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back once again with Kristin Ryan, an Audit Senior Manager and one of the faces of the PKF Texas Employee Benefit Plan team. Kristen, welcome back to the Playbook.

Kristin: Thanks for having me.

Jen: So, we’ve had a webinar on it, you’ve done some Entrepreneur’s Playbooks on it, but there’s so much to cover between the SECURE Act and the CARES Act. What else do our folks need to know?


Continue Reading More on the SECURE Act and CARES Act

As the COVID-19 pandemic continues, various not-for-profit organizations have experienced a decline in charitable contributions from supporters, and Congress responded with a new provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act – Public Law (P.L.) 116-136.

a computer screen with white numbers and red numbers in the shape of a heart; image used for blog post about charitable deductions provision under CARES Act

This provision aims to provide relief to charitable organizations. Under Section 2204, the provision allows

The Small Business Administration (SBA) and Department of Treasury released an updated Paycheck Protection Program (PPP) Loan Forgiveness FAQ with detailed instructions on Tuesday, August 4, 2020 as the COVID-19 pandemic continues.

hands typing on a laptop; image used for a COVID-19 update about the Paycheck Protection Program (PPP) Loan Forgiveness Application

The FAQs cover:

  • General loan forgiveness
  • Payroll costs
  • Nonpayroll costs
  • Reductions

Future legislation may impact this and other PPP-related guidance. We will continue

After careful planning and collaboration with the Employee Benefit Plan Audit and Consulting niche team, PKF Texas hosted its first virtual Zoom webinar during the COVID-19 pandemic, “Retirement Plans: Navigating Recent Law Changes & Using Them to Your Advantage,” on June 25, 2020.

promotional image of Kristin Ryan, Carl Gillette and Brian Giovannini for a Zoom webinar about employee benefit plans during COVID-19 pandemic

The webinar featured Kristin Ryan, CPA, PKF Texas; Carl Gillette, Aon; and Brian Giovannini, Haynes and Boone, LLP, where they discussed:

  • Key provisions of the CARES Act, SECURE Act and other regulatory updates
  • Retirement plans design considerations and best practices
  • Implementation and potential roadblocks


Continue Reading Recap: Retirement Plans: Navigating Recent Law Changes Zoom Webinar

The Paycheck Protection Program (PPP) Flexibility Act amends the Small Business Act and the CARES Act, modifying certain provisions in an attempt to make it easier for businesses to have their PPP loans forgiven. For many companies these are welcome changes. However, there are few things to bring to your attention which could lead to unintended consequences in limited cases.

The one constant in the PPP is that the program will change. We do not expect this recent update to be the final PPP outlook, and we anticipate changes to the forgiveness form, as well as more regulatory interpretations that will impact the Program.


Continue Reading What to Watch Out for in the Paycheck Protection Program Flexibility Act

The COVID-19 pandemic has affected businesses and not-for-profit organizations alike. With Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law, what options do organizations have to receive funds?

The Not-for-Profit team wants to share with you a special information sheet answering questions you may have:

thumbnail image of PDF for cash options for not-for-profit under the CARES act
  • Five ways to get cash now under the

The Small Business Administration (SBA) and Department of Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application with detailed instructions on Friday, May 15, 2020.

hands typing on a laptop; image used for a COVID-19 update about the Paycheck Protection Program Loan Forgiveness Application

The SBA form has instructions that include:

  • The option for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility