Daniel Stanhope
SBA FAQ Indicates Good Faith Assumed for PPP Loans Under $2M
In a dramatic turn of events the Small Business Administration (SBA) released Paycheck Protection Program (PPP) Loans FAQ #46 today, May 13th regarding how the organization will review borrowers’ required good-fair certification concerning the necessity of their loan request. Loans Under $2 Million The FAQ reads “Any borrower that, together with its affiliates, received PPP […]
SBA, Treasury Extend Safe Harbor to Return PPP Funds, and New Guidelines for International Businesses
Updated May 14, 2020 AAFCPAs would like to make clients aware that in their recent Frequently Asked Questions for Lenders and Borrowers, the Treasury and the Small Business Administration announced an additional extension of the “safe harbor” deadline for recipients of Paycheck Protection Provision (PPP) loans. PPP loan borrowers are now allowed to return the […]
Questions Businesses Need to Address to Support PPP Loan Certifications
AAFCPAs has provided the following sample questions borrowers should address in a written “living document” supporting that PPP loan certifications were made in good faith. We recommend outlining responses contemporaneously in a journal format that can be appended over time as further guidance becomes available and relevant facts and circumstances evolve. Impact on Business Operations […]
Guidance on SBA Disaster Loans, AAFCPAs’ CARES Act Task Force Mobilized to Assist
UPDATE 4/16/20: Initial Round of SBA Disaster Loan Funds Exhausted; Now what? AAFCPAs would like to make clients aware that the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation, signed by President Trump on Friday, March 27th, 2020, creates two Small Business Administration (SBA) loan programs available to businesses to prevent devastation caused by […]
AAFCPAs’ Dan Stanhope Attains Certified Construction Industry Financial Professional
AAFCPAs’ Partner Dan Stanhope, CPA, MSA has been awarded the Certified Construction Industry Financial Professional (CCIFP) credential issued by the Institute of Certified Construction Industry Financial Professionals (ICCIFP). Dan was awarded the CCIFP credential in recognition of his earned expertise in the complex specialty of construction accounting and financial management. The rigorous credentialing exam verified […]
AAFCPAs’ Partner Dan Stanhope Awarded 40 Under Forty 2019
AAFCPAs is honored to announce that Partner Daniel Stanhope, CPA, MSA was selected for the Worcester Business Journal’s 2019 40 Under Forty Awards. These distinguished awards recognize the best and brightest business leaders under 40 in Central Massachusetts. “We are exceptionally proud Dan has been singled out for his accomplishments and continued commitment to impact […]
AAFCPAs Guidance for Contractors: Best Practices For Optimizing The Balance Sheet For Users Of Your Financials
AAFCPAs reminds readers of the critical importance of the balance sheet, and advises our construction clients to ensure their presentation of this statement of financial position is optimized in order to demonstrate a solid foundation. Your balance sheet provides a ‘snapshot’ of your company’s financial position at a single point in time, and provides critical […]
Unique Tax Breaks for Breweries
Is your business familiar with the unique tax breaks available in the brewery industry? AAFCPAs has provided for your convenience the below tax insights that could have a major impact on reducing your tax burden: Section 179 Depreciation Breweries are capital intensive businesses, and equipment investments can be significant. Section 179 allows breweries to deduct […]
Burden calculations: How to allocate your indirect cost pools to specific jobs
Indirect costs are a necessary part of doing business and a factor unavoidably impacting your company’s profit margins. It is important for contractors to allocate indirect costs to specific jobs in order to truly understand your true cost structure. In an earlier blog, I illustrate how Ready-Access to True Costs Will Guide Profitability. Read more>>. […]