SMALL BUSINESS

Cash Flow Best Practices for Businesses Facing Economic Uncertainty

Cash flow is more important than ever. Even when markets are down, taxes will come due, loans will need to be repaid, and investments will be required to keep your organization on sound footing. While a positive cash flow is not the only factor that influences success, it’s a good indicator that a business is [...]

Maximizing Revenue Is a Realistic Goal, Even During a Pandemic

When managing our business operations in times of economic instability, we tend to focus on the expense side of the equation. We ask ourselves: Where can we cut costs? Is this a necessary purchase? Can we negotiate a lower fee? The revenue side can easily get overlooked. But just like our cash outflows, we can [...]

Tax Concerns for Self-Employed Individuals

Today’s workforce is structured differently than it was 10 or 20 years ago. The gig economy began to take hold in the early 2000s, and today, almost a third of working Americans are self-employed or work for the self-employed. Self-employment can be a great opportunity for workers who want to chart their own path, ditch [...]

Latest Update – Economic Injury Disaster Loan (EIDL) Accepting Online Applications Effective June 16th

The Small Business Administration (SBA) EIDL loan program is back in business. Due primarily to the volume of loan activity, the SBA online EIDL application portal was largely shut down on April 15. From April 15 through June 14, the only accepted new applications were those submitted by agricultural businesses not eligible for the EIDL [...]

Understanding Your Accountant’s Language

If the terminology your accountant uses sounds like a foreign language, don’t worry. Understanding your accountant is simpler than you may think. When they mention your P&L or the DOR or leveraged investments, they are talking about concepts you’re already familiar with. With time, these acronyms and terms can easily become second nature to you, [...]

2020-05-21T16:01:32-05:00May 21st, 2020|CLIENT ACCOUNTING SERVICES, SMALL BUSINESS|

Communicating with Your CPA: A How-To Guide

The relationship you have with your accountant can be one of your most valuable connections, but only if you take advantage of it. You can capitalize on that relationship with a little prep work. Your accountant is here to help you achieve your business goals, and it’s a team sport, so they need your help. [...]

2020-05-26T10:57:22-05:00May 21st, 2020|CLIENT ACCOUNTING SERVICES, SMALL BUSINESS|

Latest Revisions To The Economic Injury Disaster Loan And Advance

As with so many things in life these days, change within the Small Business Administration’s Economic Injury Disaster Loan (EIDL) program seems to be inevitable. The EIDL application portal, on the Small Business Administration's website, was overwhelmed with applications for loans and emergency advances within the first couple of weeks of operation. This resulted in [...]

EIDL Program To Get New Life

On April 24, 2020, the President signed a bill providing for expansion of the funding for various relief programs in the total amount of $484 billion. The legislation includes additional dollars for the heavily utilized Paycheck Protection Program, specific funding for hospitals and health care providers to cover coronavirus expenses and lost revenues, and adds [...]

2020-06-09T08:33:23-05:00April 23rd, 2020|CONSTRUCTION, COVID-19, SMALL BUSINESS, Uncategorized|

Maximizing PPP Forgiveness

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. As applicants receive their Paycheck Protection Program (PPP) loan proceeds, their focus is quickly shifting to the maximization of the estimated PPP forgiveness. Unfortunately, specific guidance [...]

2020-06-09T08:52:11-05:00April 23rd, 2020|CONSTRUCTION, COVID-19, SMALL BUSINESS|

The Waiting Game: Is Your Economic Injury Disaster Loan On Its Way?

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the EIDL program by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more: https://www.cricpa.com/additional-funding-ppp-eidl-relief/ Please note that if you have already submitted your application, that the SBA is continuing to process those applications on a first-come, first-served basis. [...]

PPP Guidance for Self-Employed Individuals

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. The Small Business Administration (SBA) has released much-anticipated guidance for self-employed individuals and independent contractors (self-employed individuals) that are applying for a Paycheck Protection Program (PPP) loan. [...]

2020-04-24T13:39:22-05:00April 15th, 2020|CONSTRUCTION, COVID-19, HEALTHCARE, SMALL BUSINESS|

CRI MELBOURNE – Michael Cerow: Brevard Business Support – Tax and Policy Changes for Small Business Owners

CRI Partner Michael Cerow recently spoke in a virtual webinar where he spoke to small business owners in Brevard County, FL. This webinar discussion included information on the CARES Act, the Paycheck Protection Program (PPP), and the Families First Coronavirus Response Act (FFCRA).

CRI PANAMA CITY – Ann Marie Sale: Small Business Administration Launches COVID-19 Loan Help

CRI Partner Ann Marie Sale recently spoke to ABC News Channel 7 in Panama City Beach, FL on April 7, 2020. Her discussion was on the Small Business Administration loans including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) program.

2020-04-14T16:17:04-05:00April 14th, 2020|Around Town, SMALL BUSINESS|

Comparison: COVID-19 Employer Relief Options

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP/EIDL program* by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more.Which COVID-19 relief benefit is right for your business, nonprofit, or governmental entity? The answer depends! Do you have over 500 employees, over 100 employees, under [...]

Important Notice For EIDL Loan Applicants

If you completed an application for an SBA Economic Injury Disaster Loan (EIDL) prior to 9:30PM EDT on Sunday, March 29, 2020, the SBA is advising business entities to reapply for the EIDL using their newly updated online application process. Earlier versions of the application did not include the ability to mark a box that [...]

2020-04-09T19:52:27-05:00April 9th, 2020|COVID-19, SMALL BUSINESS|

How to Increase Your Chances of a Successful Financial Statement Audit

Clean, audited financials open doors for your business. Whether you’re bidding on a major contract or looking for new sources of financing, audited financials will hasten the decision-making process, priming your business for new growth and helping you accomplish other organizational goals. So what can you do to make sure your audit proceeds without a [...]

2020-07-16T12:06:11-05:00April 9th, 2020|CLIENT ACCOUNTING SERVICES, SMALL BUSINESS|

Q & A: Paycheck Protection Program for Small Businesses

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. The recently passed Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, has earmarked nearly $350 billion in a relief program through the Small [...]

CARES Act – Paycheck Protection Program and SBA Economic Injury Disaster Loan (EIDL) – Loan Forgiveness and Advances

As of April 16, 2020, the Small Business Administration (SBA) noted on its website that it is currently no longer able to accept new applications for the Economic Injury Disaster Loan (EIDL) assistance program (including EIDL advances) based on available appropriations funding. Please note that if you have already submitted your application, that the SBA [...]

2020-04-16T14:01:05-05:00March 30th, 2020|COVID-19, DISASTER RECOVERY, SMALL BUSINESS|

Economic Injury Disaster Loans

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has expanded the Small Business Act’s (SBA) Emergency Economic Injury Disaster Loan (EIDL) grant program to allow small businesses, who are suffering economic harm due to COVID-19, access to loans and provided them with $10 billion in funding to support this program. EIDL loans are made [...]

2020-03-28T14:43:59-05:00March 28th, 2020|COVID-19, SMALL BUSINESS|

Main Street Lending: Introduction to the Paycheck Protection Program (PPP)

UPDATE: As of April 24, 2020, the federal government approved replenishment funding for the PPP by way of the Paycheck Protection Program and Health Care Enhancement Act. Learn more. One of the most notable parts of the CARES Act is the opportunity for loan forgiveness through the Paycheck Protection Program (PPP). What is it? How [...]