Dalby, Wendland & Co. News

Reporting Restricted Cash

Your company’s financial statements should be transparent about any restrictions on cash. Are your reporting practices in compliance with the current accounting guidance? The Basics Restricted cash is a separate category of “cash and cash equivalents” that isn’t available for general business operations or investments. There are many types of

2021-03-30T13:43:50-06:00March 30th, 2021|

ARPA Modifications for Employers

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, extended and significantly modified the payroll tax credits for qualifying sick leave and family leave wages. Below is a summary of the key provisions. Background: Both Covid-19-related credits were initially provided by the Families First

2021-03-25T08:34:04-06:00March 25th, 2021|

When to File a Gift Tax Return

It’s tax-filing season and you’re likely focused on your income or business tax returns. But don’t forget about another type of return. In 2020, if you made substantial gifts of wealth to family members you may have to file a gift tax return. Filing a Gift Tax Return Generally, a

2021-03-23T10:27:42-06:00March 23rd, 2021|

The Restaurant Revitalization Fund

The billions of additional relief funding established by the recently passed American Rescue Plan Act includes new tax-free federal grants specific to the restaurant industry. The Restaurant Revitalization Fund (RRF) has $28.6 billion slated for industry-focused grants to be administered by the Small Business Association (SBA). SBA is currently working

2021-03-19T07:41:09-06:00March 19th, 2021|

The New American Rescue Plan Act of 2021

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP Act), the $1.9 trillion COVID-19 relief package aimed at stabilizing the economy, providing needed relief to individuals and small businesses, and improving and accelerating the administration of coronavirus vaccines and testing. The House of Representatives passed the

2021-03-16T15:51:54-06:00March 16th, 2021|

Should a distressed company consider debt restructuring?

Many businesses have experienced severe cash flow problems during the COVID-19 pandemic. As a result, some may have delayed or missed loan payments. Instead of filing for bankruptcy in court, delinquent debtors may reach out to lenders about restructuring their loans. Restructuring vs. Chapter 11 Out-of-court debt restructuring is a

2021-04-12T14:53:26-06:00March 4th, 2021|
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