Your Partner for Bookkeeping and Controller Services

Contact Us

What are you interested in learning more about?

×

Chesapeake Region, MD


Tax Breaks Available to Some Businesses That Got PPP Loans

January 11, 2021 / by Jeff Kordela posted in Chesapeake Region, MD, Business Continuity

0 Comments

Your company might be eligible for ERC tax credits of up to $5,000 per employee — even if you were previously told your PPP loan made you ineligible.

What started as a health pandemic has become a business pandemic. Many companies, even some that received Paycheck Protection Program (PPP) loans, continue to fight for survival. But some businesses can receive additional assistance thanks to provisions in the Consolidated Appropriations Act (CAA), 2021, which extends Employee Retention Credit (ERC) benefits until July 1.

And if you think changes to the ERC don't affect you because you got a PPP loan, think again. Yes, initially, businesses had to choose between PPP and ERC for pandemic relief. But now some businesses that took PPP loans are retroactively eligible for tax breaks of up to $5,000 per employee under the ERC. If your business qualifies, you don't want to miss this opportunity.

Read More

Reimagine Your Business for Long-term Success

June 23, 2020 / by Allan Hirsh posted in Chesapeake Region, MD

0 Comments

Strengthen the core of your business by shifting your focus from how to why. Learn how reimagining your business can position your business for success.

Lately, there have been a lot of blogs about obtaining financial support to help your business survive the COVID-19 crisis. And while such advice can be helpful in the short term, it's like teaching someone how to tread water: It can prevent drowning, but it's not a long-term survival strategy.

I'm more interested in teaching you how to swim.

Focus on Your Why, not Your How
Business owners tend to get bogged down in the details of how they do what they do rather than why they do it. That can be an obstacle to progress even in the best of times. During the coronavirus pandemic, it can be disastrous.

You need to open your mind to a different approach — an "AHA moment," as we call it at Allan Hirsh Advisors. For example, I have a client who operates a retail outlet at a major airport. When the pandemic hit, she was forced to close her store for the time being.

Read More