Brady Ware News

PPP Loan Forgiveness FAQ

SBA and Treasury issue FAQ for PPP Loan Forgiveness On Tuesday, August 4, 2020, the Small Business Administration and Treasury released a new set of Frequently Asked Questions (FAQs) regarding the forgiveness of Paycheck Protection Program (PPP) loans. These FAQs are intended to address loan forgiveness concerns facing borrowers and lenders. The 10-page document provides…

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Reducing Customer Concentration Risk is Key to Success

Reducing Customer Concentration Risk is Key to Success By Andrew Walker, MBA, CPA COVID-19 has made customer acquisition and sales difficult for many industries and often resulted in a loss of customers. Difficult economic times are providing us the opportunity to diversify customer and product concentrations. Customer concentrations are typically disclosed in financial statements when…

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Ohio State and Local Tax Updates August 2020

Ohio revises sales tax sourcing requirements The Ohio Dept. of Taxation has revised its sales tax sourcing requirements. Marketplace facilitators must now source the sales they facilitate to the location where the consumer receives the property or service. This rule doesn’t apply to the sales of titled motor vehicles, titled watercraft, or titled outboard motors….

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Georgia State and Local Tax Updates August 2020

Georgia FRC develops tool to view sales tax distribution changes year over year Georgia State University’s Fiscal Research Center (FRC) has developed an online interactive data tool that allows users to view year-over-year changes in sales tax distributions at the county, regional or state level from January 2016 through June 2020. The data shows that…

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Michigan State and Local Tax Updates August 2020

Michigan updates MRE filing requirement Michigan updates filing requirement and payment information for the Marihuana Retailers Excise (MRE) tax. Among other things, marihuana sellers are required to file a quarterly return (Form 5676, Marihuana Retailers Excise Tax Quarterly) separate from a sales tax return. These filings are due the 20th of the month following the…

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