BREAKING NEWS

BMF Wins Best of Accounting® Award

We have been awarded 2021 Best of Accounting Award for providing superior client service. BMF received significantly higher satisfaction scores than the industry average.

Articles & Publications

Restaurant Revitalization Fund: Grant Opportunities Available Soon

As we’ve now surpassed the one-year mark since the global pandemic first began, it’s hard to deny that the restaurant industry has been one of the hardest-hit sectors during this time. The Restaurant Revitalization Fund (RRF) relief program was. Read More >>

Paycheck Protection Program: Moving from Application to Forgiveness

Since the pandemic began, we have been monitoring and reporting on the Paycheck Protection Program (PPP), as well as all of the guidance and modifications resulting from several acts of Congress. With nearly four million PPP loans already approved,. Read More >>

Paycheck Protection Program Application Deadline Extended 60 Days

After sailing through the U.S. House of Representatives, the U.S. Senate approved the extension of the filing deadline for Paycheck Protection Program (PPP) applications by 60 days and provides an additional 30 days for the U.S. Small Business Administration. Read More >>

IRS Releases Additional Guidance for 2020 Employee Retention Credit

The Employee Retention Credit (ERC) and Paycheck Protection Program (PPP) were created in the CARES Act under the COVID-19 relief program. Originally, they were separate programs and an employer was only allowed to participate in one program. In December,. Read More >>

Schedule C Borrowers Can Use Gross Income for Paycheck Protection Program Loan Calculations

Sole proprietors and self-employed individuals might be getting a well-needed break with regard to the recently updated guidance on Paycheck Protection Program (PPP) loans. Schedule C filers that apply for PPP loans have been required to use their business. Read More >>

Calculations Guidance Released for Paycheck Protection Program Loans

There has been a flurry of activity since late December and changes are still occurring. The second round of PPP funding; expansion of the Employee Retention Credit (ERC); various introductions of new and/or updated forms; interpretations for calculating revenue. Read More >>

SBA Issues Guidance on Second Draw Paycheck Protection Program Loans; Reductions in Gross Receipts

The SBA issued 18 pages of guidance in the form of Frequently Asked Questions (FAQs) to help companies assess whether they qualify to borrow funds under the Paycheck Protection Program and the types of documentation they would need to. Read More >>

SBA & Treasury Announce Full Reopening of Paycheck Protection Program Applications

Earlier this week we posted that the revamped Paycheck Protection Program (PPP) application portals had reopened for select borrowers and would be open to all other businesses shortly thereafter. Application forms for first and second-draw loans were made available.. Read More >>

Revamped Paycheck Protection Program Opens, Application Forms Released

As we mentioned last week, the U.S. Small Business Administration (SBA) and Treasury released the loan application forms for the revamped Paycheck Protection Program (PPP). The application portals, which launch today, are open for small community financial institutions to. Read More >>

SBA & Treasury Issue Guidance for Second Draw Paycheck Protection Program Funding

*UPDATE* The SBA and Treasury announced that the revamped Paycheck Protection Program will open Monday 1/11/21 for select lenders and borrowers. Read post >> The U.S. Small Business Administration (SBA) and Treasury issued regulatory guidance Wednesday evening for the. Read More >>