BREAKING NEWS

Announcing Our Newest Partner

BMF welcomes with pride and purpose, our newest partner, Marie Lenarduzzi!

Articles & Publications

Ohio Employers to Receive Dividend from Bureau of Workers’ Compensation

Some good news for Ohio businesses. To help Ohio’s economy and business community withstand COVID-19’s challenges, which include temporary business closings, stay-at-home orders, and the record number of unemployment assistance, the Ohio Bureau of Workers’ Compensation’s Board of Directors. Read More >>

Paycheck Protection Program Loan Forgiveness: Timing is Everything

The COVID-19 shutdowns and stay-at-home orders are especially impacting small businesses. Without the normal influx of customers, businesses are struggling to pay rent, keep their employees and stay afloat. The historic stimulus package not only provides business loans to. Read More >>

SBA Modifies Paycheck Protection Program Guidelines

Late on April 2nd, the SBA released its playbook for issuance of loans under the Paycheck Protection Program (PPP) on the Federal Register in the form of an “Interim Final Rule.” This means that banks are now authorized to. Read More >>

Treasury Modifies SBA Loan Regulations

Under the coronavirus relief package, nearly $350 billion was allocated to the Small Business Paycheck Protection Program to help businesses with 500 or fewer employees with loans of up to $10 million. The loans will be forgiven if businesses. Read More >>

CARES Act Provisions and Business Loan Program Guidelines

After days of negotiations, Congress has passed the third phase of federal relief legislation in response to COVID-19, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This bill will provide $2 trillion in economic aid to individuals. Read More >>

State Agencies Issue Financial Relief to Ohio Businesses and Workers in Response to COVID-19

The Ohio Bureau of Worker’s Compensation, The Ohio Department of Insurance and The Ohio Department of Labor have issued orders and additional guidance on insurance premiums and FMLA requirements for employers and employees in light of the COVID-19 impact.. Read More >>

SBA Offering Ohio Businesses Low-Interest Federal Disaster Loans in Response to COVID-19 Coronavirus

Ohio small businesses are now eligible for the SBA’s Economic Injury Disaster Loans. The U.S. Small Business Administration has announced it is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a. Read More >>

Is This the End of the Limited Scope Audit?

November 18, 2019 Benefit Plans

In July, the AICPA Auditing Standards Board (ASB) issued Statement on Auditing Standards (SAS) No. 136 – Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA. These new standards will go into effect. Read More >>

FASB Approves Delay for 3 Accounting Standards: Leases, Credit Losses, Hedging Dates Deferred

After a unanimous vote on Wednesday, the Financial Accounting Standards Board (FASB) approved proposals to delay the effective dates for three of its major accounting standards: leases, credit losses and hedging. As we reported back in July, the FASB. Read More >>

Revenue Recognition Standards Implementation – Deadline and Alternate Option

The Financial Accounting Standards Board’s (FASB) new revenue recognition standards will not only affect public companies, but also many private companies whose lenders or investors require them to follow generally accepted accounting principles (GAAP). If your organization is one. Read More >>