May 26, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Medical Practices, Not-for-Profit, Private Equity-SBICs and Venture Capital, Tax News
What exactly is the medical loss ratio? It’s a calculation the Affordable Care Act imposed on insurance companies. In brief, the MLR requires individual and small-group carriers to spend at least 80% of premiums on medical expenses; large-group plans must spend...
May 21, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Not-for-Profit, Private Equity-SBICs and Venture Capital
In early May, the Equal Employment Opportunity Commission published extensive guidance for employers and employees on how various laws and regulations apply to the pandemic. Below are some highlights, but it’s a good idea to review the entire page. Can an...
May 20, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Not-for-Profit, Private Equity-SBICs and Venture Capital, Tax News
You may have been one of the businesses that pounced on the hastily assembled Paycheck Protection Program in hopes of getting a loan. Many businesses succeeded, but some did not, and it’s not always clear why. If you didn’t, here are some clues why. Your...
May 18, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Not-for-Profit, Personal Financial Planning, Private Equity-SBICs and Venture Capital, Tax News
The IRS has granted relief for 125 cafeteria plans, health flexible spending arrangements and dependent care assistance programs. In Notice 2020-29, the IRS has: Extended claims periods for taxpayers to apply unused amounts remaining in a health FSA or dependent care...
May 16, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Not-for-Profit, Private Equity-SBICs and Venture Capital, Tax News
June 3 Update: Senate Approves Paycheck Protection Program Flexibility Act of 2020; President Trump Expected to Sign. Late on May 15, the SBA released Form 3508, Paycheck Protection Program (PPP) Loan Forgiveness Application. Included in the 11-page document are the...
May 14, 2020 | Business Planning, Closely Held Business, Coronavirus Updates, Coronavirus Updates, Employee Benefit Plans, Government Contracting, Not-for-Profit, Private Equity-SBICs and Venture Capital, Tax News
Late Wednesday, May 13, the SBA added new FAQ #47 to their updated PPP Loan Guidance that PPP loans of less than $2 million will be deemed to have been made in good faith. Click here to view MCB’s article on FAQ #46. FAQ #47 is copied below, and simply states that...
