Vermont businesses are facing unprecedented challenges as they struggle to stay afloat while following all of the new safety guidelines and trying to look optimistically to a future that remains uncertain.
In regards to loan forgiveness it cannot be overstated how critical it is to begin loan forgiveness planning as soon as you receive those funds. Proper planning right now could ensure that you receive the maximum amount of loan forgiveness. It is important to note that as soon as the loan is disbursed, it begins your 8-week payroll protection period.
Our offices in Williston and Rutland are committed to supporting our clients through this pandemic with the ultimate goal of helping them achieve their goal of a prosperous, thriving business.
How can this be done among such uncertainty that has resulted from new tax laws, new business guidelines, and loan forgiveness confusion?
Davis & Hodgdon’s COVID-related tax and business services including:
- Cash-Flow Strategy– This includes looking at ways to increase your funds through cashflow, vendor relationships, financing, and all available national resource programs.
- Comprehensive Tax Review – The CARES Act has changed the tax outlook for every industry. We’ll examine your business’ tax liability and develop a plan to help you benefit from the new legislation.
- Merger and Acquisition Consulting – Market conditions have shifted and will continue to in the coming months. To get the most for your business in a sale, you need to plan in advance to do everything to increase the value, and we can help identify ways to do that. Is the opportunity right for a merger or acquisition? Consider your options and what the future may look like – starting with a business valuation.
- Navigating Federal Government Resources– We’ll help you understand the programs available – including the Payroll Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) program – and ensure the proper paperwork is completed.
- Outsourced Accounting & Outsourced CFO/Controllership – Many need the advice of a seasoned accountant and CFO, but don’t need a full-time employee on their staff or have had to downsize due to COVID-19. Outsourcing your accounting and CFO/Controllership provides you with the benefits and expertise without having to hire someone full-time or go without. In addition, your outsourced CFO works remotely to get the job done.
For more details about the PPP please click here to view Frequently Asked Questions.