Businesses face disruption on multiple fronts, and they are struggling to get things done. Company leaders must contend with the pandemic’s health threat and the challenges of managing a remote workforce, as well as supply chain disruptions, demand shifts, resource...
Williams Overman Pierce is proud to announce that the firm has achieved the distinction of being in business for 50 years, proudly serving clients since 1971. Williams Overman Pierce was founded in Greensboro, NC in 1971. Over the past 50 years, the firm has seen...
Summary As 2020 draws to a close, employers should be reviewing whether they have properly included common fringe benefits in their employee’s and (if applicable) 2% S corporation shareholders’ taxable wages. This is especially true for 2020, since the CARES Act made...
Whatever 2021 holds, these tips can help lower your tax liability 2020 has been an unpredictable year. Businesses have faced all-encompassing challenges ranging from protecting employee health and safety to managing unexpected costs to dealing with severe fluctuations...
As 2020 draws to a close, we would like to remind you that this year-end may not be the same as 2019 when it comes to payroll taxes and compensation and benefits matters. This alert highlights various areas of change and what employers should be focusing on. New Form...
Summary In a welcome notice (Notice 2020-75) released on November 9, 2020, the IRS announced that proposed regulations will be issued to clarify that state and local income taxes imposed on and paid by a partnership or an S corporation (i.e., pass-through entities or...
Background The forgivable loan program known as the Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial resources to small and mid-size businesses to enable them to maintain...
The impact of blackouts, national emergencies, recessions and other singular or cyclical events on the U.S. birth rate has been a subject of study and interest since the Baby Boomer phenomenon displayed the far-reaching effects a population surge can have on...
Earlier in the year, the Small Business Administration (SBA) announced in an updated FAQ on the program that it will be auditing all Paycheck Protection Program (PPP) loans of $2 million or more. Borrowers whose loans meet this threshold amount might receive a Loan...
Understanding obligations and available state tax relief will help businesses navigate the pandemic. As businesses continue to assess the myriad implications of the COVID-19 pandemic, one area of focus should be on the impact of legislation, regulations and guidance...