MBE Blog

Industry insights and education to keep you up to speed and ahead of the competition.

Working from Home? How to Deduct Your Home Office Expenses

Working from Home? How to Deduct Your Home Office Expenses

With taxpayers working from home these past weeks, you may want to consider claiming a business deduction for expenses that qualify. However, there is uncertainty for taxpayers when it comes to the details of the requirements for a home office. To be eligible for a...

PPP Loan Update

PPP Loan Update

*This post is continuously updated with new information. Please see dated updates below.* May 28, 2020- The House and Senate are proposing bills with considerable amendments to the PPP loan program. As of right now nothing has changed, however, the House will be...

Q&A For Returning Workers

Q&A For Returning Workers

As business owners prepare for employees to return to the workplace, there are several questions that will come up. We want to provide some insight and assist employers as they welcome employees back to the workplace. 1. Do I have to report to the workplace? Yes,...

SBA & Department of Treasury Offers New Guidance on PPP Loans

SBA & Department of Treasury Offers New Guidance on PPP Loans

*This post has been updated.  The Small Business Administration (SBA) & US Department of Treasury issued an updated FAQ last week. For the full guidance, see https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Frequently-Asked-Questions.pdf As...

Deferral of Employment Tax Deposits and Payments Through 2020

Deferral of Employment Tax Deposits and Payments Through 2020

We would like to make you aware that part of the CARES Act allows employers to defer the deposit and payment of the employer’s share of Social Security taxes (6.2% of gross taxable wages). You can defer payments of the employer’s portion of Social Security now through...

Unemployment Benefits Update

Unemployment Benefits Update

As you are aware, small businesses have been hit hard due to COVID-19. MBE CPAs and its affiliates have been receiving numerous questions with regard to unemployment and we would like to provide information and clarity to help you get through this difficult time. If...

The SBA Supplementary Guidance for Self-Employed, Schedule C

The SBA Supplementary Guidance for Self-Employed, Schedule C

Review the SBA supplementary information to the PPP. The application for the PPP has not changed with this new guidance. Schedule C taxpayers with no employees will use the same form found here. With your loan application, you will need to include a copy of your 2019...

Recommendations For Paychecks Protection Program (PPP) Loans

Recommendations For Paychecks Protection Program (PPP) Loans

The PPP loan applications are now being processed and approvals are being received. We believe there are opportunities for those accepting these funds to achieve the best possible outcome through proper planning. Although total loan forgiveness is possible through...

PPP & EIDL Applications

PPP & EIDL Applications

.*This post has been updated to include guidance from the U.S. Chamber of Commerce.  Paycheck Protection Program (PPP)  Review the SBA PPP Borrower Guide and SBA Overview. Also see our PPP Loan FAQ page.  Contact your lender to ensure you are aware of program...

CARES Act Summary – Important Changes to Retirement Plans

CARES Act Summary – Important Changes to Retirement Plans

By: Mike Pruitt, CFP®, RICP® Financial Planner, MBE Wealth Management *This post has been updated to included new information about retirement plan withdrawals. The Required Minimum Distribution Is Waived For 2020 Much like the 2008 legislation stemming from the...

Marketing Ideas From the Right to Evolve Team

Marketing Ideas From the Right to Evolve Team

Consider taking a look at your marketing plan during COVID-19 and work on the business. Here the Right to Evolve team offers some ideas to consider taking action on during this time.

Press Release From the Office of Governor Evers

Press Release From the Office of Governor Evers

Below is a press release from the office of Wisconsin Governor, Tony Evers. FOR IMMEDIATE RELEASE: March 20, 2020 Contact: [email protected] or 608-219-7443 Gov. Evers Announces Federal Approval of Disaster Loans for Small Businesses MADISON — Gov. Tony Evers...

Helpful Links

Helpful Links

In response to the COVID-19 National State of Emergency, several government agencies have created webpages for employers. Here’s a partial listing of those websites: US Chamber of Commerce: https://www.uschamber.com/co/ CDC COVID-19 Homepage:...

Business Layoffs Due to COVID-19

Business Layoffs Due to COVID-19

If you need to conduct layoffs due to COVID-19, then your business may be exempt from the federal and state Worker Adjustment and Retraining Notification (WARN) regulations. One of the exemptions is unforeseen business circumstances, and it is highly likely that a...

Top 7 Things to Do Right Now

Top 7 Things to Do Right Now

A message from MBE CPAs, Managing Partner, Tim Moy   Here are the top 7 tips for you to consider if your business is directly or indirectly impacted by COVID-19 (make no mistake that in the end we are all being affected). Staff Plan: Create a plan that maximizes you...

Unemployment Benefits

Unemployment Benefits

MBE and its affiliates have received numerous questions concerning unemployment benefits (in connection with COVID-19). The DWD added a link concerning COVID-19 to its website https://dwd.wisconsin.gov/covid19/public/ui.htm. This link contains helpful information...

MBE CPA Client Additional Pickup and Dropoff Options

MBE CPA Client Additional Pickup and Dropoff Options

At MBE CPA’s we feel strongly that the health and safety of our employees, their families, our clients, and our communities are of critical importance.  We would like you to be aware of the following options available to you: You may submit your data electronically...

COVID Relief Funds GuideWondering how your COVID Relief Funds will effect your 2020 return? Full out the form below and we'll send you our full list of relief funds and their taxability for you to reference when your preparing for your tax filings.