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Tuesday, August 11, 2020

1:00 - 2:00 p.m. EST

CONSTRUCTION AND REAL ESTATE WEBINAR

COVID-19 and the Property Tax Appeal Process: No Better Time to Manage This Expense

The property tax system is hundreds of years old, full of local quirks and mired in bureaucracy, customs, politics, case law and legislation. Once a small expense for commercial real estate, it has grown rapidly and is expected to escalate faster than profits to support to it. COVID-19 and its many societal and economic ramifications has opened new doors to reduce this burden. This one-hour seminar will acquaint you with a primer on how the system works, the appeal calendar and the tried and true bases for reducing property taxes. It is not about politics - it is about applying the principles of the system for a legal and inexpensive appeal.

This webinar is eligible for 1 hour of CPE credit.

REGISTER

OUR PRESENTER

MARY O''CONNOR, ASA, CRE, CMI, CFE

PARTNER

FORENSIC AND VALUATION SERVICES

MARY.OCONNOR@SIKICH.COM

PH: 312.648.6652

Mary O'Connor, ASA, CRE, CMI, CFE is a Partner in the Forensic and Valuation Services division of Sikich LLP. She has earned a national reputation in property tax valuation and appeal related to the non-realty and intangible portion of complex property types such as hotels, senior living/skilled nursing centers, hospitals, duty-free retail, office buildings and agricultural special uses. She has presented on this topic on numerous occasions to the Institute of Professionals in Taxation (IPT), the American Property Tax Counsel (APTC) and the Annual Wichita Ad Valorem conference and has testified in successful taxpayer cases across the United States resulting in millions of dollars in tax savings.

Sikich LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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PAYCHECK PROTECTION PROGRAM (PPP)

BORROWERS CERTIFICATION OF ECONOMIC NEED AND UNCERTAINTY FOR PPP LOAN - CHECKLIST OF CONSIDERATIONS

The following is a list of questions and other considerations for borrowers as it relates to their Economic Uncertainty certification for their PPP loan. This a checklist to guide borrowers in documenting the economic uncertainty that existed for the borrower that led it to apply for a Paycheck Protection Program (PPP) loan. This will assist the borrower in supporting its need for the PPP loan to continue the ongoing operations of the borrower. This checklist is not meant to be all-inclusive, as there could be other relevant specific facts and circumstances that vary from one borrower to another.

ACCESS THE CHECKLIST

RELATED INSIGHTS

SBA ALLOWS BORROWERS TO RETURN PPP LOANS IF UNABLE TO SHOW LOAN NECESSITY

PPP loans drew much attention and interest from many businesses. The Treasury Department and SBA provided guidance as quickly as possible to assist businesses and lenders in applying for these loans, although not every item was addressed. There were several certifications required by a borrower when he or she applied for a PPP loan. One of the certifications a borrower made in their application was that the "current economic uncertainty makes the loan request necessary." Read more.

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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CONSTRUCTION AND REAL ESTATE INDUSTRY UPDATE

Our construction and real estate tax industry experts are committed to working with you to navigate business and tax opportunities to strengthen your company. Below, we highlight some specific tax savings and business advice impacting your industries.

Construction & Real Estate Loan Covenants During the Pandemic

Many mortgage lenders provided loan modifications or deferral of mortgage payments at the beginning of the pandemic, but a second modification will likely be much more difficult to obtain for commercial real estate investors. Read more.

Overtime Rules in 2020

Effective January 2020, new overtime rules apply according to the Department of Labor. This will affect many employers, as millions of employees will now be eligible for overtime pay. Read more.

2020 Blueprint: Succession Planning for the Construction Industry

Business succession planning is a process of continuous preparation and risk management and is more applicable than ever, as 2020 has brought us unique challenges and opportunities. Read more.

No More Stopping Construction: Enabling an Essential Industry to Thrive

The right technology can help construction companies grow and succeed now and in the post-pandemic future. Learn how Sikich's construction management software, HEADSTART for Construction, can help you address typical industry challenges. Read more.

Depreciation Planning for Real Estate Like-Kind Exchanges

A like-kind exchange can offer an advantageous tax planning strategy for real estate companies; however, they do not come without complexities and additional compliance, especially regarding depreciation. Read more.

COVID-19 AND THE PROPERTY TAX APPEAL PROCESS: NO BETTER TIME TO MANAGE THIS EXPENSE WEBINAR

The property tax system is hundreds of years old, full of local quirks and mired in bureaucracy, customs, politics, case law and legislation. Once a small expense for commercial real estate, it has grown rapidly and is expected to escalate faster than profits to support to it. COVID-19 and its many societal and economic ramifications has opened new doors to reduce this burden. Click here to read the article or below to watch the webinar.

WATCH THE WEBINAR RECORDING

SIKICH NAMED TOP 50 CONSTRUCTION ACCOUNTING FIRMS

BY CONSTRUCTION EXECUTIVE

OUR EXPERT

LAURA CULP, CPA, PFS, MT, CCIFP

Partner, Tax Services

Construction/Real Estate Vertical Leader

P: 330.864.6661

E: laura.culp@sikich.com

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

ABOUT SIKICH

Sikich LLP is a leading professional services firm specializing in accounting, advisory, technology and managed services.

WWW.SIKICH.COM

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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PPP Loan Forgiveness and Opportunities with the Research Tax Credit

There could be an opportunity for businesses that obtained a PPP loan and also expect to claim the Research Credit this year. This Sikich Tax Alert highlights the intersection of the PPP loan and the Research Credit and how to get the most benefit out of both.

Read more ?

Update on Payroll Tax Deferral and IRS Guidance

While the IRS has not issued additional formal guidance on the payroll tax deferral executive order since Notice 2020-65 was released, there have been some interesting developments. One of the more important updates includes that the deferral is optional.

Read more ?

Questions? Contact Tax Partner, Jim Brandenburg, CPA, MST, at jim.brandenburg@sikich.com.

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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TUESDAY, OCTOBER 6th | 9:00 - 10:00 AM EST

NEW CONSIDERATIONS FOR BUSINESS SUCCESSION PLANNING

The business environment created by COVID-19 offers owners an opportunity to get ahead on their succession plans and prepare for the future. Even if your company is only focused on today''s details, there are still steps than can help you stay focused on the big picture and allow for the best outcome once the pandemic subsides.

Join us on October 6th as we discuss current business succession planning considerations from an accounting, legal, and human capital perspective:

Strategies for maximizing sale price and net proceeds
Identifying and cultivating a properly aligned leadership team
Evaluating the need for shareholder and other succession planning contracts
Keys to designing your Ownership Transfer and Succession Management (OTSM) plan

REGISTER NOW

OUR PRESENTERS

Pattie Wagner

Managing Director

Human Capital Management

Sikich LLP

pattie.wagner@sikich.com

Justin M. Alaburda

Co-Managing Partner & Member

The Law Firm of

Brennan Manna & Diamond

jmalaburda@bmdllc.com

Ray Lampner

Partner & Certified Exit

Planning Adviser

Sikich LLP

ray.lampner@sikich.com

HOSTED BY

BMD is an entrepreneurial, pro-business law firm with over 70 attorneys serving clients in a wide variety of industries. We strive to understand our clients' goals, and know how our work affects the future of their business. Our services cover virtually every prospect businesses face, from company startups to dispute resolution, from mergers and acquisitions to sophisticated transactions.

Learn more.

Sikich offers a formula of professional services uniquely crafted to address your business's challenges and opportunities. Our comprehensive skillsets, obtained over decades of experience as entrepreneurs, business owners and industry innovators, allow us to provide insights and transformative services to help strengthen every dimension of your business.

Learn more.

274 White Pond Drive, Akron, OH 44320
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PAYCHECK PROTECTION PROGRAM (PPP) LOANS

DO YOU NEED AN ECONOMIC UNCERTAINTY STUDY?

In the initial PPP loan application, borrowers were required to make several representations and certifications. One of the certifications dealt with the current economic conditions of the borrower. Each borrower specifically certified in good faith the following:

"Current economic uncertainty makes the loan request necessary to support the ongoing operations of the Applicant."

At the time of the PPP loan request, it is likely that many borrowers and their stakeholders were unsure of the future and the magnitude of the impact of the pandemic, as well as the economic impact of the shutdown of most of the country. This certification at that moment appeared to most borrowers to be an easily attainable standard. This economic uncertainty certification, however, has become an important issue with the SBA and many borrowers (especially those with PPP loans over $2,000,000). Borrowers should consider documenting the need for their PPP loan.

READ MORE

RECAP OF MAJOR UPDATES

HOUSE SENDS TO SENATE LEGISLATION RELAXING SOME PPP LOAN FORGIVENESS RULES

CAPITAL CORNER - SIKICH'S ANALYSIS OF TAX DEVELOPMENTS IN WASHINGTON: While the COVID-19 pandemic has slowed many parts of the country, Congress has continued to push forward with legislation to assist businesses and workers. They have passed four separate pieces of legislation, and they will be working on another large bill in June. Congress is also working on a smaller separate bill designed to address several issues related to the recent CARES Act legislation adopted in late March 2020. Read more.

SEIZE THE OPPORTUNITY TO ENGAGE AND INSPIRE

Employee engagement, or having workers that are fully committed to helping their company achieve its goals, is more than a management or HR buzz phrase. It's a practice firmly backed by financial results. Engaged employees are motivated and more likely to show up to work each day, doing their part to help their companies succeed. Read more.

MICROSOFT FAMILY GROUP - PROTECT YOUR CHILDREN USING THE COMPUTER DURING STAY AT HOME ORDERS

INTRODUCING THE MICROSOFT FAMILY GROUP: Microsoft has a free service that enables you to put locks on the files that you don't want your child to access as well as all the other files with unknown contents with Microsoft Family Group.

Read more.

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

Click here to unsubscribe or to change your Subscription Preferences.

Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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SIKICH BUSINESS BRIEFING: CORONAVIRUS CRISIS

The latest webinar in our weekly Business Briefing on the Coronavirus crisis is now available for viewing on-demand. This week, our experts discuss recent loan developments including paycheck protection, sole proprietors, and federal reserve updates as well as CARES Act clarifications and tax provisions examples.

View the presentation materials here.

As we continue to monitor and navigate the current situation, we encourage you to reach out to your Sikich team, our subject matter experts or submit your questions via this submission form.

Stay tuned for future communications as we navigate this rapidly evolving situation.

CORONAVIRUS

(COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center . This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

QUICK RECAP OF MAJOR UPDATES: WEEK OF APRIL 6, 2020

UPDATE: PAYROLL TAX DEFERRAL

One of the tax provisions in the CARES Act was the deferral of an employer''s payroll taxes. The new law permits the employer''s share of its FICA taxes for the period March 27, 2020 (the date the law was enacted) through December 31, 2020 to be deferred. This amount is then paid 50% on December 31, 2021 and 50% on December 31, 2022. The IRS issued its first guidance on this provision today (April 10, 2020) in an FAQ on its website. One item to note is Question #4 which deals with companies that have applied for a Paycheck Protection Program (PPP) loan that may be forgiven if certain requirements are met after an eight-week period. This FAQ indicates that a company can use the payroll tax deferral up to the point it receives notification that its loan will be forgiven. Thus, it can use the payroll tax deferral for that interim period. Please review this IRS FAQ for other issues related to this new payroll tax deferral item.

UNDERSTANDING THE CARES ACT LOAN PROVISIONS

The loan provisions with the CARES Act can be, like most legislation, confusing. To make matters even more complicated, some parts of these loans are still getting resolved and changes are still occurring as banks prepare their procedures. Working with your banker for Paycheck Protection Program (PPP) loan program is incredibly important during this time. Read more.

AS COVID-19 CONTINUES TO IMPACT OUR BUSINESSES, WE LOOK ARDENTLY TO THE FUTURE

As we embark on another week amidst a pandemic that continues to unfold before our eyes, hear several thoughts from our CEO, Chris Geier. Read more.

IRS DEVELOPMENTS WITH EMPLOYEE RETENTION CREDIT AND PAYROLL REPORTING FOR PAID LEAVE

On March 27, 2020, Congress passed and the President signed into law the CARES Act. In a matters of days, the IRS issued timely and essential information concerning the impact of CARES to businesses, employers and employees. We highlight some of the key updates here.

SBA ISSUES INTERIM FINAL RULE FOR PAYCHECK PROTECTION LOAN PROGRAM

On April 2, 2020, the Small Business Administration (SBA) issued its Interim Final Rule on the Paycheck Protection Loan Program (PPP) from the recent CARES legislation. This lays out the SBA formal guidance for implementing the PPP loans. The latest developments in this guidance are summarized here.

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

Click here to unsubscribe or to change your Subscription Preferences.

Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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TUESDAY, OCTOBER 6th | 9:00 - 10:00 AM EST

NEW CONSIDERATIONS FOR BUSINESS SUCCESSION PLANNING

The business environment created by COVID-19 offers owners an opportunity to get ahead on their succession plans and prepare for the future. Even if your company is only focused on today''s details, there are still steps than can help you stay focused on the big picture and allow for the best outcome once the pandemic subsides.

Join us on October 6th as we discuss current business succession planning considerations from an accounting, legal, and human capital perspective:

Strategies for maximizing sale price and net proceeds
Identifying and cultivating a properly aligned leadership team
Evaluating the need for shareholder and other succession planning contracts
Keys to designing your Ownership Transfer and Succession Management (OTSM) plan

REGISTER NOW

OUR PRESENTERS

Pattie Wagner

Managing Director

Human Capital Management

Sikich LLP

pattie.wagner@sikich.com

Justin M. Alaburda

Co-Managing Partner & Member

The Law Firm of

Brennan Manna & Diamond

jmalaburda@bmdllc.com

Ray Lampner

Partner & Certified Exit

Planning Adviser

Sikich LLP

ray.lampner@sikich.com

HOSTED BY

BMD is an entrepreneurial, pro-business law firm with over 70 attorneys serving clients in a wide variety of industries. We strive to understand our clients' goals, and know how our work affects the future of their business. Our services cover virtually every prospect businesses face, from company startups to dispute resolution, from mergers and acquisitions to sophisticated transactions.

Learn more.

Sikich offers a formula of professional services uniquely crafted to address your business's challenges and opportunities. Our comprehensive skillsets, obtained over decades of experience as entrepreneurs, business owners and industry innovators, allow us to provide insights and transformative services to help strengthen every dimension of your business.

Learn more.

274 White Pond Drive, Akron, OH 44320
To unsubscribe from future emails or to update your email preferences, click here.

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Improving business performance by deploying best-fit technology solutions.

APRIL 2020

How CARES Act Impacts Your Finances and Business

Congress has passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748). This historic legislation is a $2 trillion plan designed to provide economic assistance to those impacted by the current Coronavirus pandemic. The goal of the legislation is to assist individuals and businesses as quickly as possible. Catch-up on the latest CARES Act information.

Essential Guide to the CARES Act

How to Include Remote Work into Your Pandemic Planning

As organizations are faced with how to meet the needs of their customers, Sikich wanted to provide some guidance on what your pandemic plan should entail and how to incorporate that plan into an existing business continuity (BC) and disaster recovery (DR) plan.

Historically, organizations have looked at a BC/DR plan through the lens of natural disasters and terrorism that would affect the physical location of an organization's headquarters or data centers. With a pandemic, the focus is shifted to supporting employee health and safety while still providing goods and services to maintain the business. Pandemic planning should incorporate many of the steps that would go into traditional BC/DR planning. The following guidance focuses on what you should consider in a pandemic plan.

Learn More

Take Advantage of This Challenging Time to Move Your Business Forward

Entire businesses are working remotely, but this could also be an opportunity to pursue a strategic ERP Implementation. You might be able to take advantage of the Paycheck Protection Program under the CARES Act, and replace aging or specialized software applications.

Stay Ahead

Tips to Stop COVID-19 Scammers

COVID-19 presents scammers with the opportunity of a lifetime. Of course, attackers are not taking a break during this crisis. On the contrary, they are working overtime. Don't fall for phishing and clickbait scams with COVID-19 themes.

Prevent Phishing

Remote Access Risks During the Coronavirus Crisis

There is a lot of concern regarding remote access security during this time of quarantine or any other time. What is the best way to provide remote access? I've heard that phone-based MFA isn't safe. Is that true? Receive detailed answers to these questions and more.

Secure Your Remote PC

Earlier Insights

Covid-19 Telecommuting

COVID-19 is requiring most workers to stay home; are your current tools for remote work cutting it?

Ensure Efficiency

PCI Crash Course

Learn a simple way to determine what systems are in scope for PCI in less than three minutes.

Watch Now

Get Accurate Data

Three reasons you should look at Jet Reports as your data reporting tool of choice during COVID-19.

Improve Reporting

Connect with us

Sikich | 1415 W. Diehl Road, Suite 400 | Naperville, IL 60563 US

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SIKICH BUSINESS BRIEFING: CORONAVIRUS CRISIS

How to navigate today''s ever-changing landscape.

The COVID-19 pandemic is evolving rapidly, which is why Sikich experts are committed to holding weekly briefings to address your questions as we all navigate this uncertain time.

We had an overwhelming response to our first presentation and will be releasing a follow-up presentation this Friday. Topics of discussion will include:

increased cybersecurity concerns
SBA and other loan developments
CARES Act updates and clarification
tax updates
human capital / DOL updates

To ensure smooth playback, we will be pre-recording this session and will have it available for viewing in our Coronavirus (COVID-19) Resource Center by 10:00 am CST on Friday, April 3. We invite you to submit any questions you would like our presenters to address by using this submission form.

For those of you that missed the March 27 Sikich Business Briefing, we invite you to watch the recording.

THIS WEEK''S PANEL OF EXPERTS:

KEVIN BONG

Director, Cybersecurity

TOM BAYER

Partner, Advisory

JIM BRANDENBURG

Partner, Tax

JENNY ANDREWS

Managing Director, HCM & Payroll

QUICK RECAP OF MAJOR UPDATES: WEEK OF MARCH 31, 2020

SCAMMERS TAP COVID-19 FEAR

And just like that, we were all reminded of how quickly everything can change. COVID-19, the coronavirus disease caused by the SARS-CoV-2 virus, has impacted the lives of almost everyone in the country and the world. However, some things never change, like the danger of phishing and clickbait attacks. Read more.

CONGRESS PASSES CARES ECONOMIC STIMULUS LEGISLATION FOR CORONAVIRUS

After several days of political drama, Congress passed on March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act (H.R. 748). This legislation is designed to provide economic assistance to those impacted by the current Coronavirus pandemic. Read more.

STATE TAX CORONAVIRUS UPDATE #2 - CONFORMITY TO JULY 15TH FEDERAL EXTENSION

With the official extension of the federal income tax return due date to July 15th the spotlight now turns to the states to see how they will react, as several initially indicated they would follow the federal government's lead. Read more.

LATEST DOL UPDATES & IMPORTANT REMINDERS

On March 24, 2020, the United States Department of Labor (D.O.L.) released their first "Questions and Answers" on COVID-19 and the Families First Coronavirus Relief Act to address preliminary compliance questions. This is the D.O.L.'s first official release for use by employers and employees to provide clarification on the provisions on the FFCRA. Read more.

NAVIGATING COVID-19: A ROADMAP FOR YOUR BUSINESS

COVID-19 has presented a new economic environment that most businesses are unprepared for. How does this new climate affect your business, and what are steps you can take to help be proactive during these uncertain times? Our team is helping clients navigate through these issues and are here to assist you during these challenges as well. Read more.

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

Click here to unsubscribe or to change your Subscription Preferences.

Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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Improving business performance by deploying best-fit technology solutions.

October 2020

RFID Card Security and Attacks

RFID cards are very simple devices, which make them reliable for everyday use. However, it also makes them an easy target for attackers looking to gain access to a facility. Here are the most common type of RFID card attacks and how to prevent them.

Uncover Gaps in Your System

Coronavirus Spurs Virtual Phone Systems

Going virtual has become a necessary conversation for nearly all businesses since the pandemic started. One area that businesses should consider transitioning virtually is their phone system. Has it crossed your mind?

How to Set Up My Phone System ?

Top 10 Salesforce Winter ''21 Release Highlights

The Salesforce Winter 2021 release is almost upon us, which automatically upgrades behind the scenes. Here are our favorite highlights.

Top Features ?

Now Is the Time to Advance a Digital Transformation Strategy

Now that the pandemic lockdown has mostly subsided, businesses are rushing to meet inventory demands. Can your digital transformation strategy accommodate?

Are You Ready for the Consumer Demand? ?

Due Diligence During the Pandemic

For private equity investors and potential buyers, it's safe to say thorough due diligence on the technology side of the house has never been more important.

Tech Due Diligence Checklist ?

Earlier Insights

Protecting Your Child's Cell Phone Use

Keep your kids safe and secure with the Microsoft Family Group settings.

Protect Your Family ?

Become an Intelligent Retail Business

Discover how retail companies can use business intelligence to leverage their data.

Data Transformed ?

Tips During a Pandemic

Now that support, sales and customer service teams are working remotely, how are businesses being affected?

Managing Uncertainty ?

Connect with us

Sikich | 1415 W. Diehl Road, Suite 400 | Naperville, IL 60563 US

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THE "PAYCHECK PROTECTION PROGRAM FLEXIBILITY ACT OF 2020"

SIGNED INTO LAW

Today, the President signed H.R.7010, "The Paycheck Protection Program Flexibility Act of 2020" ("PPPFA") into law. This legislation provides several key features borrowers should be aware of, including:

PPP loan forgiveness "covered period" is extended from eight weeks to 24 weeks
Extension of the date any loan payments begin until the date the lender receives notification of forgiveness from the SBA
Replacement of the "75/25 rule" introduced by the SBA with a "60/40 rule" for payroll costs and non-payroll costs
Defers the date to December 31, 2020 a borrower can have to restore Full-Time Equivalents and employee compensation at the same threshold
PPP loan forgiveness will not be reduced as a result of a decline in FTEs in some situations
PPP loan borrowers can receive additional payroll tax deferral

Read the full article for additional details on these key features of the bill.

LEARN MORE

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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Improving business performance by deploying best-fit technology solutions.

November 2020

Do I Really Have to Return to the Office?

The future of the workplace looks a little different now, thanks to COVID-19. Working remotely is a new norm that many employees value. Get a CEO''s point of view on a remote workforce.

The Future of The Workspace

First Time Hosting a Microsoft Teams Meeting?

Virtual meetings have become a weekly or daily occurrence as we work remotely. Don''t stress because here''s a how-to when it''s your turn hosting a meeting.

Master the Teams Meeting ?

NetSuite Invoice Groups - Consolidated Invoicing

The NetSuite 2020.2 update includes a new feature called "Invoice Groups," which allows users to combine invoices for a single customer.

How Do Invoice Groups Work? ?

Trends & Challenges

Digitally transforming your supply chain can revolutionize your manufacturing business. Here''s how...

Meeting Supply Chain Challenges ?

How to Set Up Revenue Recognition Feature

Looking to automate Revenue Recognition in Dynamics 365 for Finance and Operations? With minimal setup, deferred revenue can automatically be calculated, processed, and periodically posted with just a few clicks.

Quick Setup Guide ?

Earlier Insights

Financial Service Cloud Overview

Learn about the features and types of companies using Salesforce Financial Service Cloud

Watch Now ?

NAV to Dynamics 365 BC Migration

We''re playing a game of "Fact or Fiction" when it comes to Dynamics NAV to Dynamics 365 Business Central.

View Live Replay ?

The Untold Secret of Implementations

Keep your project momentum going, despite the disruption caused by the Coronavirus pandemic.

Help Navigate My Implementation Project ?

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SIKICH BUSINESS BRIEFING: CORONAVIRUS CRISIS

APRIL 24, 2020 - In this week''s round-up, our experts cover Phase 3.5 which the President signed into law today offering additional funding for business loans, hospitals and testing. Our experts also cover accounting methods for PPP, retirement and financial planning opportunities, and more.

SIKICH BUSINESS BRIEFINGS ON-DEMAND VIDEOS

APRIL 24, 2020:

PHASE 3.5 SIGNED INTO LAW

WATCH NOW

DOWNLOAD SLIDES

APRIL 20, 2020:

RETIREMENT AND FINANCIAL PLANNING

WATCH NOW

DOWNLOAD SLIDES

As we continuously monitor and navigate the current ever-changing situation, we encourage you to reach out with questions by contacting your Sikich team or submitting them via this submission form.

CORONAVIRUS

(COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

RECAP OF MAJOR UPDATES: WEEK OF APRIL 20, 2020

PHASE 3.5 OFFERS ADDITIONAL FUNDING FOR BUSINESS LOANS, HOSPITALS, AND TESTING

Congressional leaders and the Administration reached an agreement this week on the latest piece of legislation dealing with the Coronavirus (COVID-19). This is Congress' fourth bill in the last month and a half. The Paycheck Protection Program and Health Care Enhancement Act ("PPPHCEA") is being dubbed "Phase 3.5," as it is essentially an extension of the much larger recent CARES Act ("Phase 3"). This bill passed Congress on April 23, 2020 and was signed into law by the President on April 24, 2020. Read more.

ACCOUNTING METHODS FOR THE PAYCHECK PROTECTION PROGRAM LOAN

As legislation is passed at an increased speed to combat challenges presented by the COVID-19 crisis, accounting methods for the Paycheck Protection Program (PPP) loan and loan forgiveness may offer complexities and confusion to businesses and not-for-profit organizations attempting to address these changes. Read more.

CLARIFICATION ON SEC. 3548 FOR POSTSECONDARY INSTITUTIONS

Essentially the entire world is affected by the Coronavirus (COVID-19) pandemic, and many industries are being impacted in different ways. Look no further than postsecondary education - an industry truly feeling the brunt of this unprecedented time. Read more.

MANUFACTURERS FACE BUSINESS INTERRUPTIONS LIKE NO OTHER: A ROUNDTABLE RECAP

As industries across the U.S. are impacted by the COVID-19 crisis- from having to temporarily shut down operations or limit employee on-site work hours to implementing extensive safety protocols and being forced to furlough staff-we met virtually with leading manufacturers in the Midwest to discuss their challenges and best practices. Read more.

FAMILIES FIRST CORONAVIRUS RESPONSE ACT: OVERVIEW

On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was put into law with the goal of providing relief to U.S. employees in the form of paid leave. This included a provision for Emergency Paid Sick Leave, expanded coverage on Family and Medical Leave (FMLA), and payroll tax credits for new Paid Sick Leave and Paid FMLA. Read more.

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

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IRS ISSUES GUIDANCE FOR EXECUTIVE ORDER ON PAYROLL TAX DEFERRAL

On August 8, President Trump issued an Executive Order (EO) that defers the payroll taxes of employees making less than $4,000 in a bi-weekly payroll (applicable for the period September 1, 2020 through December 31, 2020). With September 1 approaching, the IRS released guidance on August 28 in the form of Notice 2020-65 to assist employers with this EO payroll tax deferral. The IRS answered several questions in this EO but was silent on others. Click below for a recap of key selected items included in Notice 2020-65 .

READ MORE

CORONAVIRUS (COVID-19) RESOURCE CENTER

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RESOURCE CENTER

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TUESDAY, OCTOBER 6th | 9:00 - 10:00 AM EST

NEW CONSIDERATIONS FOR BUSINESS SUCCESSION PLANNING

The business environment created by COVID-19 offers owners an opportunity to get ahead on their succession plans and prepare for the future. Even if your company is only focused on today''s details, there are still steps than can help you stay focused on the big picture and allow for the best outcome once the pandemic subsides.

Join us on October 6th as we discuss current business succession planning considerations from an accounting, legal, and human capital perspective:

Strategies for maximizing sale price and net proceeds
Identifying and cultivating a properly aligned leadership team
Evaluating the need for shareholder and other succession planning contracts
Keys to designing your Ownership Transfer and Succession Management (OTSM) plan

REGISTER NOW

OUR PRESENTERS

Pattie Wagner

Managing Director

Human Capital Management

Sikich LLP

pattie.wagner@sikich.com

Justin M. Alaburda

Co-Managing Partner & Member

The Law Firm of

Brennan Manna & Diamond

jmalaburda@bmdllc.com

Ray Lampner

Partner & Certified Exit

Planning Adviser

Sikich LLP

ray.lampner@sikich.com

HOSTED BY

BMD is an entrepreneurial, pro-business law firm with over 70 attorneys serving clients in a wide variety of industries. We strive to understand our clients' goals, and know how our work affects the future of their business. Our services cover virtually every prospect businesses face, from company startups to dispute resolution, from mergers and acquisitions to sophisticated transactions.

Learn more.

Sikich offers a formula of professional services uniquely crafted to address your business's challenges and opportunities. Our comprehensive skillsets, obtained over decades of experience as entrepreneurs, business owners and industry innovators, allow us to provide insights and transformative services to help strengthen every dimension of your business.

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Improving business performance by deploying best-fit technology solutions.

July 2020

Ahead of the Reopening Curve

As employees across the country return to work and leave their home offices behind, we look to our friends in the manufacturing industry to find some important answers to your questions. So, what has that looked like over the past few months? And what will it morph into as the world's other industries return to the workplace?

Read the RoundTable Recap

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How CROs Can Thrive Through Global Industry Change

Playing a critical role in the development of new pharmaceutical products and medical devices, clinical research organizations (CRO) are subject to the same industry trends that impact their clients. These are closely connected and reinforce each other. They include consolidation, globally coordinated and more stringent regulation, and patient-centered product development.

CRO technology solutions need to enable them to take the right steps to benefit from these developments and turn change to their advantage as they perform their research engagements and pursue the best patient and care outcomes.

Ensuring Success for CROs ?

Tips for Better Meetings

As remote meetings are becoming more the norm rather than a pandemic work-around, we have some Teams meeting best practices to help you hold the best meetings possible. Explore seven tips for having better meeting experiences with Microsoft Teams-including taking notes, blurring the background, muting, and recording meetings.

Do Virtual Meetings Like A Pro ?

PowerToys in Windows 10

The developers at Microsoft have been busy developing some new PowerToys for Windows 10! Now on version 0.18.1 we have some more toys to play with. Let''s take a deeper look into PowerToys Run, a toy that may replace your traditional Run window.

Catch Up on PowerToys ?

Thick as IP Thieves

When it comes to your intellectual property, naturally, IP security is of the utmost importance. Organizations want to believe that they can trust their employees with intellectual property (IP) security. But are you doing everything needed to keep your IP safe?

5 Ways to Secure Your IP ?

Earlier Insights

Unified Commerce Solution

Is your retail business still juggling multiple business systems for sales, inventory, back office, etc.? A unified commerce system can simplify everything.

Transform My Business

Create Workday Efficiency

If your inside sales reps are constantly switching between various systems throughout the workday, Salesforce High Velocity Sales will save the day.

Learn More

Passwordless authentication?

By now, you''ve heard of multi-factor or two-factor authentication, but how about passwordless authentication? It''s new, and it''s something to look into.

Improve My Security

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On July 6, the SBA released the identities of the borrowers who took out a Paycheck Protection Program (PPP) loan. Information including business name and address, loan amount, jobs retained and more is now public record. What does this mean for businesses that received a PPP loan? Even if an organization was justified in its loan applications and has nothing to hide, it could still face probing questions from local reporters who want to get to the bottom of where this taxpayer money went. Read below to learn more about Monday's release and how to address its impact on your company from a public relations standpoint.

SBA RELEASES IDENTITIES OF PPP LOAN BORROWERS

On July 6, 2020, the SBA released identifying information of the borrowers who took out a Paycheck Protection Program (PPP) loan. There was much uncertainty whether the names of the borrowers would be made public, and Congress and the Administration went back and forth on this matter. Nonetheless, an agreement was reached several weeks ago to release this information. Read more.

DON'T FEAR THE PPP UNVEILING

On July 6, 2020, the SBA released identifying information of the borrowers who took out a Paycheck Protection Program (PPP) loan. Some business owners probably read the news with trepidation. Suddenly, an economic lifeline could become a public relations problem. These business owners are correct that this has now morphed into a communications issue. However, with the right preparation, business owners can turn even the toughest questions from reporters into positive branding opportunities for their businesses. Read more for key elements of a successful approach.

UPDATES TO THE ACCOUNTING METHODS FOR THE PAYCHECK PROTECTION PROGRAM LOAN

As the U.S. Small Business Administration (SBA) continues to issue interim final rulings with clarifications and illustrations regarding the various aspects of the Paycheck Protection Program (PPP), the accounting methods for the PPP loan and loan forgiveness may offer complexities and confusion to business entities and not-for-profit organizations attempting to address these changes. Companies can greatly benefit from the financial offerings that Congress continuously works on, and as your accounting professionals, we are here to help you understand these programs. Read more.

PLAN SPONSORS AND FIDUCIARIES CONSIDERATIONS DURING TIMES OF UNCERTAINTY

Fiduciaries of a plan have a great deal of responsibility when it comes to oversight and operation of a qualified employee benefit plan. Consequences of a failure to comply with the requirements can range from fines to imprisonment, depending upon the severity of the breach. The current pandemic can make it challenging to ensure your plan is still operating as required. Read more for a checklist to help plan sponsors and other fiduciaries stay on track.

NEW EMPLOYEE ONBOARDING AND INTEGRATION DURING COVID-19: PART 3

As organizations continue to navigate the "new normal," COVID-19 will have both temporary and enduring effects on the workplace. With many organizations still maintaining a fully or partially remote workforce, one of the large challenges they continue to face is how to effectively hire and onboard new employees virtually. Read more.

For more information on other talent acquisition strategies during COVID-19, please read Part 1 and Part 2 of this series.

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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RECAP OF MAJOR UPDATES: MAY 1, 2020

This week's business briefing recap includes thought leadership from our experts featuring topics such as borrowers returning PPP loans if unable to show loan necessity, Section 139, Disaster Relief Payment, as well as internal controls for remote work environments, Phase 3.5 and accounting methods for PPP loans.

Read on for in-depth explanations on how your business can continue to navigate the current climate and face challenges head on.

SBA ALLOWS BORROWERS TO RETURN PPP LOANS IF UNABLE TO SHOW LOAN NECESSITY

PPP loans drew much attention and interest from many businesses. The Treasury Department and SBA provided guidance as quickly as possible to assist businesses and lenders in applying for these loans, although not every item was addressed. There were several certifications required by a borrower when he or she applied for a PPP loan. One of the certifications a borrower made in their application was that the "current economic uncertainty makes the loan request necessary." Read more.

SECTION 139 OFFERS OPPORTUNITIES FOR BUSINESSES AND EMPLOYEES DURING A DISASTER

On March 13, 2020, the federal government declared the Coronavirus crisis a disaster, under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. An employer can utilize Section 139, Disaster Relief Payment, of the tax law allowing employers to provide monetary assistance to its employees after a disaster. Read more.

FEDERAL FINANCIAL ASSISTANCE IMPACTED BY COVID-19

On March 9, 2020, the Office of Management and Budget (OMB) issued M-20-11, "Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19)," to provide agencies with additional flexibilities for grants that support their response to COVID-19. Read more.

ADAPT INTERNAL CONTROLS FOR THE CHANGING ENVIRONMENT

We live in a rapidly changing world with new and unforeseen hurdles. As businesses and local governments try to figure out the changing landscape, one challenge that will remain and become even more troublesome is the risk of fraud. Fraudsters never let a good crisis go to waste and with many of our processes, interactions, and oversight models changing, new and perhaps unforeseen opportunities for fraud arise daily. Read more.

CORONAVIRUS

(COVID-19) RESOURCE CENTER

RESOURCE CENTER

SIKICH BUSINESS BRIEFINGS ON-DEMAND VIDEOS

APRIL 23, 2020:

Watch our recent Business Briefing on Effective Leadership During Challenging Times.

WATCH NOW

DOWNLOAD SLIDES

PHASE 3.5 OFFERS ADDITIONAL FUNDING FOR BUSINESS LOANS, HOSPITALS, AND TESTING

Congressional leaders and the Administration reached an agreement on the latest piece of legislation dealing with the Coronavirus (COVID-19). This is Congress' fourth bill in the last month and a half. The Paycheck Protection Program and Health Care Enhancement Act ("PPPHCEA") is being dubbed "Phase 3.5," as it is essentially an extension of the much larger recent CARES Act ("Phase 3"). This bill passed Congress on April 23, 2020 and was signed into law by the President on April 24, 2020. Read more.

ACCOUNTING METHODS FOR THE PAYCHECK PROTECTION PROGRAM LOAN

As legislation is passed at an increased speed to combat challenges presented by the COVID-19 crisis, accounting methods for the Paycheck Protection Program (PPP) loan and loan forgiveness may offer complexities and confusion to businesses and not-for-profit organizations attempting to address these changes. Read more.

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

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All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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PPP LOAN UPDATE:

SBA PROVIDES $2 MILLION SAFE HARBOR ON PPP LOANS

On May 13, 2020, the Small Business Administration (SBA) and Treasury Department issued the latest FAQ on the Paycheck Protection Program (PPP) loan from the recent CARES Act. The SBA explained in this FAQ Question #46 how they plan to review a borrower's required good-faith certification concerning the necessity of their PPP loan application. The SBA had earlier noted that if borrowers did not believe they could substantiate the economic uncertainty, that they could repay their PPP loan by May 14, 2020 (this repayment was originally scheduled for May 7, 2020, but the SBA postponed this by one week). The SBA in today's FAQ guidance, however, offered a safe harbor for PPP loans of less than $2 million, and further explained the review process for loans over $2 million. This guidance clears up much confusion that borrowers wrestled with in recent weeks. Read more.

RECAP OF MAJOR UPDATES

FEDERAL FINANCIAL ASSISTANCE IMPACTED BY COVID-19

ARTICLE UPDATED ON MAY 11, 2020: On March 9, 2020, the Office of Management and Budget (OMB) issued M-20-11, "Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19)," to provide agencies with additional flexibilities for grants that support their response to COVID-19. Read more.

PROPOSED REGULATIONS UNDER SECTION 512(A)(6) FOR NOT-FOR-PROFIT ORGANIZATIONS

Amidst the large amount of guidance pending for the CARES Act, the IRS has released the long-awaited Proposed Regulations under Section 512(a)(6), related to the separate reporting for each unrelated trade or business of tax-exempt organizations. This section was established in the 2017 Tax Cuts and Jobs Act. Previously, the IRS had issued Notice 2018-67 as interim guidance. Read more.

SIKICH BUSINESS BRIEFINGS: ON-DEMAND VIDEOS

CONSIDERATIONS BEFORE RECALLING YOUR STAFF

WATCH NOW

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PPP AND LOAN PROGRAM

UPDATES

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PREPARING YOUR TEAMS

TO RETURN TO WORK

WATCH NOW

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CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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Virtual Event: Your Blueprint for Profitability Banner

Only 20 percent of active construction companies can reliably assess their actual margins, according to some estimates. Many of the construction software tools used today don't always make things easier. Add countless spreadsheets, unreliable connectivity across remote projects, and achieving visibility becomes a nightmare.

Join us on October 14^th at 1pm CT for Your Blueprint for Profitability, where industry experts Laura Culp and Tim Tucker weigh in on the state of the industry and how construction companies and related industries can improve profitability, productivity and visibility, all while mitigating risk with HEADSTART for Construction.

Learn how HEADSTART for Construction helps companies like yours:

Better manage costs and operating margins
Limit liability, improve compliance and reduce human error
Streamline multiple, disjointed applications to improve organizational transparency and offer actionable insights
Improve productivity through mobile, field service applications to automate processes and enhance collaboration

Whether you're pursuing a complete business transformation or are looking for greater process efficiencies and cost control, you won't want to miss this

30-minute virtual event!

Your Blueprint for Profitability

DATE

October 14^th

TIME

1pm CT

RSVP

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PRESIDENT ISSUES EXECUTIVE ORDERS

Congress and the Administration have enacted significant legislation this year to address the challenges associated with the Coronavirus pandemic. They have passed bills totaling nearly $3 trillion in relief, with the CARES Act being the largest. Congressional leaders and the Administration felt there were outstanding economic needs that warranted another bill-dubbed by many, "CARES 2.0.," at which they have been negotiating for several weeks. However, late last week, they suspended talks. The House is seeking legislation amounting to over $3 trillion from the HEROES bill, while the Senate is looking at approximately $1 trillion in the HEALS bill. The amounts and provisions differ significantly in these bills, but Congressional leaders and the Administration still hope an agreement will be reached this month.

After negotiators failed to reach an agreement on CARES 2.0 legislation, the President issued four Executive Orders. Learn how they impact your business by clicking here.

SINGLE AUDIT - RECENT DEVELOPMENTS FROM THE OFFICE OF MANAGEMENT AND BUDGET

The Office of Management and Budget (OMB) recently issued a memorandum repealing previously issued guidance on the extension of time to file with the Federal Audit Clearinghouse. In March 2020, OMB issued M-20-17, which provided a six-month extension on reporting packages to all entities that had not yet filed their singles audits with the Federal Audit Clearinghouse, as well as entities with fiscal year ends through June 30, 2020. Under M-20-26, there is no longer a blanket six-month extension. Read more.

A WORLD WITHOUT OFFICES?

The coronavirus pandemic has caused significant hardship and has forced us to look at much of life through a new lens. But it's not all negative. There have been many positives that have come from this experience - and we shouldn't ignore them. There's no question the closure of schools and daycare facilities has created significant challenges for working parents. But many employees are now able to focus on their health and fitness more than they ever have before. Others appreciate how they have been able to recycle their commute time to pursue new hobbies. Read more.

COVID-19 AND THE PROPERTY TAX APPEAL PROCESS WEBINAR

The property tax system is hundreds of years old, full of local quirks and mired in bureaucracy, customs, politics, personality, case law and legislation. Once a small expense for contractors and real estate developers, property tax has grown rapidly and, in response to COVID-19, is expected to escalate faster than profits can support it. Fortunately, the economic ramifications of COVID-19 have opened new doors to reduce this burden. This webinar will acquaint you on how the system works, the appeal calendar and the tried-and-true bases for reducing property taxes.

VIEW WEBINAR

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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Tuesday, August 11, 2020

1:00 - 2:00 p.m. EST

CONSTRUCTION AND REAL ESTATE WEBINAR

COVID-19 and the Property Tax Appeal Process: No Better Time to Manage This Expense

The property tax system is hundreds of years old, full of local quirks and mired in bureaucracy, customs, politics, case law and legislation. Once a small expense for commercial real estate, it has grown rapidly and is expected to escalate faster than profits to support to it. COVID-19 and its many societal and economic ramifications has opened new doors to reduce this burden. This one-hour seminar will acquaint you with a primer on how the system works, the appeal calendar and the tried and true bases for reducing property taxes. It is not about politics - it is about applying the principles of the system for a legal and inexpensive appeal.

This webinar is eligible for 1 hour of CPE credit.

REGISTER

OUR PRESENTER

MARY O''CONNOR, ASA, CRE, CMI, CFE

PARTNER

FORENSIC AND VALUATION SERVICES

MARY.OCONNOR@SIKICH.COM

PH: 312.648.6652

Mary O'Connor, ASA, CRE, CMI, CFE is a Partner in the Forensic and Valuation Services division of Sikich LLP. She has earned a national reputation in property tax valuation and appeal related to the non-realty and intangible portion of complex property types such as hotels, senior living/skilled nursing centers, hospitals, duty-free retail, office buildings and agricultural special uses. She has presented on this topic on numerous occasions to the Institute of Professionals in Taxation (IPT), the American Property Tax Counsel (APTC) and the Annual Wichita Ad Valorem conference and has testified in successful taxpayer cases across the United States resulting in millions of dollars in tax savings.

Sikich LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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As businesses slowly start to open up and focus on recovery from the impact of the COVID-19 crisis, and employers look to ways to support their employees and clients, we're dedicated to bringing you the latest updates and opportunities to assist your organization.

This business alert covers recently released guidance on the "Main Street Lending Program" that offers opportunities for many businesses still looking for financial relief as a result of the pandemic. There are also several updates on PPP loans, as well as new ways for companies to enhance their talent acquisition strategies to attract top talent despite an ongoing crisis.

Click below to learn more about Main Street Lending, updates to the PPP Loan Forgiveness Application forms, the agreement on disclosure of PPP borrowers, tax relief for retirement plan distributions and more.

FEDERAL RESERVE RELEASES GUIDANCE ON "MAIN STREET LENDING PROGRAM"

With all the buzz around the COVID-19 pandemic hardship loan programs, the Main Street Lending Program (MSLP) is probably one that you're least familiar with. Recent guidance for the MSLP, however, will provide opportunities for many businesses and organizations still looking for financial relief as a result of the pandemic. Read more.

SBA RELEASES UPDATED PPP LOAN FORGIVENESS APPLICATION FORMS

On June 17, 2020, the SBA issued updates to its PPP Loan Forgiveness Application Forms (Form 3508) based on changes made by the PPPFA.

Read more.

TREASURY AND SBA ANNOUNCE AGREEMENT ON PROVIDING IDENTITIES OF PPP BORROWERS

An issue orbiting the Paycheck Protection Program ("PPP") loan this year is the public disclosures of the PPP borrowers. On Friday, June 19, 2020, the Treasury, SBA, and key congressional leaders reached a compromise agreement on PPP borrower disclosure.

Read more.

A BUSINESS GUIDE TO COVID-19

We believe challenging times carry valuable lessons, even if they aren't apparent in the moment.

Even in this devastating pandemic, when business as usual is being challenged in ways we never imagined, companies can learn what they need to not only survive, but to thrive.

We created this guide to help you get there and hope it helps you realize what's possible for your workers, customers and bottom line.

CLICK TO DOWNLOAD

IRS OFFERS TAX RELIEF TO INDIVIDUALS IMPACTED BY COVID-19 FOR RETIREMENT PLAN DISTRIBUTIONS AND LOANS

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, qualified individuals can receive favorable tax treatment for distributions from eligible retirement plans, as long as the distributions were taken as a relief measure relating to the impact of the COVID-19 pandemic. Read more.

TALENT ACQUISITION STRATEGIES DURING COVID-19 AND BEYOND: PART 1

Following the record-high national unemployment rate of 14.7 percent in April 2020, many organizations continue to face challenges involving business slowdown and significant transition. There has never been a more important time to take a closer look at your organization's recruiting efforts. Read more.

TALENT ACQUISITION STRATEGIES DURING COVID-19 AND BEYOND: PART 2

Once an organization has calibrated their digital recruiting practices, there are several ways for companies to further enhance their talent acquisition strategies in order to attract top talent. One of the most effective ways for organizations to do this is to strengthen their employer brand. Read more.

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

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SIKICH BUSINESS BRIEFING: CORONAVIRUS CRISIS

How to navigate today''s ever-changing landscape.

Our experts have been closely monitoring the current situation and we''ve been working with our clients and communities on implementing solutions to address their unique challenges.

The situation is evolving rapidly which is why we are committed to holding weekly briefings to address timely and relevant topics in addition to any questions you bring to the table as you navigate through this uncertain time.

Our first Business Briefing will be held Friday, March 27 from 10:00 am - 11:00 am CST and will cover:

the pending stimulus package
tax updates
human capital updates
SBA and other loan developments

Through the below registration link, you''ll have the opportunity to submit questions, which we''ll do our best to address during the briefing.

REGISTER

CORONAVIRUS (COVID-19) RESOURCE CENTER

While there is no playbook for what the nation is going through right now, Sikich experts are here to provide you with the guidance and resources you need.

RESOURCE CENTER

THIS WEEK''S PANEL OF EXPERTS:

JIM BRANDENBURG

Partner, Tax

JENNY ANDREWS

Managing Director, HCM & Payroll

RAY LAMPNER

Partner, Advisory

TOM BAYER

Partner, Advisory

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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SIKICH BUSINESS BRIEFING: CORONAVIRUS CRISIS

The latest webinar in our weekly Business Briefing on the Coronavirus crisis is now available for viewing on-demand. This week's briefing covers topics such as cybersecurity, SBA and other loan developments, CARES Act updates and clarification, tax updates and human capital/DOL updates.

We also invite you to view the addendum to this briefing as last night the SBA issued its Interim Final Rule on the Paycheck Protection Program. You can also read about the updated regulations in our latest insight.

View the presentation materials here.

If you have any questions or if there is anything we can do to help you navigate these challenging times, please reach out to your Sikich team, any of our subject matter experts, or submit your questions via this submission form.

Stay tuned for future communications as we navigate this rapidly evolving situation.

CORONAVIRUS

(COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

QUICK RECAP OF MAJOR UPDATES: WEEK OF MARCH 30, 2020

SBA ISSUES INTERIM FINAL RULE FOR PAYCHECK PROTECTION LOAN PROGRAM

On April 2, 2020, the Small Business Administration (SBA) issued its Interim Final Rule on the Paycheck Protection Loan Program (PPP) from the recent CARES legislation. This guidance lays out the SBA formal guidance for implementing the PPP loans. Read more.

STRATEGIES TO MITIGATE THE FINANCIAL EFFECTS OF

COVID-19

It's important to keep your financial priorities top of mind during an unexpected hardship, such as the COVID-19 pandemic. Assumptions, like needing to sell your investments because of poor market conditions, or halt contributions to your 401(k), can hurt your financial stability in the long-term. Read more.

TOP THREE REASONS TO USE JET REPORTS FOR ACCURATE DATA REPORTING DURING THE CORONAVIRUS QUARANTINE

These days, finance teams are under tremendous pressure to adapt to a quickly shifting economic environment. We know that access to the most recent data is critical to answering the new questions facing businesses and management daily. Many companies rely upon numerous outlying systems to consolidate financial and operational data. Working remotely during these trying COVID-19 times may prevent teams from accessing all relevant data to make quick decisions. That is where Jet Reports from Insight Software comes in. Jet Reports data reporting tools empower teams to overcome such challenges. Read more.

CARES ACT IMPACT ON RETIREMENT PLAN SPONSORS AND PARTICIPANTS

Amidst the global health epidemic caused by the novel coronavirus ('COVID-19') and the resulting economic decline in the United States, President Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law on March 27, 2020 (enactment date). Included in the CARES Act, among many other relief measures, are retirement plan provisions intended to allow participants easier access to their account balances. Read more.

BUSINESS INTERRUPTION INSURANCE: FUNDING LOST PROFITS FROM COVID-19

Many businesses invest in insurance coverage for lost profits and extra expenses arising from a disaster. Known as business interruption insurance, the coverage is usually attached to a larger property and casualty policy or comprehensive commercial package. Read more.

SCAMMERS TAP COVID-19 FEAR

And just like that, we were all reminded of how quickly everything can change. COVID-19, the coronavirus disease caused by the SARS-CoV-2 virus, has impacted the lives of almost everyone in the country and the world. However, some things never change, like the danger of phishing and clickbait attacks. Read more.

ABOUT SIKICH

Sikich LLP is a global company specializing in technology enabled professional services. With more than 1,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and ranks as one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals.

* Securities offered through Sikich Corporate Finance LLC, member FINRA/ SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor.

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Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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PAYCHECK PROTECTION PROGRAM (PPP)

SBA RELEASES FORGIVENESS APPLICATION

One of the key features of the "Paycheck Protection Program" (PPP) loans was loan forgiveness, the opportunity for borrowers to have their loans forgiven if they spend the loan borrowing on certain items during an eight-week period. Congress dictated that the PPP loan must be spent on the following items to obtain loan forgiveness:

Payroll;
Interest on business loans;
Lease payments; and
Utilities

READ FULL ARTICLE

Listen in as our experts break down the PPP loan forgiveness guidance in a recently recorded Sikich Business Briefing.

WATCH NOW

DOWNLOAD SLIDES

RECAP OF MAJOR UPDATES

NAVIGATING COVID-19 FOR LIQUIDITY OPPORTUNITIES: CONSTRUCTION AND REAL ESTATE INDUSTRY

Reports from the Small Business Administration (SBA) indicate that the construction industry received the most significant share of the Paycheck Protection Program (PPP) loans. Assuming most of these loans are eligible for forgiveness, borrowers can utilize the short-term liquidity available through their PPP loans. Recent legislation, the President's declaration of a federal disaster and existing tax law provide opportunities for construction and real estate companies impacted by the pandemic. Read more.

ZOOM SECURITY AND PREVENTING ZOOMBOMBING

With the rapid increase in the use of video conferencing associated with social distancing to cope with COVID-19, the video conferencing application Zoom has seen rapid growth in the last month.

Although there are consumer versions of Zoom available, the main market was originally corporate clients, where Zoom would be further configured by the corporate IT staff. The mass adoption of Zoom for consumers has resulted in the discovery of some important security flaws in the product, particularly if not further configured, as most consumers will not be. Read more.

NOW WHAT? A COMMUNICATIONS PLAYBOOK FOR COVID-19 AND BEYOND

In disorienting change and economic turmoil, many people feel as if they've been tossed about by a capricious and often violent storm. While operational and budget decisions rightly take precedence in a crisis like this - you have to keep the lights on - companies may further expose themselves to the chaos if they don't properly prioritize their communications strategies. Read more.

CORONAVIRUS (COVID-19) RESOURCE CENTER

We are committed to bringing you insights and information as quickly as we can and have developed an extensive Resource Center. This resource hub contains articles, alerts and communications and will house upcoming and recorded webinars.

RESOURCE CENTER

Click here to unsubscribe or to change your Subscription Preferences.

Copyright 2020 Sikich 1415 W. Diehl Rd., Suite 400, Naperville, IL 60563
All rights reserved. All other trademarks are the property of their respective owners. Email created by Sikich. CONFIDENTIALITY NOTE: This e-mail is intended only for the use of the individual or entity to which it is addressed and may contain information that is privileged, confidential and exempt from disclosure under applicable law. If the reader of this e-mail message is not the intended recipient, or the employee or agent responsible for delivery of the message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is prohibited. If you have received this e-mail in error, please notify us immediately by telephone at 630.566.8400 or the relative office number and also indicate the sender's name. Thank you.

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Improving business performance by deploying best-fit technology solutions.

MAY 2020

Adding Short-Staffed Planning to Your Disaster Plan

Disaster recovery testing scenarios too often consist of a random technical outage that focuses on the IT department, some managers/developers and no one else. The recent COVID-19 pandemic events may encourage organizations to shift their tests to the human aspects of disaster recovery.

Disaster Plan Considerations

Tablet with Cloud showing Services Image

Adding MSSP is a Natural Progression for Premier MSPs

Security needs to be a major part of an MSP's offer, but beware of those that have recently added some tools and put together quick, ad-hoc offers. Look for a managed security service provider with a proven track record for protecting the data, cloud deployments, and network of companies like yours.

Microsoft's Advanced Threat Protection for Exchange Online is a great example of a mature standard that offers great security value. As soon as ATP was released, we knew it made sense based upon solving for zero-day threats in email links and attachments and the upfront and ongoing cost.

Learn More

Nice Backups. It Would Be a Shame If They Got Encrypted...

Ransomware tools don't discriminate. If they see a backup repository and have the capability to encrypt it, they will. Let's talk through some steps you can take to prevent cyber extortionists from infecting your backups.

Protect Backups

Why Do A Business Process Alignment Project?

Are you sure Dynamics GP still aligns with how your company does business? We created the Business Process Alignment (BPA) project to help organizations find out. The BPA is used to refresh a client's system and internal processes related to their Dynamics GP system.

Improve Your GP System

New NetSuite Bank Feeds Feature Automates Statement Imports

Among several impressive updates in the 2020.1 Release, NetSuite launched the Bank Feeds SuiteApp. The new Bank Feeds SuiteApp for NetSuite cuts out the need to manually import anything from your financial institutions again. Plus, it's free to install and set up is a breeze!

Step-By-Step Instructions

Earlier Insights

Microsoft''s RPA

UI Flows are Microsoft's take on Robotic Process Automation (RPA). Here''s how to create Desktop and Web-based UI Flows.

Full Instructions

Ensure MFA Use

Learn how to use Powershell to export Multi-Factor Authentication (MFA) status for each user.

Read More

Zoom Data Breach

With many companies turning to Zoom for online remote work, it has made the platform vulnerable, resulting in a data breach.

Stay Secure on Zoom

Connect with us

Sikich | 1415 W. Diehl Road, Suite 400 | Naperville, IL 60563 US

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