News Articles

17

June

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Employer Retention Credits

Valuable tax credits are available to employers to help mitigate the effects of the COVID-19 pandemic. But amid the chaos of the last few months, it may be hard to navigate the details of how to qualify for the credits. To help, the IRS has created a flowchart that explains the details of the Employer … Continued

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09

June

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ATA Named RAY Award Recipient

ATA was named first-place winner for the 2020 Risk Achievement of the Year (RAY) Award from Berkley Accident & Health for outstanding commitment to health risk management. The RAY Award represents a vested commitment to improving company health and wellness. ATA is committed to creating a space for employees to feel happy and productive.  In … Continued

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05

June

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PPP Flexibility Update

PPP Flexibility Update The PPP Flexibility Act recently passed the House and Senate and has been signed by the President.  This bill allows greater latitude for Paycheck Protection Program borrowers. This means PPP loan recipients are granted more time and greater flexibility to utilize their funds while remaining eligible for loan forgiveness. ‌Key Updates Current … Continued

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03

June

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Tennessee Business Relief Program Issues $200 Million in Coronavirus Relief Funds

The State of Tennessee is making $200 million available for small businesses through the Tennessee Business Relief Program. The relief funds are intended for businesses that suffered during the mandatory business closures in the midst of COVID-19 shutdowns.  More details are to come, but the relief program anticipates about 28,000 Tennessee small businesses to qualify, … Continued

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Fortunate enough to get a PPP loan? What you need to know about certain deductions that aren’t allowed.

The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an expense isn’t deductible if both: 1. The payment of the expense results in forgiveness of a loan made under the PPP. 2. The income associated with the forgiveness is excluded from … Continued

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