Posts

Three Important Things to Know About the Second Round of Paycheck Protection Program Loan Funding
January 05, 2021

At the end of 2020, the Consolidated Appropriations Act, 2021 was passed to provide additional COVID-19 financial relief to the small business and nonprofit community, including a second round of Paycheck Protection Program (PPP) funding (PPP…

UPDATE: REBUILD! VA GRANT FUND EXPANDED
November 16, 2020

The Rebuild VA Grant Fund is a program to help small businesses and nonprofits whose normal operations were disrupted by COVID-19, including restaurants, brick and mortar retail, exercise and fitness facilities, personal care and personal grooming…

Five Tips for Small Business Angel Investing
November 09, 2020

Putting all of your eggs in one basket is rarely a good idea. This is especially true when deciding where to invest your money. Over the past fifty years, an increasing number of investors have ventured into what are referred to as “angel…

SBA Announces Simpler PPP Forgiveness Process for Loans of $50,000 or Less
October 12, 2020

The U.S. Small Business Administration (SBA) released last week a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide helpful relief…

15 Steps to Winding Down a Virginia Small Business
October 09, 2020

The process of closing a Virginia small business can range from very simple and straightforward to extremely complex, expensive, and time consuming, depending upon the surrounding facts and circumstances of the business. Just reaching the decision…

New Central Virginia Regional Sales and Use Tax Now in Effect
October 07, 2020

The new 0.7% regional retail sales and use tax went into effect last week on October 1, 2020. This new tax applies throughout Central Virginia (including the city of Richmond, Charles City, Chesterfield, Goochland, Hanover (including the town…

How to Correct Mistakes on a Filed IRS Form SS-4 (EIN Application)
October 05, 2020

The Problem You are trying to successfully navigate the many challenges of small business ownership and one day you discover, much to your dismay, that incorrect information was inadvertently reported on Form SS-4 to the IRS (or perhaps the…

A Few Thoughts on Small Business Contracts
September 11, 2020

Small business owners negotiate on a daily—if not hourly—basis concerning a wide variety of matters.  Most of these negotiations take place quickly and informally, but some business transactions and relationships are important enough to…