Small business owners and entrepreneurs must balance the grind of their work each day with the compliance requirements to run their businesses effectively and legally. One compliance attribute which our clients and others deal with each year is the filing of their annual report. In this article we tackle what an annual report is and provide resources for small business owners and entrepreneurs to complete their reports.
Monthly Archives: March 2022
4 posts
This article shares some things that small business owners should watch out for when applying for an SBA loan.
From April 2020 to December 2021 over $1.2 Trillion was delivered to small businesses in the form of the Payroll Production Program and Economic Injury Disaster Loans. While many small business owners benefitted from PPP and EIDL, many small business owners provided information to banks and the SBA which were inaccurate and in many cases, purposely fraudulent. This article reviews current oversight efforts and actions by the Department of Justice for those who submitted inaccurate or fraudulent information to get funded. We highlight several cases where small business owners committed fraud.
In the State of the Union Speech this past week, President Biden called for increased oversight into COVID-19 Relief fraud. This article provides some details of what the government is doing to find EIDL and PPP fraud. We include several easy steps that every business owner should take to be ready for if and when they are investigated or audited.