Rebuild VA Program Receives Additional Funding

…Relief, and Economic Security (CARES) Act. Additional information regarding the program was provided in our November 2020 blog, Rebuild VA Small Business Grant Fund Program Update. In a press release…

Virginia Tax Conformity is Now Law

…Loan Forgiveness and Business Expense Deductions While Virginia conforms to the federal tax exemption for Taxable Year 2020 for Paycheck Protection Program (“PPP”) loan forgiveness and certain funding received under…

Overview of CAA 2021 Tax Provisions for Businesses

…for qualifying property and the deferral of capital gain for dispositions of qualifying assets, and Paycheck Protection Program Loan Forgiveness Clarifications of tax consequences of PPP loan forgiveness COVIDTRA clarifies…

Goodbye CMMC 1.0, Hello CMMC 2.0

program across the government. Though not an official announcement, it does portend the expansion of the program outside of DoD. Summary of CMMC Program Changes CMMC 1.0CMMC 2.0 Maturity Levels…

Virginia Income Tax Conformity Update

…COVID-19 business assistance programs The law provides the following regarding COVID-19 business assistance programs: Retroactively allows the up to $100,000 Virginia-specific deduction for Paycheck Protection Program (“PPP”) loan forgiveness recipients…