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Blog Month: July 2021

Understanding Restricted Funds

For those that are familiar with the for-profit accounting world, restricted funds may be a foreign concept. A nonprofit was given a donation – how can it be that you

SBA to Further Streamline PPP Loan Forgiveness Process for Loans of $150,000 or Less

Great news today for PPP borrowers that received a loan of $150,000 or less!  If you haven’t yet applied for forgiveness, the SBA will be outlining today, a new streamlined

Employee Stock Ownership Plans (ESOPs) – Understand the Basics

ESOP’s have gained popularity as a transition plan for business owners. Join us for our next webinar as we explore the basics of what an ESOP is and what it

Wisconsin Tomorrow Lodging Grant Program – Must Act by July 28, 2021

A new Wisconsin grant program has been released targeting lodging providers hit hard by the COVID-19 pandemic.  Grants will be awarded beginning in August based on a percentage of decreased

The IRS is Hiring…What does this Mean?

The word on the street is that the IRS is in the process of adding thousands of new employees, gearing up for a massive tax enforcement push if Congress is

SBA Eliminates Loan Necessity Questionnaire for Loans Over $2 Million

The Small Business Administration (SBA), on Monday, officially announced that they will no longer require the use of Forms 3509 and 3510, Loan Necessity Questionnaire.  This form was released to

Should I opt out of the Advance Child Tax Credit?

What is the advance child tax credit? Who is eligible for payments? Who should consider opting out? Katy Mering, CPA, Partner at Wegner CPAs answers these and other common questions

3 Ways to Save Taxes While Saving for College

If you have a child or children that are college-bound, you may be stressing over the future funding of tuition and other higher education costs. You will want to take

Statement of Functional Expenses

What is the Statement of Functional Expenses? The statement of functional expenses (SOFE) is a financial report used by not-for-profit organizations to present the functional classification of expenses in addition

Paying Medicare premiums? Don’t miss a tax deduction.

Are you age 65 and older and have basic Medicare insurance? If you don’t have the level of coverage that you need, you may end up having to pay additional