On Target Topics Blog

PPP Forgiveness Math Deep Dive

We still do not have the final SBA rules on how the forgiveness provisions will work, but we do have the statue to give us some level of guidance.  Here is a detailed look at the forgiveness math, as best we know it.  (The key terms are defined [...]

May 8th, 2020|

PPP Loan Forgiveness Q&As

Many businesses that applied for PPP loans during the first wave of funding have either received those funds or will be receiving them shortly.  If that scenario sounds familiar, now is the time to make sure you understand how PPP loan forgiveness works.  While we are still waiting [...]

May 8th, 2020|

MN Sales and Use Tax Grace Period Extended for Closed Businesses

As the state continues to respond to COVID-19, the Minnesota Department of Revenue is extending the Sales and Use Tax grace period on Sales and Use Tax payments for businesses identified in Executive Order 20-04. The department will not assess penalties or interest as follows: Identified businesses with [...]

April 10th, 2020|

DHA Office Closure Extended

In compliance with Minnesota's extended Stay-At-Home order, we have extended our temporary office closure through May 1st, 2020.  We look forward to re-opening the office to clients and staff on Monday, May 4th.  During the office closure our entire staff is continuing to work remotely and we remain [...]

April 10th, 2020|

Families First Coronavirus Response Act – Legislative Update

The Families First Coronavirus Response Act (FFCRA) was signed into law on March 18th 2020, and went into effect on Wednesday, April 1st. The FFCRA requires covered employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. [...]

April 2nd, 2020|

Paycheck Protection Program: Applications Open April 3 for Small Businesses, Sole Proprietorships

The U.S. Treasury Department released information on the assistance available for small businesses through the recently enacted CARES Act. Small businesses and sole proprietorships affected by the COVID-19 pandemic can apply for loans under the Paycheck Protection Program starting April 3. Independent contractors and self-employed individuals can apply [...]

April 2nd, 2020|
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