Product Surround

Product Surround

There are two components of a product or service, the core product or service and the product or service surround. Most strategies focus on the core product or service yet it only generates 20% of the benefit to the customer whereas normally the product surround contributes the remaining 80%. In this article we will show … Continued

COVID-19 Relief Executive Orders

On Saturday, August 8, 2020, President Trump signed four Executive Orders to provide additional economic relief during the ongoing pandemic. The Executive Orders addressed unemployment, payroll taxes, student loans, and evictions. On July 31, 2020, the federally enhanced unemployment payments ended. The Executive Order gives those on unemployment an additional $400 per week, with $300 … Continued

Louisiana Main Street Recovery Grant Program

The Louisiana Main Street Recovery Program will begin on July 28, 2020, providing award grants to assist Louisiana small businesses in their recovery from the economic impacts of COVID-19. The program is administered through the Louisiana Department of Treasury. The funds for the Program were part of the CARES Act funding the State of Louisiana … Continued

IRS guidance provides RMD rollover relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans. Specifically, the CARES Act waives the 10% early distribution penalty for CRDs … Continued

Paycheck Protection Program Flexibility Act of 2020

Late Wednesday, June 3, 2020, the Senate passed the Paycheck Protection Program Flexibility Act of 2020 (the “Act”) that enhances several of the provisions of the Payroll Protection Program (PPP) enacted as part of the CARES Act. The Act has now been sent to the President for signature. In the CARES Act, PPP borrowers were … Continued

SBA PPP Loan Forgiveness IFR

On Friday, May 22, the SBA followed up the release of Form 3508, the Loan Forgiveness Application for Paycheck Protection Program (PPP) loans with an Interim Final Rule (IFR), finally clarifying some of the provisions related to forgiveness of PPP loans. There are several items that borrowers should be aware of that came from the … Continued

May 2020 Newsletter

  The General Ledger, Edition 2, May 26, 2020 A Message From Our Managing Partner Like all of you, we at HTB are monitoring the developments surrounding COVID-19 and evaluating how we can continue to best serve and protect our employees, communities and clients. Everyone at HTB is committed to providing our clients with uninterrupted, high-quality … Continued

PPP Forgiveness Application Released

On Friday, May 15, the SBA released Form 3508, the Loan Forgiveness Application for the Paycheck Protection Program (PPP) loans. Recipients of PPP loans will complete the application and submit to the lender from whom they received their PPP loan. The application consists of a three-part calculation to determine the amount eligible for forgiveness. First, … Continued

SBA extends the PPP repayment deadline for self-certification

The Small Business Administration (SBA) has extended the repayment deadline for Payroll Protection Program (PPP) borrowers that wish to take advantage of the “good faith” self-certification of eligibility option. The deadline is now automatically extended from May 7, 2020, to May 14, 2020. Companies that repay their loans by that date preempt the possibility of … Continued

Survive, Pivot – Adapt , Thrive

To effectively navigate this difficult crisis, business leaders need to adapt rapidly to current market conditions.  Adapting could include exploring innovations, pivoting strategies, adapting delivery or business models and developing new products or services for an evolved marketplace.  Being in an aggressive position as the market slowly returns in some areas and rapidly returns in … Continued