Insights

Pending Paycheck Protection Program Items

September 22, 2020

Suttle & Stalnaker, PLLC is committed to helping our clients manage the ever-emerging Paycheck Protection Program provisions related to the COVID-19 pandemic. As banks begin to send out more communications, we would like to update you on the issues as we see them. Issues being monitored: Forgiveness Applications: Banks are beginning to send out their…

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CARES Act: Changes to Excess Business Losses

September 17, 2020

The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an interest in a business, or may do so in the future, here is more information about…

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Nanny Tax

More parents may owe “nanny tax” this year, due to COVID-19

September 14, 2020

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal nanny tax obligations. Keep in mind that the nanny tax may apply to all household workers, including housekeepers, babysitters, gardeners or others who aren’t independent contractors. If you employ someone…

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Scholarship tax-free

Is Your Scholarship Tax-free?

September 2, 2020

Despite the drastic changes COVID-19 has brought to our schools and colleges, one thing remains the same: tuition bills. If you or your child has been awarded a scholarship, that’s cause for celebration! But be aware that there may be tax implications. Scholarships (and fellowships) are generally tax-free for students at elementary, middle and high…

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Chris Deweese Named 2020 Sharp Shooter

August 25, 2020

Originally published in the Spring 2020 Edition of West Virginia Executive Magazine By Lori Kersey Chris Deweese, a partner at Suttle & Stalnaker, PLLC, is an accountant with the heart of an entrepreneur. Before the Chelyan native could even drive, he had already started his own business. “I started a small lawn mowing company and…

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cutting costs

Surviving the Downturn: Cutting Costs

August 25, 2020

Suttle & Stalnaker, PLLC is pleased to publish this four-part series providing guidance to the energy sector as we navigate the COVID-19 pandemic and beyond.   Chris Deweese, CPA, CGMA Member, Suttle & Stalnaker, PLLC If you are in the energy market, you already know what recent market conditions and COVID-19 have done to the…

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The possible PPP tax implications

August 11, 2020

If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential PPP tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted on March 27, 2020, is designed to provide financial…

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crisis recruiting and hiring

Recruiting in Today’s Environment

August 10, 2020

Important Elements to Keep in Mind During Crisis Recruiting and Hiring  By Chris Lambert, CPA, CGMA, CCIFP Originally published in the May/June edition of “West Virginia Construction News”  by CAWV Business owners know that from time to time, a crisis will present itself in some form. You can’t really be operational and not have various…

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paycheck checkup

Is it time for a paycheck withholding checkup?

August 7, 2020

Were you surprised to discover you owed money on your 2019 tax return? You might want to change your paycheck withholding so that this doesn’t happen next year. If you received a large refund, you also might want to review your withholdings. Receiving a tax refund essentially means you gave the government an interest-free loan.…

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Re-evaluate your company’s competitiveness in a changed economy

July 27, 2020

Just about every business owner’s strategic plans for 2020 look far different now than they did heading into the year. The COVID-19 pandemic has changed the economy in profound ways, forcing many companies to recalibrate suddenly and severely. As your business moves forward in this uncertain environment, it’s important to re-evaluate competitiveness. You may have…

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