SBA Extending Repayment Date for Safe Harbor to May 18, 2020

The U.S. Small Business Administration (SBA) issued a new interim final rule on 5/13/20 allowing lenders to increase existing Paycheck Protection Program (PPP) loans to partnerships and seasonal employers. The SBA also extended the safe harbor for returning PPP loans from May 14 to May 18. 47. Question: An SBA interim final rule posted on…

Read More

An Update Regarding SBA Loan Good-Faith Certification

UPDATED: May 13, 2020 46. Question: How will SBA review borrowers’ required good-faith certification concerning the necessity of their loan request? Answer: When submitting a PPP application, all borrowers must certify in good faith that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” SBA, in consultation with…

Read More

2019 Tax Law Change Update

Highlights of spending package’s tax law changes The federal government spending package titled the Further Consolidated Appropriations Act, 2020, does more than just fund the government. It extends certain income tax provisions that had already expired or that were due to expire at the end of 2019. The agreement on the spending package also includes…

Read More

INSIDE Public Accounting Recognizes Hertzbach as Top Accounting Firm

INSIDE Public Accounting has highlighted Hertzbach in their 2019 issue of IPA 200, which ranks accounting firms based on financial performance. Their annual report shows the ranking and performance metrics of the nation’s largest public accounting firms. INSIDE Public Accounting is an independent newsletter for analyzing news, trends, best-practice strategies, and insider information in the…

Read More

Lost profits versus lost business value

This article was originally published in The Daily Record. In commercial litigation, a primary role of a financial expert is to compute economic damages that may have been suffered by a party. In order to quantify economic damages, experts are commonly asked to calculate lost profits and/or lost business value. As a result, they must…

Read More

Hertzbach Receives 2018 Customer Superstar Taxologist Award

Thomson Reuters announced the winners of the Customer Superstar Awards at its 38th annual SYNERGY Users’ Conference for tax and accounting professionals in Orlando, Fla. The Customer Superstar Awards were created to honor practitioners and firms who demonstrate outstanding dedication and service in the tax and accounting profession. Winners were selected by a panel of…

Read More

Hertzbach in Focus: Meet Andrew Schmidt

As the Special Olympics celebrates its 50th anniversary this year, we took some time to interview Andrew Schmidt, a staff accountant based in our Owings Mills office, who has been involved with the Special Olympics since 2012. Andrew’s brother Mike started his involvement as a Special Olympics Athlete in 2006 at the age of 12, participating…

Read More

Hertzbach and Operation Backpack

Continuing our annual tradition with Volunteers of America Chesapeake’s Operation Backpack – the Hertzbach Volunteer Committee organized a drive and pulled together eight full backpacks for children ranging from Pre-K to high school. Additionally, several other boxes of supplies were collected. Operation Backpack is an initiative for our region’s most vulnerable children. Donations help provide backpacks,…

Read More

Bret Carr featured in Mighty Guides’ Book on IT Outsourcing

Hertzbach’s Bret Carr, CPA, has been featured in the Mighty Guides, Inc’s, 8 Experts on Outsourcing IT for Strategic Advantage. This piece features eight IT experts who give their input on when and how a business should outsource their IT services. Bret Carr, CPA, is a partner at Hertzbach and has served as the Chief…

Read More