Latest COVID-19 Related News
Michigan state government has established one of the most restrictive COVID-rules and regulations for businesses in the country – especially for the restaurant industry. On Monday, November 2, new rules went into effect requiring food businesses to take down...Don’t Forget to Apply for PPP Forgiveness
You must request and be granted forgiveness for any PPP loan you obtained otherwise you will owe the money back. It is not an easy process. Instruction issued at the beginning of the PPP loan process have been changed and the forms required to be submitted have...Loan Money Still Available
Independence Business Consulting (IBC) was the firm Kallas used to manage and apply for the PPP and EIDL loans for our clients. The feedback from our clients was very good. According to our clients, IBC quickly responded to questions and got the work done in an...COVID Loans Present Unusual Tax Consequences For 2020 And 2021
The PPP and EIDL loans obtained by restaurants in 2020 will present some unusual tax consequences to restaurant owners on their 2020 and 2021 taxes. Both the PPP and the EIDL are considered loans. When you received your EIDL money, that was a loan for tax purposes...More ACA Updates
The Affordable Care Act (ACA) is still with us and a big administrative pain for large restaurants and restaurant chains.
