The SBA newly released a Restaurant Revitalization Fund draft application form. Grant amount = (2020 gross receipt – 2019 gross receipt) – PPP1 – PPP2 There are also formulae for calculating RRF amount for restaurants that started operation in the middle of 2019 or in 2020 before 3/11/20. Our video details the application.

For Immediate Release 04-02-21  Updates to the Application Process of the Restaurant Revitalization Fund Detailed Video to be aired at 8:00 PM CST on April 2, 2021 On May 31, 2021, new guidance has been released by the SBA on the application process for those looking to apply to the Restaurant Revitalization Fund. This change will be beneficial to many restaurant owners. Community CPA will release a detailed video at 8:00 PM CST on April 2, 2021 to address these changes.  Video will be available for viewing on the following channels: www.youtube.com/c/communitycpa www.facebook.com/communitycpa 

The SBA Iowa's District Director Jayne Armstrong has announced that all major documents related to PPP and EIDL have been translated into 17 languages. Spanish - español Arabic - العربية Chinese (Mandarin/Cantonese) - Simplified - 中文简体 Chinese (Mandarin/Cantonese) - Traditional - 中文繁軆 French - Français German - Deutsche Gujarati - ગુજરાતી Haitian Creole - Kreyòl Ayisyen Hindi - हिन्दी भाषा Italian - Italiano Japanese - 日本語 Korean - 한국어 Polish - Polski Portuguese - Português Russian - русский язык Tagalog - Tagalog Vietnamese - Tiếng Việt They expect some Shuttered Venue Operator Grant (SVOG) materials next week. You can see all of translated resources here: https://www.sba.gov/page/covid-19-recovery-information-other-languages and this is accessible via https://www.sba.gov/relief and https://www.sba.gov/asistencia. For more information, contact Jayne Armstrong, SBA District Director, Iowa District Office: (515) 284-4026, jayne.armstrong@sba.gov

We often get questions on deducting car expenses. If you have a business or are a contractor and use your vehicle, this webinar is for you! In this session, Ying will teach you about the regulations on what is deductible and methods for deduction. Don't miss out on these tax savings.

Community CPA advised some clients to hold off your tax filings until the new legislation has been signed. Now that the American Rescue Plan it has been signed, come hear about the updates on what it includes, who it impacts, and guidance on your tax filings!