Business
Tonneson & Company is proud to have been named a Member Firm of the Year 2020 by Geneva Group International (GGI). Our firm was one of three firms worldwide to have been named Member Firms of the Year in 2020. The award was presented during GGI’s World Conference, which took place online on November 4,…
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On June 22, the SBA issued the Loan Forgiveness Interim Final Rule (LF-IFR) and Loan Review Procedures Interim Final Rule (LR-IFR). These IFRs give new guidance to the PPP loan forgiveness provisions of the CARES Act and insight to the Loan Review Procedures for businesses. Much of the LF-IFR reiterates the changes made under the…
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On May 15, 2020 the House voted to approve a $3 trillion, 1800-page second stimulus package named the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES Act). This Bill would include allowing a deduction for the qualifying expenses paid with PPP loan proceeds, a second round of stimulus payments to individual Americans, and would extend…
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The Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan application required that applicants certify in good faith that “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” The SBA further released Question #31, providing additional guidance regarding the “need” and allowing for a return of the proceeds…
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The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to resolve the many challenges facing them. But the word has an alternate meaning in a business context as well — and a negative one at that. Customer concentration A common problem among many…
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Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: your lender. If you want to maintain a clear path to acquiring the working capital your business may need after you’ve stepped down,…
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Written with contributions from Kathy Rizzo and Rich Eagleston Like public companies, private companies and non-profits are also impacted by the updated lease accounting standard found in ASC 842. What does this change mean for you? We’ve outlined: • When the updated standard goes into effect • Why the change was needed • What it…
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Rick Mastrocola, president and CEO of tonneson + co, recently spoke on a panel at a Geneva Capital Group M&A Dealmakers meeting in Prague to share his expertise and insights on mergers and acquisitions. In addition to Rick, the panel also included Rajesh Kothari of Cascade Partners, Bob Contaldo of XLCS° Partners and Robert Thomson…
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It’s easy to understand why more and more businesses are taking a “bring your own device” (BYOD) approach to the smartphones, tablets and laptops many employees rely on to do their jobs. BYOD can boost employee efficiency and satisfaction, often while reducing a company’s IT costs. But the approach isn’t without risk for both you…
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No matter what your industry, now’s a good time to start learning about blockchain. Secure structure Blockchain is sometimes also called “distributed ledger technology.” It was introduced in 2009 to support digital cryptocurrencies such as bitcoin. Entries in each digital ledger are stored in blocks, with each block containing a timestamp and providing a link…
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