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Certfified Public Accountant Auburn, NH - CPA Services Auburn, NH
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January 21, 2021

New Hampshire Taxation of COVID-19 Relief Funds

Erin Maloney / 0 Comments / Uncategorized /

The New Hampshire Department of Revenue has today issued a Technical Information Release (TIR 2021-001) relative to the New Hampshire Taxation of Federal and State Covid-19 Financial Relief Funds. The TIR can be found online at https://www.revenue.nh.gov/documents/2021-001.pdf Simply stated, the release addresses these main issues: 1. Federal relief funds like Paycheck Protection Program (PPP) Funds:… [Read More]

January 8, 2021

Second Round of Paycheck Protection Loans

Erin Maloney / 0 Comments / Uncategorized /

At the end of 2020, Congress passed, and President Trump signed, a new law that provides for additional relief related to the coronavirus (COVID-19) pandemic. This law, the Consolidated Appropriations Act, 2021 (CAA 2021), includes a second draw of Paycheck Protection Program (PPP) loans. It also allows businesses to deduct ordinary and necessary expenses paid… [Read More]

December 7, 2020

NNESEA Elections

Erin Maloney / 0 Comments / Uncategorized /

Please join us in congratulating our own Enrolled Agent Jan Sorrentino, as she was elected as the Vice President of the Northern New England Society of Enrolled Agents on Friday, December 4th. Jan has had her EA license since 2014 and was elected as New Hampshire Director in December of 2017. Our own Trish Mantone,… [Read More]

November 30, 2020

CARES Act – Tax Provisions for Individuals

Erin Maloney / 0 Comments / Uncategorized /

As the calendar year is coming to an end and taxpayers are considering charitable giving, we wanted to send out a quick reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748 contained a tax provision relative to 2020 charitable donations made by individual taxpayers as follows; “Above the Line” Charitable Deductions… [Read More]

November 20, 2020

Paycheck Protection Loans Timing of Deductibility of Expenses

Erin Maloney / 0 Comments / Uncategorized /

On November 18, 2020 the U.S. Treasury Department and Internal Revenue Service (IRS) released Rev. Rul. 2020-27 and Rev. Proc. 2020-51 clarifying the tax treatment of expenses where a Paycheck Protection Program (PPP) loan has not been forgiven by the end of the tax year the loan was received. In summary, if a business reasonably… [Read More]

October 29, 2020

IRS Launches New Form Replacing 1099-MISC for Contractors in 2020

Erin Maloney / 0 Comments / Uncategorized /

For many years, businesses have used Form 1099-MISC to report calendar-year payments of $600 and above to individuals who performed services in their trade or business. These include vendors, independent contractors, freelancers and consultants. These payments will now be reported on Form 1099-NEC, while Form 1099-MISC will still be used to report royalties, health care… [Read More]

October 23, 2020

Main Street Relief Fund 2.0

Erin Maloney / 0 Comments / Uncategorized /

Governor Chris Sununu has authorized the allocation and expenditure of $100 million from the CARES Act Coronavirus Relief Fund (“flex funds”) for Main Street Relief Funds 2.0 (MSRF). MSRF 2.0 supports both (1) businesses that did not receive grants from the initial round of MSRF or the General Assistance & Preservation (GAP) Fund, AND (2)… [Read More]

October 20, 2020

M&K Welcomes New Accounting Team Member

Erin Maloney / 0 Comments / Uncategorized /

Maloney & Kennedy, PLLC, a certified public accounting firm in Auburn, New Hampshire, is proud to announce that Greg Sylvain has joined their Accounting Team. Greg has a Bachelor of Science degree in Business Management with a concentration in Finance from Plymouth State University, and a Master’s of Science in Accounting from Southern New Hampshire… [Read More]

September 24, 2020

New Granite Tax Connect Online Portal Being Launched in October

Erin Maloney / 0 Comments / Uncategorized /

The New Hampshire Department of Revenue is releasing a new online portal for business tax, Interest and Dividends tax, and Communications Service tax in October 2020. Taxpayers in this group, along with their tax preparers, will have access to the department’s Granite Tax Connect once the launch is live. Taxpayers are urged to take advantage… [Read More]

July 1, 2020

CARES Act – REVISED FORGIVENESS APPLICATION

Erin Maloney / 0 Comments / Uncategorized /

On June 17, the U.S. Small Business Administration (SBA), in consultation with the Treasury Department, released a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application for forgiveness of PPP loans. The applications reflect changes to the PPP made by the Paycheck Protection Flexibility Act of… [Read More]

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Maloney & Kennedy, PLLC

Auburn
15 Dartmouth Drive, Suite 203
Auburn, NH 03032

Concord
197 Loudon Rd,
Concord, NH 03301

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Manchester/Auburn, NH: (603) 624-8819
Concord, NH: (603) 736-9536

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Maloney & Kennedy, PLLC

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