About Us
The products and services we offer
Recommendations Received (5)
"Have worked with Michael for many years and have been very happy with his service"
"They are proficient in the tax area and are very responsive to client needs. They always put..."
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"They are proficient in the tax area and are very responsive to client needs. They always put clients first, which you rarely see in todays world."
Products & Services
Sickler Torchia Allen & Churechill CPA's PC offers CFO Services (Bookkeeping, Business Consulting) for businesses of any size in and around the Hud...
Preparing for a sale, acquisition, or expansion? Sickler Torchia Allen & Churechill CPA's PC offers business valuation to help you make the big dec...
If you're thinking about retiring from your business, talk to Sickler Torchia Allen & Churechill CPA's PC about your succession plan. Whether you'r...
Recommendations Given (6)
"Anne is very professional and will work hard to sell your property at the best price. "
"Ron is very professional, "
Recent Activity
When the funds are first received they should be set up as a liability (credit to the Balance Sheet) from the Bank or Financial institution where the funds were borrowed from. As expenses are incurred which qualify as PPP expense they should be record like any other expense, a debit to the...
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When the funds are first received they should be set up as a liability (credit to the Balance Sheet) from the Bank or Financial institution where the funds were borrowed from. As expenses are incurred which qualify as PPP expense they should be record like any other expense, a debit to the Profit and loss statement. When you file you forgiveness application, you will make a journal entry moving the loan from the liability to a miscellaneous income account. By posting to income at forgiveness you report your expenses at Gross so your payroll will tie to your payroll reports and the remainder of your expenses will be comparable to both past and future expenses. The most important thing Business owners should remember is the forgiveness, under current tax law, will be considered taxable income to the business.
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