Read the latest on the impact of COVID-19 and BST's response.

BST & Co. announces promotion of Kimberly Wright to tax partner

ALBANY, New York – January 13, 2021 – BST & Co. today announced that Kimberly Wright has been appointed partner in the tax department at the Capital Region-based financial and management consulting firm. Wright formerly served as senior tax manager and originally joined BST in 2008.   Read More 

Paycheck Protection Program Second Draw Loans – What You Need to Know

While we all celebrated the end of 2020 with renewed hope for what 2021 will bring, it is clear that at least the beginning of this year still has its challenges for many. Fortunately, The Economic Aid Act provides for a second stimulus program for businesses, not for profits and other types of organizations.  Read More 

COVID-19 Relief Act opens back door to Employee Retention Credit (ERC) and loan forgiveness under the PPP

In the recent COVID-19 Relief Act the government provided an opportunity for businesses to retroactively qualify for certain employee retention credits (“ERC”) even if they utilized the PPP loan program. When the CARES Act was enacted last March, businesses were presented with two principal choices that encouraged keeping people employed: utilize the PPP loan program with expectations of loan forgiveness to fund employee payroll and certain overhead expenses OR use the ERC to qualify for a refundable credit of 50% of qualified wages (limited to $10,000 per employee).   Read More 

From Congress to PPP Borrowers

As so many small businesses hoped for, on Sunday, December 27th, President Trump signed the Consolidated Appropriations Act of Fiscal Year 2021 which confirms the relief that was originally intended by the CARES Act: expenses funded with proceeds from forgiven PPP loans are deductible!   Read More