Economy

Private sector employers added 2,369,000 jobs in June, according to payroll giant ADP, in a promising sign of business recovery despite the COVID-19 pandemic. ADP also revised upward its May total from a loss of 2,760,000 jobs to a gain of 3,065,000 jobs.

The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with more than $130 billion in funding left over.

As small businesses in different parts of the country reopen in the midst of the novel coronavirus pandemic, they are beginning to increase the number of hours worked by their employees, according to payroll giant Paychex, although spikes in the virus are threatening to set back those gains.

ConvergenceCoaching launches annual “Anytime, Anywhere Work” survey; Mazars USA names chief people officer, chief marketing officer; and more CPA news.

The pandemic has created many great opportunities for finance pros to help their clients.

PKF North America is uniting the transaction advisory and valuation practices of six of the firms in the PKF International network and forming PKF Advisory LLC.

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

It pays to be a senior executive in a U.S. family office. Private investment firms of rich families there have the greatest number of C-suite executives making more than $396,000 a year.

Nonprofits, lawmakers and others want to see more giving from fund donor-advised funds, which have grown popular recently because they’re so flexible.

Abdo, Eick & Meyers launches a technology and data solutions services group; LBMC adds five shareholders; and more CPA news.

Accounting Today is putting together its VAR 100 ranking of the top value-added resellers of accounting and accounting-related software by revenue.

The Internal Revenue Service recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology.

The institute released guidance on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program.

The meeting was the last in chairman Russell Golden’s term.

The software partnership aims to give contractors, developers and property managers visibility and control of their project financials to better manage resources, reduce margin fade and more accurately forecast cost and cash flows.

The service issued guidance that levies a 21 percent excise tax on some nonprofit employees’ salaries above $1 million.

ConvergenceCoaching announces Transformational Leadership Program graduates; Baker Tilly admits 23 partners; and more CPA news.

Small businesses have run into roadblocks trying to apply for PPP loans since the pandemic triggered mandatory closures.