Lynch Marini 2020 Peer Review

To Lynch Marini & Associates Inc and the Peer Review Committee of the Massachusetts Society of CPAs: We have reviewed the system of quality control for the accounting and auditing practice of Lynch Marini & Associates, Inc. (the Firm) in effect for the year ended April 30, 2020. Our peer review was conducted in accordance with the Standards for Performing and Reporting on Peer Reviews established by the Peer Review Board of the American Institute of Certified
Public Accountants (Standards).

Lynch Marini Peer Review 2020

The Paycheck Protection Program Flexibility Act of 2020

In a unanimous vote, the U.S Senate passed the Paycheck Protection Program Flexibility Act of 2020. The legislation, which moved through the U.S. House of Representatives last week, creates more flexibility for borrowers and extends the time period for businesses to use the funds from eight weeks to 24 weeks, and changes the ratio from 75/25 to 60/40 for payroll to other fixed costs. Other updates include:

  • Extending the repayment period to a minimum maturity of five years after application for forgiveness with a remaining balance.
  • Access to payroll tax deferment for businesses that received PPP loans.
  • Extending the rehiring deadline to align with expiration of enhanced unemployment insurance benefits.

The bill now goes to the President’s desk for his signature.

We expect the forgiveness PPP loan application to change based on the new legislation. If your business has been awarded a PPP loan, you will need to work with the lender which provided you the loan. Many of these financial institutions will require that you use their forms to apply for forgiveness (not the standard SBA form), and they may require that you provide your PPP forgiveness application and documentation on-line.

Additional information can be found here:

Norwell Business of the Year

Lynch Marini & Associates named Norwell Business of the Year. Norwell’s Business of the Year award strives to highlight those that go above and beyond that description. This year’s award goes to Lynch Marini & Associates. The certified public accountant firm has offices in Natick and at 99 Longwater Circle in Norwell, having moved to the South Shore town in 2009. Since then, the firm has been the provider of accounting, tax and business services to the community.

Lynch Marini also supports local organizations, not only with accounting services, but by donating money for events like Summer Fest and helping build homes for Habitat for Humanity. The company is a gold sponsor for this year’s Norwell’s Summer Fest event, donating $2,500, and has provided their accounting services for past festivals.

“It’s great to be able to get out and enjoy the community and your neighbors and meet other people,” Lynch Marini & Associates Principal Partner Robert Lynch said.

Besides Summer Fest, the company also supports scholarship programs in town, the Norwell Scholastic Arts Society, The James Library and the Norwell Robotics Team.

“I think it’s very important to give back to the community, to help the community thrive and be healthy and help those who need help,” Lynch said. “Everyone needs it now and then.”

When Habitat for Humanity was building a home on Circuit Street in 2012, Lynch Marini was one of several companies that helped with construction. Robert Lynch was one of 10 employees who went to the site and helped put up siding and performed other construction work around the site.

“It was good to help out with a service project in the community,” he said.

The company, especially Lynch, has certainly made an impression on the community, which is why Norwell resident and business owner Reiko Beach nominated them for the award.

“I have known Rob Lynch for a number of years and he has always been open to helping answer accounting questions for my business,” Beach said. “He has always given generously his time and patience to me and people that I have recommended to him.”

In a press release, the Norwell Chamber of Commerce said Lynch Marini goes above and beyond what any normal business does to support the community it serves.

“The Norwell company prides itself in looking beyond the numbers – each client engagement is a living entity, in other words, the company is vested in its clients’ businesses, towns and organizations in which the clients are deeply vested with their own blood, sweat, and tears,” the release states.

In response to the high praise, Lynch simply said it was a pleasure to serve the Norwell community in whatever capacity the company can.

“We’re all here to help and we all have our different needs,” he said. “We’re just glad to be able to help anyway we can.”

For more information on open positions, and accounting services, contact our team.