Blog
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State and Local Tax Filing and Payment Extension Due to COVID-19
April 7, 2020In addition state and local governments are employing various strategies to assist with due date relief. The due date in New York State has been extended to July 15th, and the state will waive penalties and interest for returns filed and payments made by this date.
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Subsidy for Certain SBA Loans
April 6, 2020The Small Business Administration (SBA), has also allowed for certain subsidies where the loan is guaranteed by the SBA. This is outside of the current Payment Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Programs, within the CARES Act.
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Updates to Economic Injury Disaster Loans
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Tax in Ten: Employer Payroll Tax Deferral
The Employer Payroll Tax Deferral Under the CARES Act could be a viable option for employers, but is it right for you?
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Understanding the SBA Guidance Issued Yesterday: Banks Start Accepting SBA Loan Applications Under the CARES Act
April 3, 2020SBA issues further guidance surrounding the payment protection loan program under the CARES Act. Here is what we current know as fact, and some of our professional interpretations.
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Technical Amendments in the CARES Act Related to Qualified Improvement Property
April 2, 2020This code section reinstates the short life for Qualified Improvement Property, which also opens it up for bonus depreciation, fixing what many call a technical error under the tax cuts and jobs act (TCJA).
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Webinar: Navigating the CARES Act – How your Small Business May Benefit from Available Loan Programs
April 1, 2020 -
Did Someone Say Recovery Rebate?
March 30, 2020The recovery rebate under the CARES Act, is the attempt of the Federal Government to put money into the pockets of individuals and ultimately the economy. The amount each individual receives under this program depends on a few factors.
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Recipients of SBA 7(a) Loans “Paycheck Protection Program” Under the CARES Act are Eligible to Have Certain Amounts Forgiven
March 28, 2020Loan forgiveness under the paycheck protection program within the CARES Act is available. However, there are stipulations, and requirements that must be followed such as employee headcount and overall compensation.
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SBA Assistance Under the CARES Act: Paycheck Protection Program
March 27, 2020The third phase of the economic stimulus bill, also knows as the CARES Act, allows Businesses who employ less than 500 employees to receive a loan under section 7(a) of the Small Business Act – this includes any business concern, private nonprofit organization, or public non profit organization (as long as the nonprofit organizations are not receiving medicaid expenditures). An addition made to previous versions, this version also includes sole proprietors, independent contractors and eligible self-employed individuals. For obvious reasons, loans for small businesses under the CARES Act might be on of the most anticipated pieces of legislation.
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