Please find the following post regarding Expanded Tax Deductions for Interest Expense Payments under the CARES Act, from the law firm WithersWorldwide: Private Client Considerations: Expanded tax deductions for your interest expense payments with the CARES Act April 8, 2020 Tax Code Section 163(j) had long imposed limitations on certain corporate taxpayers’ ability to take […]
Dealing with Delays from the SBA If you’re having trouble accessing applications, funds, and other resources from the SBA (Small Business Administration), you are not alone. The New York Times recently published an article detailing the reasons for delays many businesses are facing in trying to access loans the SBA is backing. They include, but […]
Please find the following article (in English and Italian) provided by Hanz Chiapetta, a partner in the law firm of Lawtelier: If you are a US based business who has had to suspend, or reduce, operations as the result of the Coronavirus pandemic, financial aid is on the way to help you keep your employees […]
Vi preghiamo di leggere questo aggiornamento riguardante il provvedimento CARES Act e Paycheck Protection Program che ha scritto l’avvocato Andrea Fiocchi, Partner di Reinhardt LLP : 3 Aprile 2020 (3a Parte) Abbiamo i seguenti aggiornamenti per coloro che stanno avendo difficoltà a depositare la domanda di PPP con la propria banca: BNB Bank Abbiamo parlato […]
Please see the interesting note on the CARES Act and SBA Applications, regarding Affiliations and Companies with over 500 employees, provided by Charles R. Bernardini, a lawyer from Nixon Peabody, LLP, a law firm with whom we are acquainted. When applying for SBA CARES loan there is potential problem for groups with more than 500 […]
Effective throughout New York State on Sunday, March 22th, 2020, at 8PM EST, the governor has ordered a 100% workforce reduction to non-essential businesses[1]. This follows the guidance issued on Executive Order No. 202.6 6: Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency. As of the date and time listed above, […]
NYC will be providing financial assistance to small businesses located in NYC Mayor De Blasio announced on March 8th that the City will begin to provide financial assistance/relief to small business located in NYC (across the five boroughs) to mitigate any decrease in revenue caused by COVID-19.[1] The City has two programs small businesses can […]
Signed into law on March 18th, 2020, and effective April 1st, 2020 until December 31, 2020, the Family First Coronavirus Response Act (FFCRA, H.R. 6201)[1] provides paid sick leave and expanded family and medical leave for reasons related to COVID-19. The Department of Labor’s Wage and Hour Division will enforce the new law’s requirements[2]. This […]
Please find the following update from the New York State Department of Labor: COVID-19 Update: New Legislation to Assist New Yorkers Dear Employers and Business Owners: Governor Cuomo has signed legislation to provide immediate assistance to New Yorkers affected by COVID-19. This will assist New Yorkers who have been subject to a mandatory or precautionary […]
Please find these highlights regarding the CARES Act, Title I, provided by the National Society of Accountants (NSA): March 30, 2020CARES Act UpdateTitle I HighlightsCoronavirus Aid, Relief, and Economic Security Act President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law on March 27, 2020. The CARES Act allocates $2.2 […]