3508EZ PPP Loan Forgiveness

You may be able to apply for forgiveness through the SBA Form 3508EZ if you are a borrower who is: Self Employed Individuals, Independent Contractors, or Sole Proprietors who have no employees at the time of the PPP Loan application (no employee salaries included) OR A Borrower who did not reduce the annual salary or […]

Forgiveness for the Paycheck Protection Program Loan

Forgiveness for the Paycheck Protection Program Loan (PPP Loan) now has an application with detailed instructions. The SBA and the Department of the Treasury have come together to release a form with detailed instructions and an application for forgiveness. Please note that the application and instructions will be subject to further regulation and guidance. Please […]

Executive Order 202 Extended

On May 7, 2020, New York Governor Cuomo issued an extension on the mortgage and rent moratorium to August 20, 2020. The extension states: The following addition was made: All information and quotes were provided by the following resources: https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/EO202.28.pdf https://www.crainsnewyork.com/real-estate/eviction-moratorium-extended-cuomo-also-offers-help-landlords https://www.amny.com/coronavirus/cuomo-extends-eviction-ban-through-august-helping-cash-strapped-new-york-renters/

Credit in Italy – Italian Decree Law no. 23

Please find the following contribution from Dott. Cacciavillan, of Asso Studio, in Vicenza; Dott. Gilberto Gelosa, Dott. Maurizio Bottoni, Dott.ssa Daniela Purghe, and Dott. Stefano Lecchi, of Interconsulting Studio Associato, in Milan; and Massimo Bertoni, Commercialista, in Bologna; all of whom are business consultants (commercialisti) we are associated with; regarding the new Decree by the Italian government in response to financial assistance for businesses affected by […]

Employee Retention Tax Credit

Section 2301 of the CARES Act, the Employee Retention Tax Credit was designed to help businesses who are closed, partially closed, or are dealing with substantial revenue losses due to COVID-19. If you received a Paycheck Protection Loan, you are not eligible for a tax credit [1]. Eligibility Private Employers, including non-profits, regardless of size, […]

Expanded Tax Deductions for Interest Expense Payments

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 […]

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