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Category: COVID Relief

By: Janover Communications The COVID-19 pandemic has impacted nearly all businesses in one way or another. One Janover client, a staffing company, took a particularly stiff hit. “They were decimated,” said Janover Partner Anthony Napolitano CPA. “They’re still working through losses, Read More

New York State is expected to begin accepting applications for the state’s $800 million COVID-19 Pandemic Small Business Recovery Grant Program on June 10, through Empire State Development, New York State’s primary business-aid agency. This grant will provide funding to small and micro-bu Read More

By: Ryan Glasco, CPA Think your marijuana-related business doesn’t qualify for COVID-19 relief funds? Actually, it may. Direct marijuana businesses – those that grow, produce, process, or distribute marijuana – as well as indirect businesses – those that derived any of its gross reven Read More

By: COVID Response Team If you haven’t already taken advantage of the Employee Retention Credit (ERC), a fully refundable payroll tax credit that provides eligible employers with up to $33,000 per employee from March 13, 2020, through December 31, 2021, now is the time. Many companies do no Read More

By: Jason Hoffman Small residential landlords now may be eligible for new COVID-19 financial relief with the New York Forward Loan Fund (NYFLF). The program aims to support some of the hardest-hit small businesses throughout the state as they continue to reopen from COVID-19 required closures Read More

By: Mindy Kamen The American Jobs Plan, President Biden’s $2.25 trillion infrastructure plan introduced March 31, is an eight-year program that will allocate nearly $620 billion for transportation projects. It includes $111 billion to replace 100% of the nation’s lead pipes and service li Read More

A measure to extend the Paycheck Protection Program (PPP) application deadline from March 31, 2021, to May 31, 2021, has passed the U.S. House of Representatives and the Senate. It now heads to President Biden’s desk for signature which he is expected to do promptly. Small businesses will h Read More

By: Barry Sunshine, Joe Tancer , and Chris Zingalli The American Rescue Plan Act (ARPA) of 2021 passed Congress and President Biden signed the bill into law on March 12, 2021. The ARPA approves $1.9 trillion in spending for individuals, businesses, governments, and certain industries impa Read More

By: Barry Sunshine, Joe Tancer , and Chris Zingalli Form 1040, Schedule C taxpayers received an updated interim final rule (IFR) on the Paycheck Protection Program (PPP) from the Small Business Association (SBA). The IFR clarifies guidance released on Feb. 22 that made changes to how self-e Read More

By: Barry Sunshine, Joe Tancer and Chris Zingalli The IRS has released additional guidance in Notice 2021-20 on the Employee Retention Tax Credit (ERC) with clarifications on the retroactive changes for expanded eligibility applicable to 2020. Employers who received a Paycheck Protection Prog Read More