Business Consulting and Planning

COVOID-19 Economic Relief Extended to Mid-Size Businesses by Joel Glick, CPA/CFF, CFE, CGMA

Posted on April 10, 2020 by Joel Glick

The Federal Reserve Bank announced on April 9 several programs to support its mission of maximizing employment and stabilizing the financial system through the COVID-19 health and economic crisis. One of the Fed’s key initiatives is the Main Street Lending Program, which will extend up to $600 billion in stimulus to mid-size businesses. It is […]

UPDATED – Some Opportunity Zone Investment Deadlines Extended by Federally Declared Disaster for COVID-19 by Arthur J. Lieberman

Posted on April 09, 2020 by Art Lieberman

The COVID-19 pandemic has brought a variety of commercial transactions to a screeching halt. For businesses and investors involved in the Qualified Opportunity Zone (QOZ) program, this temporary pause can delay their ability to meet the program’s statutory time constraints, which may expose them to excise-tax penalties. However, relief from some deadlines currently is available […]

UPDATED – SBA Loans Comparison Chart

Posted on April 07, 2020

Click here to review a comparison chart covering the SBA loans that are part of the CARES Act. SBA Loan Comparison Chart 4 7 20_

UPDATED – COVID-19 Loans for Small Businesses, Not-For-Profits, Independent Contractors by Judd Appel, ABV

Posted on April 05, 2020

Small businesses and non-profits organizations suffering significant losses and risk of permanent closure in the wake of the COVID-19 pandemic may qualify for financial assistance from the Small Business Administration (SBA)’s Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program (EIDL). The PPP, which offers potential loan forgiveness, was created under the government’s $2.2 […]

IRS Issues Guidance on Employee Retention Tax Credit for Employers Under CARES Act by Andreea Cioara, CPA

Posted on April 02, 2020 by Andreea Cioara-Schinas

The IRS today provided details on how it will implement the payroll tax credit included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which encourages U.S. businesses to retain and continue paying employees through the COVID-19 health crisis even when their businesses are shuttered. What is the Employee Retention Credit? The Employee […]

COVID-19 CARES Act Provides Significant Benefits to Property Owners and Others That Invest Capital in Commercial Real Estate Improvements by Angie Adames, CPA

Posted on April 01, 2020 by Angie Adames

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) grants a 15-year depreciation period to qualified improvement property (QIP), making it eligible to bonus depreciation. With this legislation, businesses with commercial real estate holdings may immediately write-off expenses incurred to improve the interiors of non-residential buildings rather than depreciating those costs over 39 years. This […]

Congress Passed COVID-19 Economic Stimulus Package, Expands Assistance for Businesses by Edward N. Cooper, CPA

Posted on March 30, 2020 by Edward Cooper

As the number of COVID-19 cases in the U.S. continues to increase, Congress on March 27 approved its third stimulus package to provide more than $2 trillion in much-needed financial relief to U.S. businesses and families. Following is a brief overview of some of the business-friendly provisions included in the Coronavirus Aid, Relief, and Economic […]

Retirement Savers, Retirees Receive Penalty-Free Financial Relief Under CARES Act by Joanie B. Stein, CPA

Posted on March 30, 2020 by Joanie Stein

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) Act calls for the IRS to lift restrictions on certain retirement savings plans and enable taxpayers to access needed funds without incurring early-withdrawal penalties. Plans covered under this relief include 401(k)s, 403(a)s and 403 (b)s, and individual retirement accounts (IRAs). Specific guidance from the IRS on how […]

Under CARES Act, YOU Get $1,200 and YOU Get $1,200…Maybe by Jeffrey M. Mutnik, CPA/PFS

Posted on March 29, 2020 by Jeffrey Mutnik

COVID-19 recovery rebates are perhaps the most talked about provision of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The newly enacted law calls for the federal government to issue cash payments of as much as $1,200 directly to qualifying individuals. As with most provisions of the tax code, the devil is in […]

Berkowitz Pollack Brant Introduces COVID-19 Response Team, Helps Individuals and Businesses Respond to Challenges by Andrew Leonard, CPA

Posted on March 26, 2020 by Andrew Leonard

The spread of the coronavirus and the rapid pace at which taxpayers must make critical decisions and adapt to shifting policies and regulations will leave an indelible mark on individuals and businesses for generations to come. While change is expected, you do not have to face it alone. The tax, audit, business-consulting and business-valuation advisors […]

Category: Business Consulting and Planning