Category: Business Consulting and Planning

Business Consulting and Planning

Provisions in the CARES Act that are Important in the M&A Area by Lewis Taub, CPA


Posted on April 10, 2020 by Lewis Taub

On March 27, the president signed into law the Coronavirus Aid, Relief and Economic Security Act (CARES Act), which provides a wide range of tax and financial relief to businesses and individuals suffering the economic consequences of the COVID-19 pandemic. Provisions contained in the law include simple payroll tax relief and intricate adjustments to the […]

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 – 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 […]

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 […]

Taxpayers Have More Time to Make Contributions to Certain Retirement Plans, HSAs for 2019 by Rick D. Bazzani, CPA


Posted on March 25, 2020 by Rick Bazzani

The IRS has clarified that the extension of the 2019 federal income tax filing deadline to July 15, 2020, also applies to taxpayers’ contributions to traditional IRAs, solo 401(k)s and health savings accounts (HSAs). Generally, the deadline for making these contributions is the due date of the taxpayer’s federal income tax return filing, which is […]

IRS Extends Federal Tax Filing, Payment Deadlines to July 15 by Steven G. Messing, JD, CPA


Posted on March 24, 2020

In response to COVID-19 and its impact on U.S. taxpayers, the IRS officially postponed the 2019 federal income tax filing and payment deadlines from April 15, 2020, to July 15, 2020. These automatic filing and payment extensions apply to all individual taxpayers (including the self-employed), trusts and estates, C corporations, partnerships, limited liability companies (LLCs) and other […]