Category: Business Owners

Business Owners

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 […]

Businesses Affected by COVID-19 May Receive Financial Relief from Bank Lenders by Brent Leslie, CPA


Posted on March 27, 2020 by Brent Leslie

The Federal Deposit Insurance Corporation (FDIC) issued a letter on March 13 encouraging the country’s banks and credit unions to be especially accommodative to borrowers whose business operations have been adversely affected by the COVID-19 pandemic. Although the notice specifically recommends financial institutions be flexible when working with entities in industries hard-hit by the virus, relief may […]

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 […]

Is Your Business Protected Against Coronavirus-Related Losses? by Daniel S. Hughes, CPA/CFF/CGMA, CVA


Posted on March 16, 2020 by Daniel Hughes

The novel coronavirus (COVID-19) is having a profound impact on lives, businesses and commerce across the globe. As the disease continues to spread, countries have closed their borders, financial markets have fallen, supply chains have become disrupted and businesses are facing the potential of mounting losses that may continue for some time. The longer it […]

Federal and State Governments Offer Disaster-Relief Loans to Small Businesses Impacted by COVID-19 by Joseph L. Saka, CPA/PFS


Posted on March 16, 2020 by Joseph Saka

The Small Business Administration (SBA) announced it will offer up to $2 million in low-interest disaster-recovery loans to support the nation’s 30 million small businesses suffering losses due to the novel coronavirus (COVID-19). Under the Economic Injury Disaster Loan program, the SBA will provide states and territories with federal aid to help qualifying small businesses […]

Is your Business Ready for the New Overtime Rules in 2020? by Adam Cohen, CPA


Posted on March 04, 2020 by Adam Cohen

With the cheer of a New Year, businesses must contend with new rules for calculating employees’ overtime hours under the Fair Labor Standards Act (FLSA). According to the Department of Labor, companies will need to begin paying overtime in 2020 to approximately 1.3 million workers who were not previously eligible to receive it. In general, […]