COVID-19 Weekly Update – October 14th 2020

Prior to COVID-19, models of what could happen during a pandemic overstated the possible global death toll, but understated the potential hit to GDP. But as a series in The Economist explains, our current pandemic may have lasting impact. The impacts of shutting down schools for months at a time may persist for decades. Governments around the world are issuing debt at levels never before seen to finance support for…  Read more

COVID-19 Weekly Update – October 7th 2020

Fall is here, and with it, the beautiful colors of the season. Hikes and drives to see the colors are still something we can do, despite COVID-19, as this guide in the New York Times reminds us, with pictures and suggestions across the country. The Berkshires in Massachusetts, Ohio’s Cuyahoga Valley National Park, West Virginia’s Spruce Knob, Maine’s Grafton Notch, Percy Warner Park and Radnor Lake near Nashville, and Guanella…  Read more

COVID-19 Weekly Update – September 30th 2020

With our normal routines turned upside down, people have found as many ways to cope with the pandemic as there are neighborhoods. I love the section of the New York Times showing a series of postcard vignettes of neighbors coming together to connect and help each other, check it out. In Los Angeles, a family picks citrus fruit from trees in their neighborhood, sharing the bounty with the owners of the trees…  Read more

COVID-19 Weekly Update – September 23rd 2020

Sleep is as close to a panacea as we are likely to get in our lifetimes: it helps us recover from injuries and illness, plays a vital role in memory formation, and helps keep us healthy. Disrupting our sleep has an adverse impact on nearly every system in our bodies. So it’s perhaps not surprising that a recent study by the National Bureau of Economic Research found that unemployment disrupts…  Read more

COVID-19 Weekly Update – September 16th 2020

As the world becomes more tech-centric, our behaviors have changed in ways that Emily Post could not have envisioned when she first compiled her guidance on etiquette. Fortunately for my firm we have been using video-chat software for years and have a system in place for two of our staff members NOW THREE to work remotely without skipping a beat.  Elizabeth Spradley is now a “southern girl” having relocated to…  Read more

We Are Running Out of Time, or Payroll Tax Deferral Without Guidance is…

It’s been almost 3 weeks and we accountants, employers and employees have been waiting for answers so that we can make an informed decision.  When I first read the memo I was concerned about the unforeseen consequences.  Please click through to my blog post of August 10th, for the full details and concerns as next week starts the clock and I am still concerned. So are many who have been…  Read more

10 Cyber Security Tips Your Business Needs Now and “The Morning” from the NYT…

Security has always been important to me as my firm started using: cloud based accounting software more technology solutions for transferring data between my clients, the tax authorities and my staff more technology solutions for client business efficiencies communicating between remote staff and clients As read through my on-line newsletters this morning I was reminded that although I have been writing and talking about the importance of protecting client data…  Read more

COVID-19 Weekly Update – August 26th 2020

In the past, automation and technological advances created more jobs than it disrupted, and innovation has greatly improved our lives. However, as this article in the Wall Street Journal reports, economists caution that the COVID-19 pandemic may have accelerated the changes that have already been happening for the last several decades which may be creating a divide between skilled and low-skilled workers. “For many professionals, technology has been a lifeline…  Read more

COVID-19 Weekly Update – August 5th 2020

It’s no surprise to most Americans that the U.S. economy has suffered greatly from the impacts of the COVID-19 pandemic. But what may surprise you is the extent of the decline: a record 32.9% contraction during the second quarter of 2020, the biggest drop since 1947. The virus is still spreading across much of the country, and for 19 straight weeks, more than 1 million people have submitted new claims…  Read more

COVID-19 Weekly Update – July 29th 2020

Perhaps the most challenging part of dealing with the COVID-19 pandemic is that many infected people never show symptoms or have such mild symptoms it’s easy to chalk that out-of-sorts feeling to a poor night of sleeping. Some estimate that as many as 40% of those infected never exhibit symptoms, and these people could be shedding nearly as much contagious virus as those with full-blown symptoms. This high rate of…  Read more

QBO Virtual Boot-Camp, Re-certification & Enhancements

Congratulations to my staff! I’m thrilled that we were able to attend the Intuit Boot-camp on the QuickBooks Online Program. We spent 2 days watching the experts show us the new enhancements and some tips and tricks. We think these enhancements will help ourselves and our clients in our cloud-based accounting software.  Watch this quick video and then check out the bullet points below… Some important new enhancements: +NEW –…  Read more

PPP Loan Forgiveness, Cash Flow Forecasts, Re-opening Consequences & this Morning’s Photo Opp…,

Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. As I take my morning run I try to clear my head and think about what I can do to help alleviate the pressures we are all facing.  Our firm…  Read more

Friday Morning Briefing, Free Masks and N.Y.S. Estimates Due Date Update…

I woke up this morning with lingering nightmare threads.  somehow I had driven to a beach and parked my car and was now running up and down the street hunting for it. Go figure, I guess I am feeling guilty for working out indoors this week! Then I really woke up to a nightmare as I opened my emails and found that N.Y.S. had issued Notice N-20-8 changing the due…  Read more

Business Lessons Learned During COVID-19

If you’re like many small business owners you’re probably astounded by how the world has changed in a very short time. While we can all hope that the pandemic is a once-in-a-lifetime scenario, the truth is there is a lot in life and in business that is uncertain, and there is a great deal we can learn from the response to COVID-19 to help plan for the future. Yes, your…  Read more

The Senate passed H.R. 7010: “PPP” Flexibility Act of 2020

HR 7010 which passed the house last week, passed the senate unanimously and now its on to the president to sign it into law. You may have missed last week’s blog which I posted after this bill passed in the house with some “notes” based upon the House and Senate versions that blog post can be viewed here. This updated version now goes to President Trump to be signed into…  Read more

COVID-19 Business Update – 3 June 2020

Resources to Help You Survive – and Thrive – During the COVID-19 Pandemic Now that some states are lifting lockdown restrictions, retailers whose offerings differ by the season are having an especially challenging time with reopening. Many were not able to fully restock their stores with spring items before they had to shut down, and have warehouses and stores full of items that no one wants now. Restaurants are also…  Read more

A New Normal Mother’s Day, Office Safety Protocol & Your Morning Briefing…

I spent my mother’s day morning with a friend on a plant buying expedition Mother’s Day Greenhouse Plants garbed in gloves hats, masks and glasses and as we practiced social distancing while meeting other gardening enthusiasts at the Brooklyn Terminal Market. I know others who hosted mother’s day dinners via video chat software or FaceTime. It was not quite “business as usual” but it was good to be out among…  Read more

Quick Read & Links: Weekly Update Guide, Resources & NYT Morning Briefing…

Check out our weekly Digest for April 29th located in the Latest Updates and News sections our Covid-19 resource center  which includes a link to the SBA’s PPP policy guide and the SBA’s PPP FAQ’s (as updated April 28th) among other great resources … Check out our recent blog post & video Will I Ever See the Stimulus Money I was Promised?,  which details how to update your banking information for…  Read more

Will I Ever See the Stimulus Money I was Promised?

Here’s hoping that this email and my “not so short video” answers your questions about the stimulus checks or at least clears up some of the confusion. Remember: The amount you get in your stimulus check in the coming months is determined by your 2019 or 2018 tax return (whichever tax return was most recently filed).  Next year, when we prepare your 2020 tax return we will complete a reconciliation…  Read more

Bank PPP Loan Emails, Open at Your Own Risk…

Posting this a bit later in the day, I wanted to make sure that I had the most up to date information to share. I have attended 3 webinars today, including a U.S. Chamber of Commerce Town Hall meeting where the discussion was focused on potential additional funding for both the Paycheck Protection Program (PPP) and EIDL, other small business grants. “The PPP is out of money:  On Thursday morning,…  Read more

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