Blog

I clicked on the email from disastercustomerservice@sba.gov and was a bit surprised that they were inviting me to set up my portal so I could continue my SBA Economic Injury Disaster Loan Application. I said to myself “I got an Offer for a SBA Loan Now What Should I Do?” then I said to myself this is an opportunity and I should approach this as I would any other opportunity…  Read more

On May 28th The House passed the Paycheck Protection Program Flexibility Act of 2020 with nearly a unanimous vote of 417-1.  The official text of the Bill H.R. 7010 is posted here The bill is intended to make the terms of use for the PPP funds more flexible, as many businesses are still prohibited from opening and many employees are reluctant to return to their workplace.  This expansion is NOT…  Read more

I am hoping that everyone practiced safe social distancing as we celebrated our war heroes this memorial day weekend. NYS has just opened the New York Forward Loan Fund (NYFLF) for pre-applications.  This is a new working capital economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak. NYFLF targets the state’s small businesses with: Gross revenue…  Read more

At the onset of the debates and proposals for the stimulus packages, the C.A.R.E.S. Act, PPP & EIDL Loans one of my friends told me about the system some European countries use to support business in times of mandatory shutdowns. It sounded pretty straight forward and she said it accomplished what most economists were saying we needed; a way for employees and businesses to continue paying their bills during the…  Read more

May 19 2020 I am glad to not only share a beautiful morning sunrise with you, but also the links and important information and guidance regarding the Paycheck Protection Program loan forgiveness process. New guidance has come out about the Paycheck Protection Program loan forgiveness process, as well as an application form and instructions.   Here is the link to the:  Paycheck Protection Program Loan Forgiveness Application with Instructions Reminders…  Read more

Every country around the world has its own strategy for dealing with the COVID-19 pandemic. Some countries, like Sweden, are relying on the development of “herd immunity.” However, that approach is not without risks, and shouldn’t be adopted by other countries without consideration of those risks. On the other end of the spectrum, New Zealand effectively eliminated coronavirus. Like Sweden’s approach, New Zealand’s won’t work everywhere. Here in the U.S.,…  Read more

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

This video is a portion of a recent panel discussion with Andrea and other tax professionals on how they set up their offices and were able to support their clients during the COVID-19 Pandemic. Andrea also discusses how cloud software, payroll portals, and document portals enabled her team to support their clients’ grant applications. We are not sure what the new normal will look like once we “open our doors”…  Read more

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

It seems appropriate to discuss this topic as the news this week is focused on “returning to work”.   I wonder what that will look like for people, I believe it depends on our ability to be flexible, creative, careful, courageous, determined and considerate  as we  continue to work remotely or create processes for a sustainable remote/onsite system. I was asked to contribute to a recently published online article here is…  Read more

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

I am so glad to share this photo from another beautiful morning run on the beach today, I hope you are all doing something for YOU each day, it really does help.     The reports are coming in about the stimulus checks.  It seems that only those eligible individuals who had an over-payment direct deposited into their (current) bank account when they filed their 2018 or 2019 tax returns…  Read more

It was overcast this morning on the beach, but I was glad to get out to clear my head on #TaxDay?  Yes it’s April 15th but the only extensions we are filing are for our self-employed clients who operate in NYC (there was only a minimal extension of time to file the Unincorporated Income Tax Returns (UBT). EIDL And PPP Applications and Funding I am hearing from others in the…  Read more

You may have missed our announcement about our CARES Act Overview and Resource Center This post has many critical resources that are also in our resource center which I wanted to highlight, as well as updated information we have put together from all of our research. We believe that the “PPP loan to grant” program is worth reviewing.  We have gotten word that our banking partners do not have complete…  Read more

Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with businesses forced to close, an overload of information (and mis-information on social media) and people risking their lives to save others. With the recent disruption in mind, we have been working to help support you however we can. We’ve seen a number of our clients already impacted…  Read more

Hoping you can spot the dolphins playing in the stormy water today.  In times like this it’s the little things that make a difference, like spotting dolphins swimming by during my morning walk. Last night I hosted the first of what I hope will be the first of many valuable and informative webinars: “Successful Personal Cash Flow Strategies During Times of Uncertainty” and as the news keeps changing I will update…  Read more

Today’s “to do list” started with a walk on the beach at sunrise and a deep breath. It’s time to start planning; the Senate passed the relief package the C.A.R.E.S. Act   and expectations are high that the bill will pass in the House and then be presented to President Trump for his signature by Friday. So now the questions start: “What do I have to do to get this money…  Read more

I have been checking the New York Times Morning Briefing daily as well as my online accounting and business newsletters, the IRS and NYS website, et al, to see what’s going on with our country, our government, our economy, taxes and of course, the Coronavirus.  Here’s the link for today’s NYT briefing My team and I have also been researching valuable resources for loans, grants, and best health and business…  Read more

The Families First Act (H.R. 6201) – what it means for you and your employees Employers will still be able to claim a new quarterly payroll tax credit intended to fund the paid sick leave if it is used for qualified purposes — that is, for employees who are unable to work or telework because of the Coronavirus. The credit will cover 100% of the sick leave wages paid to…  Read more

On Tuesday, March 17, the Treasury Department announced that taxpayers will be able to defer paying their taxes for 90 days past April 15th. BUT…there are some things you need to know: The filing deadline has not changed, it is still April 15, 2020. An extension is required to extend the filing of your 2019 tax return. Income tax payments for returns with a due date of April 15, 2020,…  Read more