PPP Loan Update – Potential Treatment of Forgiveness Not Taxpayer Friendly

The CARES Act provided the ability to have your Paycheck Protection Program loan or a portion forgiven while having that forgiven component excluded from income. However, the Act was silent as to the treatment of allocable expenditures. Generally, businesses are allowed a deduction for ordinary and necessary business expenses. There are limits to deductibility where Read more…

An Offensive Playbook for Nonprofit Arts Organizations

Nearly every performance has been cancelled. Galas and other critical fundraising events will not occur. Important youth programs have been curtailed. Like just about every other corner of society, the COVID-19 pandemic has had a sudden and severe impact on arts organizations. The economic impact on the arts and culture industry across the nation is Read more…

Planning for Re-Entry – What Will Business Look Like When We Get Back Our Offices?

As I am beginning my fourth week managing a firm and client projects from an upstairs office in my home, I am beginning to get a bit anxious to get back to the office and find that sense of normalcy again. People communicating face to face; real-time shared excitement when we win a new client; Read more…

Leading Through a Black Swan Event

Last week, participants from around the globe participated in a Webinar sponsored by the World Business Forum featuring Jeff Immelt, Venture Partner, New Enterprise Associates (NEA) and former Chairman & CEO of General Electric (GE). Mr. Immelt led a global team of 300,000 people at GE for more than 16 years and led the organization Read more…

Analysis of Employee Retention Credit and Payroll Tax Deferral Provisions of the CARES Act (Sections 2301 and 2302)

Employee Retention Credit for Employers Subject to Closure Due to Covid-19 Delay of Payment of Employer Payroll Taxes Employers are also reminded to make requests for deferrals available with their state and local agencies.  Under Governor Newsom’s executive order during the Coronavirus state of emergency, California’s tax agencies were given authority to extend certain deadlines.  Read more…

SBA Loan Programs Under the CARES Act

New or Modified SBA Loan Programs under the Recently Enacted Coronavirus Aid, Relief, and Economic Security Act (CARES) The following new or modified loan programs under the CARES Act are administered by the SBA, through qualified SBA lenders.  As this is a new Act, rules and regulations will follow, along with anticipated published guidance and Read more…

How Today’s Crisis Can Create a Future Proofed Company

A few years ago, I read Antifragile by Nassim Nicholas Taleb. While the author’s tone and style may not strike the right chord with all readers, I’m reminded once again of this fascinating and controversial book. His contrarian view on the business world was interesting reading then, but today, in light of the COVID-19 crisis, Read more…

Senate Proposed CARES Act (S. 3548)

The White House and Senate have announced they’ve come to an agreement in terms of the Coronavirus Aid, Relief, and Economic Security (CARES) Act being negotiated in the Senate Finance Committee. This is a first step in the process, which will still require passage by both the full Senate and the House, before reaching the Read more…

Summary of Tax Relief Programs in the Face of Covid-19

  We hope you and your family are safe and healthy. We want to bring you the most relevant and accurate information, and as the news on tax relief has been evolving daily over this last week here is a summary of what we know now. We have included a summary below of certain tax Read more…

Tips for those Working Remotely

As we, and so many other companies enter the second week of working from home, and many who have had to possibly embrace this model overnight, we offer you well wishes and some tips for working at home. 1. Create a stable workplace. If you do not have an extra room, carve out a spot Read more…

Families First Coronavirus Response Act

*The situation is continually in flux, so please check back for the most up-to-date information* On March 18, President Trump signed into law the Families First Coronavirus Response Act. While the Act contains provisions authorizing funds for relief programs, it also includes some significant provisions impacting middle-market businesses. These provisions generally apply to employers with Read more…