Archives for March 2020

Interpreting the new CARES Act: What it means for your business

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The much-needed support for small businesses and non-profit organizations has been realized by the passage and signing on Friday March 27, 2020 by the President of The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which introduces the Paycheck Protection Program as a key provision in Title I — the Keeping American Workers Paid and […]

Paycheck Protection Program just passed by Congress

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The Paycheck Protection Program (PPP) is now awaiting sign-off by President Trump. Below are some key provisions in anticipation of its signing. All details need to be vetted and changes can occur. We’re watching this closely. Here’s what we currently anticipate: A completely new, temporary lending program to aid small business. The bill will provide roughly […]

SBA disaster relief for small businesses & nonprofits in NJ and other states

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Small business owners and nonprofit agencies may have been tossed a lifeline from the U.S. Small Business Administration, which just named New Jersey and several other states a declared disaster state in the wake of the Coronavirus pandemic. This declaration will allow New Jersey small business owners and non-profit organizations impacted by COVID-19 to apply […]

The latest guidance on tax payment relief

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We have received guidance regarding the special payment relief proposed by the Treasury Department on March 17. This payment relief includes: Individuals: Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of the 2019 tax due. This […]