Round Two of the COVID-19 Stimulus PlanDecember 22, 2020

Monday night Congress approved the new COVID-19 related stimulus package. A major development that many contractors have been anticipating, arrived for the holiday season. Under the Consolidated Appropriations Act, 2021 expenses paid with forgiven Paycheck Protection Program (PPP) loans are 100% tax deductible. Businesses who received funding under the Payroll Protection Program (PPP) will now …
The Last Word on the Payroll Protection Program… Well at Least in 2020!November 4, 2020

If you are reading this, congratulations on surviving. 2020 is the benchmark of change and chaos highlighting that survival and success favored those prepared. The PPP loan program saw the issuance of more than 4.9 million loans to small businesses around the U.S. Many business owners may be numb about the news and latest revisions …
PPP: Simpler Forgiveness for Smaller LoansOctober 30, 2020

Business owners who received a Paycheck Protection Program (PPP) loan of $50,000 or less can now apply for loan forgiveness through a simplified application. The U.S. Small Business Administration (SBA) announced the change on October 8, while Treasury Secretary Steven Mnuchin said the Treasury Department and SBA will continue to advocate for additional legislation in …
New Jersey Pass – Through Business Alternative Income Tax ActOctober 27, 2020

Legislation was passed on January 13, 2020 establishing a pass-through business alternative tax (PTBAT). How Does It Work Starting in 2020, pass-through entities may elect to pay a PTBAT. Paying the tax is an annual election. The tax is based on each member’s share of distributive proceeds. Distributive proceeds mean “net income, dividends, royalties, interest, …
IRS Temporarily Stops Mailing Three Balance-Due NoticesAugust 28, 2020
Telecommuting and Sales NexusAugust 18, 2020

Nexus Based on COVID-19 Telecommuting This chart shows which states have issued specific guidance on whether telecommuting employees temporarily working in a state due to the impact of COVID-19 create corporate income tax nexus for an employer who does not operate in that state. See Corporate Tax Chart This chart shows which states have issued …
Thomas Reuters Income Tax and Sales Tax Appointment ChartAugust 7, 2020
PPP Forgiveness Applications on HoldAugust 5, 2020

Paycheck Protection Program (PPP) borrowers who have completed their covered period and used their funds in line with the requirements for loan forgiveness will have to wait until at least August 10 to be able to submit a forgiveness application, pending economic stimulus legislation that will likely impact PPP forgiveness procedures. The Small Business Administration …
The Curchin Open Continues; It’s Just a Little Different This YearJuly 24, 2020

Each November since 2005, The Curchin Group has sponsored the Curchin Open Miniature Golf Tournament for Charity. The tournament has raised and donated over $212,000 to local charities since its inception. But the event simply wasn’t made for a pandemic. In lieu of the 2020 Curchin Open, we’re digitizing the event’s core purpose: supporting nonprofits …
COVID-19 FAQs from the Occupational Safety & Health AdministrationJuly 20, 2020

The Occupational Safety and Health Administration (OSHA) is providing guidelines to help keep workers safe as businesses reopen during the ongoing coronavirus pandemic. Employers should look to OSHA’s COVID-19 FAQs for information on workplace sanitization, face coverings, healthcare, coronavirus testing, reporting, employee training and more. The page contains recommendations as well as descriptions of mandatory …