Paycheck Protection Program Corrections and Additional Funding Many industries were severely impacted by the COVID-19 pandemic, and real estate was no exception. Leases and loans were renegotiated, rents were deferred or reduced and some tenants went out of business. Congress passed the Paycheck Protection Program (PPP) as part of the CARES Act, and while good[ … ]
Tag: COVID-19
New law doubles business meal deductions and makes favorable PPP loan changes
Businesses received several favorable tax breaks in the COVID-19 relief bill that was recently signed into law. Here are just two of them.
COVID-19-Related Relief is Signed into Law
On December 27, President Trump signed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief, as well as other tax and health-related provisions.
Employer-Provided Disaster Relief & COVID-19
Amid the COVID-19 pandemic, many employers are looking for tax-advantaged ways to help their employees with additional expenses incurred as a result of the pandemic. Section 139 of the Internal Revenue Code provides the answer. On March 13, 2020, President Trump declared COVID-19 a national disaster under the Robert T. Stafford Disaster Relief and Emergency[ … ]
Tax responsibilities if your business is closing amid the pandemic
There are a number of tax obligations that must be met when a business closes its doors. Sadly, because of COVID-19, many businesses are facing this reality. Here are the basic requirements.
Josephine Giordano to speak at the National Cannabis Business Symposium
Josephine Giordano, a Director in BeachFleischman’s Financial Forensics and Business Valuation Services Group, will be giving two presentations at the National Cannabis Business Symposium on October 26-27. She will present on the topics of “Dealing with Disruption After COVID-19” and an “Arizona Update: Growth on the Horizon.” Ms. Giordano is the Chairperson of the Arizona[ … ]
Tax implications of working from home and collecting unemployment
Have you lost your job and collecting unemployment? Or are you fortunate to be working from home because of the pandemic? Both of these situations could have tax implications.
M&A: Considerations for PPP Loans
Do you have a business that received a PPP loan and now you are considering a change in ownership, like a sale, purchase of a competitor or even adding a new partner? There are several different things that need to be considered before any transaction in order to preserve your ability to get PPP loan forgiveness. Here are the questions you should be asking before you sign on the dotted line.
Latest PPP FAQ Document Provides Clarity on Some Aspects of Forgiveness
The Small Business Administration (SBA) and Treasury released an updated Paycheck Protection Program (PPP) FAQ on Aug. 4 in an effort to address PPP loan forgiveness issues that have arisen as borrowers begin to complete their applications. The 23 FAQs address various aspects of PPP forgiveness including general loan forgiveness, payroll costs, non-payroll costs, and[ … ]
Where Does Arizona’s Revenue Stand At This Moment?
The COVID-19 pandemic that led to tens of thousands of layoffs, and record levels of unemployment claims in Arizona has also pummeled sales tax revenue over the past couple of months. We’ll remain in wait-and-see mode to see whether the lapsing of the stay-at-home order boosted the economy enough to counter the spike in cases[ … ]
