COVID-19 News and Updates

Employee, ERC ,Employee Retention, Billboard, 2021 Top Business Managers List, Wealth Tax, Robbin Caruso

Prager Metis is proud to offer Employee Retention Credit (ERC) calculation assistance!

Alerts
| Jan 21, 2021

The recently-signed Consolidated Appropriations Act of 2021 made significant changes to the rules surrounding the CARES Act Employee Retention Credit (originally a refundable payroll credit for 50% of “qualified wages”

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Prager Metis is proud to offer Employee Retention Credit (ERC) calculation assistance!2022-03-03T10:26:22-05:00

Highlights of $900 Billion COVID-19 Relief Bill Passed By Congress on December 21, 2020

COVID-19 News and Updates
| Dec 22, 2020

The following information highlights the key COVID-19 related relief passed by Congress on December 21, 2020 as part of the Consolidated Appropriations Act, 2021 (a $2.3 Trillion Federal Funding and COVID relief legislation),

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Highlights of $900 Billion COVID-19 Relief Bill Passed By Congress on December 21, 20202021-03-12T12:58:49-05:00
Employee, ERC ,Employee Retention, Billboard, 2021 Top Business Managers List, Wealth Tax, Robbin Caruso

New York Forward Loan Fund: Small businesses and nonprofits that have received PPP loans of up to $50,000 now eligible

COVID-19 News and Updates
| Sep 30, 2020

Empire State Development recently announced that a number of small businesses and nonprofit organizations are now eligible to receive low-interest loans through the New York Forward Loan Fund (NYFLF) if they received $50,000 or less in

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New York Forward Loan Fund: Small businesses and nonprofits that have received PPP loans of up to $50,000 now eligible2022-03-03T10:26:51-05:00

Temporarily Relocating to an Out-of-State Secondary Home Due to COVID-19? You May be Subject to Double Taxation on the Same Income

COVID-19 News and Updates
| Sep 05, 2020

As the CORONA VIRUS Pandemic spread across the United States at the end of March, much of the Country was required to shut down business operations because of governmental stay-at-home orders.

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Temporarily Relocating to an Out-of-State Secondary Home Due to COVID-19? You May be Subject to Double Taxation on the Same Income2022-03-03T10:22:55-05:00

Are Expenditures Paid From Paycheck Protection Program (PPP) Loan Proceeds (That Qualify For Loan Forgiveness) Deductible For Income Tax Purposes?

Many clients and colleagues have been asking a key question regarding the PPP loan program enacted as part of the CARES Act signed into law in March, 2020. The key question is, “can I deduct the expenses that are paid with the PPP loan

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Are Expenditures Paid From Paycheck Protection Program (PPP) Loan Proceeds (That Qualify For Loan Forgiveness) Deductible For Income Tax Purposes?2021-06-02T15:36:45-04:00
Employee, ERC ,Employee Retention, Billboard, 2021 Top Business Managers List, Wealth Tax, Robbin Caruso

Main Street Loans

Company News
| Aug 20, 2020

Please fill out the form to download our Main Street Loans overview chart where we discuss the key features, eligibility requirements, and application details for a variety of Main Street Loan options. [contact-form-7 id="6135" title="Main St Loan Chart"]

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Main Street Loans2021-06-02T15:37:39-04:00

Main Street Lending Program for Mid-Sized Businesses – Updated June 23, 2020

The Federal Reserve established the Main Street Lending Program on April 9 and made modifications to some details and key terms on April 30, 2020, and again on June 8, 2020. The most recent modifications include a 2-year

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Main Street Lending Program for Mid-Sized Businesses – Updated June 23, 20202020-07-20T16:19:26-04:00

IRC Section 165(i) Special Election to Deduct Current Year Disaster Losses in Preceding Tax Year

Existing tax law under IRC Section 165(i) allows a special election to deduct losses occurring in a federally declared disaster area in the tax year immediately preceding the tax year that the loss was incurred. 

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IRC Section 165(i) Special Election to Deduct Current Year Disaster Losses in Preceding Tax Year2020-07-20T16:12:56-04:00
Tax Value, Incentive Stock Options, New Tax Scams, RMD Rules

Your employer just received a PPP loan — here’s what that means for you

Paycheck Protection Loans provide relief to businesses but with certain stipulations. Robbin Caruso recently offered her insight to Business Insider on what this means for businesses and employees.

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Your employer just received a PPP loan — here’s what that means for you2020-07-17T19:55:19-04:00

How to Get Your Company Ready Now for the Post-Virus Construction Recovery

If you are a construction contractor, you have most likely read numerous articles describing the unprecedented impact of COVID-19 on your business. At this writing, Dodge Data & Analytics lists 233 “Virus vs. Construction” stories on its website.

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How to Get Your Company Ready Now for the Post-Virus Construction Recovery2020-07-27T15:22:51-04:00

The limits of coronavirus relief: A real-life case

Many taxpayers face unique circumstances which need to be taken into consideration when determining the best course of action for resolving tax issues. Robbin Caruso presents options to a taxpayer facing loss of her tax refund in the midst of the nationwide pandemic in this Accounting Today article by Roger Russell: Click Here.

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The limits of coronavirus relief: A real-life case2020-07-27T15:14:51-04:00

IRS hits the brakes on collections in response to the coronavirus

The IRS recently paused tax collection activities in response to the coronavirus. Click here to read Marty’s and Robbin’s insight into what this means for those in IRS payment agreements in this recent Accounting Today article by Roger Russell: Read More.  

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IRS hits the brakes on collections in response to the coronavirus2020-07-20T16:13:00-04:00

Estate, Gift, and Income Tax Planning in the Time of COVID-19: A Primer for Families and Their Closely-Held Businesses

Covid-19 has unleashed an emotional, physical and financial assault on all of us.  We are all part of the whole; but understandably, we also see the world from our own perspectives.

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Estate, Gift, and Income Tax Planning in the Time of COVID-19: A Primer for Families and Their Closely-Held Businesses2020-07-20T16:20:35-04:00

Main Street Lending Program: What The Government is Doing for Mid-Sized Businesses

COVID-19 News and Updates
| Apr 14, 2020

Many have asked what the government has done for medium-sized businesses. On April 9, 2020, details were released by the US Treasury for a $600 billion loan program for businesses with up to 10,000 employees

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Main Street Lending Program: What The Government is Doing for Mid-Sized Businesses2020-05-08T20:28:28-04:00

NJBIA Special Webinar: A Business Owner’s Guide to Loans

 Join us Tuesday April 14th at 9am ET for ‘A Business Owner’s Guide to Loans’. Hosted by NJBIA, this webinar’s presenters include Robbin Caruso, Edward Rigby, and Al Titone, SBA District Director of New Jersey,

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NJBIA Special Webinar: A Business Owner’s Guide to Loans2020-04-21T21:27:58-04:00

COVID-19 International Tax & Travel Considerations: What Cross-Border Businesses, Employers and Employees Need to Know

For almost a year, a friend and his wife who reside in New York, had been planning a trip to Peru, including a cruise around South America. Their scheduled departure date: March 12, 2020. With the COVID-19 news getting worse by the day, the

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COVID-19 International Tax & Travel Considerations: What Cross-Border Businesses, Employers and Employees Need to Know2021-08-20T10:46:33-04:00

IR-2020-66: IRS extends more tax deadlines to cover individuals, trusts, estates corporations and others

COVID-19 News and Updates
| Apr 10, 2020

The IRS expands additional relief for taxpayers due to Coronavirus Pandemic with Notice 2020-23 which expands prior relief to include a deferral of any Federal tax return or other form filing obligation originally (or pursuant to an extension) due on or after April 1, 2020, and before July 15, 2020 to July 15, 2020. Read More.

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IR-2020-66: IRS extends more tax deadlines to cover individuals, trusts, estates corporations and others2020-05-04T14:55:38-04:00

U.S. Treasury Releases Official CARES Act Guidance for Nonprofit Organizations

On March 31, 2020, the United States Department of the Treasury released its initial guidance for nonprofit organizations concerning the recently signed Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act.”

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U.S. Treasury Releases Official CARES Act Guidance for Nonprofit Organizations2022-03-03T10:42:13-05:00
Employee, ERC ,Employee Retention, Billboard, 2021 Top Business Managers List, Wealth Tax, Robbin Caruso

The CARES Act: What Qualified Retirement Plan Sponsors Should Know

The recently passed CARES (Coronavirus Aid, Relief, and Economic Security) Act provides financial relief to individuals and businesses. This stimulus package also contains several important changes impacting qualified retirement plans.

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The CARES Act: What Qualified Retirement Plan Sponsors Should Know2020-04-13T17:26:13-04:00
Tax Plan, PPP loans, PANDEMIC

Congress Carved Out a Big Piece Of the Stimulus Package for Small Businesses—Like Co-ops and Condos

Company News | Apr 06, 2020

On March 27, 2020, just a week ago at this writing, the Congress passed and the president signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act.”

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Congress Carved Out a Big Piece Of the Stimulus Package for Small Businesses—Like Co-ops and Condos2022-03-03T13:38:44-05:00
Tax Plan, PPP loans, PANDEMIC

CARES Act Offers Nonprofit Organizations Multiple Methods of Financial Relief

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act.” The Act is a $2.2 trillion relief bill in response to the coronavirus outbreak and is the largest relief bill

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CARES Act Offers Nonprofit Organizations Multiple Methods of Financial Relief2022-03-10T19:22:56-05:00

Survival of the Smartest: Making Sure Your Link in the Supply Chain Beats the Virus

When the second plane hit, we all went over to this big window in the office and looked out. In the distance, we could see the smoke from the burning towers just before they collapsed.

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Survival of the Smartest: Making Sure Your Link in the Supply Chain Beats the Virus2022-03-03T10:58:49-05:00

‘Too Small to Fail’ Some Tips for Bars and Restaurants On Weathering the Virus Crisis

If nothing else, the coronavirus, or COVID-19 has made clear just how socially engaged Americans are, human-to-human, despite the purported dominance of the “virtual life” on social media.

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‘Too Small to Fail’ Some Tips for Bars and Restaurants On Weathering the Virus Crisis2022-03-03T10:54:58-05:00