As part of the Fiscal Year 2023 New York State Executive Budget legislation, $1.2 billion in funding has been allocated for the payment of bonuses for certain frontline healthcare workers. This was made available to recognize the efforts of the health care and mental hygiene...
This upcoming year will be the first full year of the New York State Pass-Through Entity (PTE) Tax and there are new procedures that need to be considered. If you are interested in more information from when this was first introduced, please read our previous...
New York State Pass-Through Entity Tax Under the Tax Cuts and Job Act that was passed in 2017, each individual taxpayer was limited to $10,000 of State and Local Taxes (“SALT”) to be allowed as an itemized deduction on their personal Federal tax return. Since then,...
The Office of the New York State Attorney General Charities Bureau issued guidance for conducting virtual meetings of members of New York Not-for-Profit Corporations. You can read their bulletin here: https://www.charitiesnys.com/pdfs/charitiesbureauguidance.pdf ...
One of the struggles many employers are facing surround employees who are refusing to return to work. The SBA has addressed this issue in their most recent FAQ dated May 4, 2020: Question: Will a borrower’s PPP loan forgiveness amount (pursuant to section 1106 of the CARES...
COVID-19 Employee Assistance: What Else Can Businesses Do To Help Their Employees? Employer-Provided Tax-Free Disaster Relief Benefits On March 13, 2020, President Trump enacted the Robert T. Stafford Disaster Relief and Emergency Assistance Act, authorizing him to declare the COVID-19 epidemic a national emergency. By doing so, he...
Update from New York State Department of Labor: We've launched a new streamlined application for New Yorkers to apply for PUA without having to first apply for UI. If you previously filed for UI and filled out a standalone PUA application, you do NOT need to file...
Facebook is offering $100M in cash grants and ad credits to help with the Covid19 crisis. Up to 30,000 eligible small businesses in more than 30 countries where we operate will be able to receive the grant. To be eligible to apply, you must: Be a...
The US Chamber of Commerce has launched the “Save Small Business Grant Fund”. Funded by contributions from corporate and philanthropic partners, the program provides $5,000 supplemental grants for small employers with 3 to 20 employees in economically affected areas. This program will open TODAY (April 20, 2020)...
What Businesses Need to Know About Loan Forgiveness Established under the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Payroll Protection Program (PPP) allocated $349 billion in forgivable loans to small businesses in order to pay their employees during the COVID-19 crisis. While the SBA’s...
