In times of great uncertainty, there is power in knowledge and preparation. In response to the coronavirus (COVID-19) outbreak throughout the United States and beyond, we’ve assembled industry experts to give you guidance and solutions to combat the ramifications on your business.
Continue to visit the Friedman COVID-19 Resource Center for breaking coverage and tactics to inform your financial decision making.
June 16, 2021 [NEW] Retail’s New Look in 2021
As shoppers resume traditional in-person dining and shopping, the question becomes: Which shopping behaviors developed during the pandemic will have a long-term shelf life?
May 25, 2021 [NEW] Maximizing Your Tax Benefit in a Remote Working Environment
An individual is subject to tax on all of their income by the state in which they are domiciled. Due to successful remote work over the course of the pandemic, workers are seeking to change their domicile to a more tax-friendly state.
April 22, 2021 Employer Tax Credits for Paid Time Off for Employees to Get Vaccinated
The American Rescue Plan Act of 2021 made some tweaks to the Emergency Paid Sick Leave Act to include COVID-19 testing or immunization as qualified sick leave wages. Eligible employers are entitled to tax credits for employee wages paid for leave due to reasons related to COVID-19.
April 22, 2021 Restaurant Revitalization Fund Begins Roll Out
The Small Business Administration (“SBA”) has begun releasing information on the launch of the Restaurant Revitalization Fund (“RRF”). Similar to the Shuttered Venue Operators Grant (“SVOG”), the RRF will provide grants to food service businesses with up to 20 locations.
March 26, 2021 PPP Deadline Extended - You Still Have Time to Apply
Prepare your business for significant dates surrounding Paycheck Protection Program loan applications, Shuttered Venues Operator Grants and Restaurant Revitalization Fund Grants to determine the most effective course of action for you and your business.
March 24, 2021 [Webinar Recording] American Rescue Plan
Access this powerful recording where our experts unpack key provisions of the newly released IRS Employee Retention Credit guidance and the new stimulus bill, the American Rescue Plan Act of 2021.
March 15, 2021 Initial Impressions of the American Rescue Plan Act of 2021
The American Rescue Plan Act of 2021 (the “Act”) is the most extensive COVID relief bill yet. It’s provisions are intended to boost the economy, increase availability of COVID-19 vaccines and other emergency medical supplies, and assist schools, health centers and state and local governments in their recovery efforts.
March 10, 2021 What’s New with The Paycheck Protection Loan Program?
While we were all busy watching the IRS try to pivot for the changes to the Employee Retention Credit, the Small Business administration ("SBA") was making some changes of its own to the Paycheck Protection Loan Program (“PPP”). The reason for the change in this case is the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act”), otherwise known as Title III of Division N of the Consolidated Appropriations Act, 2021 (“CAA”).
March 8, 2021 IRS Issues New Employee Retention Guidance…Sort Of
In December, Congress passed the Taxpayer Certainty and Disaster Tax Relief Act of 2020 (the “Relief Act”) which was enacted as Division EE of the Consolidated Appropriations Act, 2021 (“CAA”). Among its many beneficial provisions, the Relief Act repealed the restriction in the Coronavirus Aid, Relief, and Economic Security Act (the ‘‘CARES Act”) preventing borrowers under the Paycheck Protection Program (“PPP”) from claiming the Employee Retention Credit (“ERC”).
February 26, 2021 Consolidated Appropriations Act, 2021 Provides Benefits to the Real Estate Industry
The Consolidated Appropriations Act, 2021 (the "Act"), passed on December 27, 2020, included a $2.3 trillion spending bill to provide additional COVID-19 relief and provide funding for the government for the next fiscal year. The Act includes potential tax savings opportunities and incentives for real estate owners, developers and investors.
February 26, 2021 Five Expert Ways to Optimize Your Financial Position When You’re in Debt: Special COVID-19 Edition
Commercial real estate and the commercial mortgage-backed securities (CMBS) market have seen an increase in delinquencies from 2.29% in April of 2020 to 7.58% in January of 2021. An additional 9.72% of loans are under special servicer arraignments up from 2.78% a year earlier.
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