Not only has the Corona Aid, Relief, and Economic Security (CARES) Act passed last March injected trillions of dollars into the economy via the Paycheck Protection Program and the economic stimulus payments, it has also made an important, and very beneficial, change to the required mandatory distribution (RMD) law in 2020 for IRAs and defined contribution plans. In June, IRS Notice 2020-51 clarified some open issues.
The Treasury recently released final regulations regarding the application of the deduction for foreign derived intangible income (FDII).
Direct-to-consumer (DTC) brands have flourished in recent years. Many companies, including both well established and insurgent brands, are choosing to bypass intermediary channels and take their product directly to the customer.
Employees Telecommuting Due to COVID-19 Create Potential NYC Unincorporated Business Tax Savings Opportunity
New York City (NYC) imposes unique taxes that often surprise NYC business owners. These include the Commercial Rent Tax and Real Property Transfer Tax.
Under emergency declarations, FEMA’s Public Assistance program is available to reimburse certain Private Non-Profit (PNP) Organizations for eligible emergency protective measures carried out under the direction or guidance of public health officials.
The U.S. Small Business Administration (SBA) released a series of Frequently Asked Questions (FAQs) on loan forgiveness. Issued on August 4, 2020, there are 23 FAQs in all, broken down into four sections.
In addition to the various federal and state loan programs that were created in response to the COVID-19 pandemic, some local jurisdictions have established their own loan and grant programs.
As part of the growing IRS compliance review campaign, there is now a direct focus on high-net-worth individuals, especially those who have formed private foundations and also those with international business activities.
In the last year, a lot of attention has been given to the amount of goodwill on cannabis companies’ balance sheets.
Are the funds from your PPP loan about to run out? Have your operations been crippled by the pandemic? Are you starting to feel pressure from your creditors? Have you thought about restructuring your existing obligations but don’t know where to begin?