Firm Insights

Does the “Economic Aid to Hard-Hit Businesses, Nonprofits, and Venues Act” Actually Soften Any Blows?

By Michelle F. Schwerin / January 9, 2021 / Comments Off on Does the “Economic Aid to Hard-Hit Businesses, Nonprofits, and Venues Act” Actually Soften Any Blows?

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Act”, which Congress passed on December 21, and President Trump signed into law on December 27), is designed to provide a second round of financial support for businesses and independent contractors after the devastating economic impact of COVID-19. But will this expanded program actually benefit…

Read More

The 11th Hour: Tax Planning for the Final Days of 2020

By L. Ross Gaddis / December 30, 2020 / Comments Off on The 11th Hour: Tax Planning for the Final Days of 2020

If there is one word that can describe tax planning for a broad cross-section of America this year, it would be “hesitant.” Let me assure you it’s completely understandable – tax planning can mean spending money now to take advantage of a deduction, credit, or exclusion for the current tax year. Considering many businesses and…

Read More

We’re Back…And so is the Government with Another Round of PPP and EIDL Funding

By Michelle F. Schwerin / December 24, 2020 / Comments Off on We’re Back…And so is the Government with Another Round of PPP and EIDL Funding

Late in the evening of Monday, December 21, 2020, Congress passed the Consolidated Appropriations Act—a holiday gift to the tune of $900 billion—which contains the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. For businesses and independent contractors that considered or participated in The CARES Act programs, this new law looks like a…

Read More