Last night, the Senate passed the Paycheck Protection Program Flexibility Act of 2020 which is designed to loosen the restrictions placed on the original Paycheck Protection Program (PPP). This added legislation provides two major changes. The first relates to extending the original eight-week period of the PPP to 24 weeks that business owners have to […]
In the June issue of Word to the Wise, we include tips on how to be prepared for pandemic tax surprises. Some items to be alert for included a tax bill for unemployment benefits or reporting emergency distributions from a retirement account. Speaking of retirement accounts, think twice before you use your 401K as an […]
On Monday, a warning was published on the Pennsylvania Insurance Department website reminding businesses that choose to reopen too early that many insurance policies contain provisions that exclude coverage from business re-openings that are not in compliance with the governor’s orders. Defying the governor’s orders could be considered illegal acts or conduct under your insurance […]
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We are ending the week on a better note than last. The House passed the Paycheck Protection Program and Health Care Enhancement Act, and President Trump signed the bill earlier today which will add $484B to help small businesses, hospitals and first responders, as well as increase nationwide testing for coronavirus. With news that States are reopening businesses, and […]
It’s a better week for the construction industry in Pennsylvania. On Monday, Gov. Wolf announced construction could resume on May 8th. On Wednesday, Gov. Wolf announced that the date has been moved to May 1st. This news brings much relief during the unprecedented closure of businesses during the COVID-19 pandemic. PennLive.com reported that “specifics were […]
There is a lot of information and misinformation on social media and other outlets regarding loan forgiveness within the CARES Act. There still are many questions that need answers. The President signed H.R.748, The CARES Act, on March 27th. As stated in §1106 Loan Forgiveness, Item (k) Regulations.—Not later than 30 days after the date […]
Good news for the construction industry in Pennsylvania. All public and private residential and non-residential construction projects throughout the state may resume beginning May 8, 2020. Construction will be permitted as authorized by the Governor’s and Secretary of Health’s April 20, 2020, amendments to their business closure orders. Strict compliance orders with impending guidance are […]
News, ideas, and advice to keep you informed and ahead of the curve.
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