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 […]
It’s been a whirlwind week. Payroll Protection Program Loans are getting finalized and the traditional Tax Day came and went. We have new projects to focus on: the July 15th deadline and PPP Loan compliance. We will also have a focus on assisting businesses with cash flow management and budgeting in the challenging times ahead. […]
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result […]
News, ideas, and advice to keep you informed and ahead of the curve.
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