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OPERATING COST REDUCTION STRATEGIES TO CONSIDER DURING CRISIS MANAGEMENT AND RECOVERY

By Ross Forman In the midst of the COVID-19 crisis, operational challenges are among the top sources of pressure for businesses. Unforeseen costs, disruptions in services and, for most organizations, significant material hits to revenue are top of mind as you navigate new issues related to maintaining facilities and business functions. For these reasons, identifying and Read More…

CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT: MANUFACTURING IMPACTS

On Friday, March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act), a $2 trillion stimulus package intended to help mitigate the economic devastation caused by the novel coronavirus (COVID-19). The stimulus is good news for manufacturers, many of whom are struggling given the current economic Read More…

HOW MANUFACTURERS CAN NAVIGATE THE NOVEL CORONAVIRUS’ SUPPLY CHAIN IMPACTS

By Jeff Pratt, Sean Murphy The novel coronavirus (otherwise known as COVID-19) crisis has struck a serious blow to the manufacturing industry, which was already battling trade policy turbulence, a slowdown in global manufacturing growth and broader economic uncertainty. The virus’ disruptive impacts are rippling throughout global manufacturing supply chains, particularly in the auto sector. Automakers rely Read More…

SMALL BUSINESSES: ACT NOW TO TAKE ADVANTAGE OF SBA LOANS AND PAYROLL TAX INCENTIVES

Background In light of the novel coronavirus (COVID-19) global pandemic, many small-to-medium sized businesses are struggling to manage revenue losses amid prolonged economic uncertainty. To offset the pandemic’s financial impacts, Congress has passed several stimulus bills, including the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes provisions Read More…

NJ EXTENDS INCOME TAX FILING DEADLINE TO JULY 15TH FOR INDIVIDUAL, PARTNERSHIP AND CORPORATION BUSINESS TAXES

On April 14th Governor Murphy signed into law a bill that provides New Jersey taxpayers a three-month extension to pay and file their state individual gross income, partnership, and corporation business taxes.   According to the office of New Jersey Governor Phil Murphy, the New Jersey income tax deadline will now be July 15, 2020 to Read More…

SBA DISASTER ASSISTANCE IN RESPONSE TO THE CORONAVIRUS – LOW-INTEREST LOANS

In response to the novel coronavirus (COVID-19) pandemic affecting the small business community across the country, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury. Substantial economic injury means the business is unable to meet its obligations and to pay its ordinary Read More…

BREAKING DOWN SECTION 4001 OF THE CARES ACT

On March 27, Congress passed the $2 trillion “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) in order to provide “emergency assistance and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic.” The largest rescue package in American history, this historic piece of legislation includes a number of programs designed to offset the Read More…

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