Construction

EMPLOYERS – ARE YOU LEAVING MONEY ON THE TABLE?

2020 was a very bad economic year for many businesses.  Quite often when you hear the phrase, “I’m from the government and I’m here to help”, the common response would be, yeah right!  But 2020 was quite different.  Congress enacted several pieces of key legislation that greatly helped many small to mid-size businesses. Under the Read More…

NEW YORK STATE ENACTS ITS OWN PASS-THROUGH ENTITY TAX

Governor Cuomo signed the New York State Fiscal Year 2021-2022 budget bill on April 19, 2021. Included in this bill is New York State’s version of a pass-through entity (PTE) tax. New York is the final state in the tri-state area to pass such legislation. Similar to New Jersey’s version, eligible entities need to make Read More…

DEADLINE EXTENDED FOR PPP LOAN APPLICATIONS

The U.S. Senate passed legislation (PPP Extension Act of 2021) on March 25, 2021 that provides a 60-day extension for eligible employers to apply for a Paycheck Protection Program (PPP) loan. The House of Representatives approved the legislation on March 16, 2021. The application deadline was set to expire on March 31, 2021, but now Read More…

NEW JERSEY ECONOMIC RECOVERY ACT OF 2020

On January 7, 2021, Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020. The law provides for the administration of programs and policies related to jobs, property development, food deserts, community partnerships, small and early-stage businesses, among others. In an effort to bolster development, the Economic Recovery Act creates, among other things, Read More…

EMPLOYEE RETENTION CREDIT – WHAT’S NEW

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law.  The CAA, 2021 Act greatly expanded the Employee Retention Credit (ERC).  The credit is now available to more businesses and extends the date for wages paid through June 30, 2021. Under the CARES Act, the ERC was available to qualified Read More…

PPP LOANS ROUND 2

Congress expanded the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act with the passage of the Consolidated Appropriations Act on December 27, 2020. The Consolidated Appropriations Act also clarifies the deductibility of certain expenses paid for with funds from a loan under PPP and tax impact on income Read More…

NJ GOV. SIGNS EXECUTIVE ORDER CREATING NEW WORKPLACE MANDATES

New Jersey Governor Phil Murphy signed Executive Order 192 on October 28th, which makes effective November 5, 2020, new COVID-19 related health and safety mandates for employers.  The order states that every business, school, nonprofit and governmental office require any employee, customer or visitor who is physically present to undergo a daily health screening, maintain Read More…

R&D TAX CREDIT FAQS FOR LARGE AND SMALL BUSINESSES

The federal R&D tax credit benefits large and small companies in nearly every industry. Common questions and answers related to the R&D tax credit and those specific to small businesses are outlined below. What is the R&D tax credit? Created in 1981 to stimulate research and development (R&D) in the United States, the R&D tax credit is Read More…

HOW TO PLAN FOR SUCCESSION: PRESERVING, PROTECTING, AND PASSING ON WEALTH

Transitioning Ownership The decisions made regarding ownership of the family office or closely held business may not necessarily be the same decisions that are required for leadership and management. It’s critical to understand and acknowledge the different elements that proper succession planning entails. The family wealth enterprise has three interconnected circles of participation—the family members, Read More…

THE GREAT EXPERIMENT: REMOTE WORK AND THE NEW REALITY OF REAL ESTATE

There’s no question the global pandemic of 2020 quickened trends of the future that were hitting the wall of the present: Employers resistant to allowing employees to work remotely suddenly had no choice as localities enacted mandatory stay-at-home measures. Businesses migrated to remote work on an unprecedented scale – a great experiment, the ripple effects of which are many for real estate.  As parts of the business world adjust to working from home, some are finding multi-year office Read More…

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