Legal

EMPLOYEE SOCIAL SECURITY TAXES TO BE DEFERRED

  On August 8, 2020, President Trump signed an Executive Order, for the Treasury Department to issue guidance related to the deferral of Social Security Taxes, for employees.  The deferral will apply to wages that are paid from September 1, 2020 through December 31, 2020. Not all employees will qualify for the payroll tax deferral.  Read More…

HIGHLIGHTS FROM THE FAQ ON PPP LOAN FORGIVENESS ISSUES BY THE SBA

On August 4, 2020, the U.S. Small Business Administration (SBA), in consultation with the Treasury, released frequently asked questions (FAQs), on the Paycheck Protection Program (PPP) related to PPP Loan Forgiveness. The publication is divided into four sections addressing different aspects of the process to determine how much of their loan is forgivable.   The following Read More…

NJ ECONOMIC DEVELOPMENT AGENCY SMALL BUSINESS EMERGENCY ASSISTANCE GRANTS

On June 9, 2020, the NJEDA began accepting applications for Phase 2 of the Emergency Assistance Grants.  The grants are available for businesses with 25 or less employees.  The NJEA has $45 million dollars available to distribute, as part of the federal CARES Act. The grant will be in the amount of $1,000 per full-time 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…

FEDERAL AID PACKAGE HELPS INDIVIDUALS AFFECTED BY COVID-19

The Families First Coronavirus Response Act (H.R. 6201),  became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. The Act includes up to 80 hours of emergency Read More…

M&A STORIES – HOW TO ‘DEAL’ WITH UNWELCOME SURPRISES

Surprises are rarely good. There are many different emotions that come with the experience of surprise: fear, anxiety, and joy—to name a few.  Deals can also cause the same emotions for a deal maker. Perhaps the booked pipeline was stronger than expected or new management, while unproven in historical results, has the ability to create Read More…

DARLENE SHAFFER PRESENTED WHAT’S YOUR BUSINESS WORTH

Darlene Shaffer, CPA/CFF, CVA, Principal at BKC, CPAs, PC presented “What’s Your Business Worth?” last Wednesday at the Unity Bank Center for Business and Entrepreneurship at our Hunterdon Chamber’s office.  Darlene reviewed the three basic approaches and several methods for valuing business.  She discussed when you will need a business valuation, why a valuation for one Read More…

DARLENE SHAFFER PRESENTING AT 10/23 NJ COLLABORATIVE LAW GROUP

Darlene Shaffer, CPA/ABV/CFF/PFS, CVA, Principal at BKC, CPAs, will be presenting “The Tax Cuts and Jobs Act Legislation Impact on Alimony” at the October 23rd New Jersey Collaborative Law Group’s breakfast meeting hosted by Norris, McLaughlin & Marcus, P.A. This presentation will: Cover significant changes to taxation of alimony effective January 1, 2019 under the Read More…

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