On October 20, 2021, the Economic Development Authority (NJEDA) will open applications for the new Small Business Improvement Grant Lease Program. This is the first of several programs that the NJEDA will be rolling out, as part of the Main Street Recovery Program. $10 million dollars has been allocated to the Business Lease Program, with Read More…
On October 20, 2021, the Economic Development Authority (NJEDA) will open applications for the new Small Business Improvement Grant Lease Program. This is the first of several programs that the NJEDA will be rolling out, as part of the Main Street Recovery Program. $15 million dollars has been allocated to the Business Lease Program, with Read More…
On September 8, 2021, the SBA announced major changes to the Economic Injury Disaster Loan (EIDL) Program. New COVID EIDL policy changes include the following: Maximum loan cap increased from $500,000 to $2 million Use of funds was expanded to include payment and pre-payment of business non-federal debt incurred at any time (past or future) and Read More…
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…
On Monday December 21, the House and Senate approved $900 billion in relief for individuals and businesses affected by the coronavirus pandemic. President Trump is expected to sign the bill into law on Tuesday December 22nd. Highlights of the new legislation are as follows: A refundable tax credit of $600 for single taxpayers, $1,200 for Read More…
Governor Phil Murphy announced on October 12th that $112 million in aid, that the State of New Jersey received from CARES Act money, is being made available to provide grants to small businesses and help support struggling individuals with rental and mortgage assistance payments. $70 million of the funds will be distributed by the State’s Read More…
By Carla DeMartini, CPA Due to its mission-driven purpose, a nonprofit organization’s financial and operational sustainability is significantly impacted by its environment. Natural disasters, economic slowdowns and unforeseen events are just a few factors that can adversely affect nonprofit organizations. That is why a strong internal control system has always been a priority for audit Read More…
Governor Murphy’s proposed 18/19 budget message was released March 15, 2018. It calls for an increase in State “formula” aid for school districts by $283.6 million. Under this funding plan, more than 94% of districts will receive additional state aid and no districts would see a decrease in aid. A summary of the Governor’s funding Read More…
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