Long Island Business

Partial Plan Terminations: What Employers and Plan Sponsors Should Know

The COVID-19 pandemic has brought so many different concerns to the forefront for employers, whether it be business owners or executive directors, such as PPP Loans, SBA EIDL loans, CARES Act tax credits, unemployment insurance reimbursements and frankly, just keeping...

Payroll Tax Deferral Guidance

On Friday evening, August 28th, 2020, the IRS and Department of the Treasury released Notice 2020-65 providing brief guidance as it relates to the August 8th, 2020 executive order allowing for a potential employee payroll tax deferral. Executive Order Deferring...

Long-Term Property Solutions Amid COVID Pandemic

We’ve spent the last 5 months answering questions for New York City tenants on how to: navigate rent payment solutions and lease restructuring for existing leases, leverage the COVID-19 NYC real estate market for new or renewed leases, and redesign existing spaces amid social distancing and flexible work strategies to optimize reopening.

5 Ways to Reinvigorate Your Business

The whole world has been put on pause because of the COVID pandemic, and for many business owners, the same holds true for their business. We are so bogged down in understanding changing regulations, worrying about CDC guidelines, and getting caught up in the minutia of getting through another COVID quarantine day, that our businesses and our psyche have suffered. Instead of looking at this as another day in the COVID pandemic doldrums, why not use this as a time to try to reinvigorate your business by infusing new energy and strategies.

Making Your Workplace More Caregiver-Friendly

1 in 5 working adults are exhausted — physically, mentally, and financially — as they struggle to manage care for aging, chronically ill, or disabled family members. Despite the prevalence, there is no support or infrastructure to help, and many caregivers risk their careers, personal well-being, and finances to help manage care.

Executive Order Issued Deferring Payroll Taxes for Employees and Poses Huge Questions for Employers

After failing to find a compromise on a new stimulus package by the self-imposed deadline of August 7th, 2020, President Trump issued a new executive order on Saturday August 8th that would defer the withholding of employee payroll taxes. The executive order presents many immediate questions and challenges for employers and it is also likely to face several political challenges over the next few weeks.

“New” SBA FAQ on Loan Forgiveness Released

For weeks, since the last update in June 2020, there have been rumors and reports in professional circles regarding the SBA releasing a new or updated FAQ with around 30 questions that would assist borrowers in their forgiveness calculations. The SBA posted a new update on August 4, 2020 that is believed to be this massive promised update.

PPP, HHS and other COVID Stimulus Quick Updates

After the initial passing of the CARES Act and subsequent extensions there were daily and sometimes hourly changes to report. In the past 6 weeks it has largely been quiet with few new or major noteworthy updates for organizations and businesses. However, there are a...

FBI Alert: Unemployment Insurance Fraud Rising due to COVID-19 Claims

The FBI is warning the public to be on the lookout for unemployment benefits fraud. A significant spike has been seen due to COVID-19 related claims filed using stolen identities.

Reopening Your Business During COVID-19

We are all anxiously awaiting reopening our doors and returning to some sense of normalcy. However, it is important to follow the mandatory guidelines to ensure you are safely and legally reopening. In addition to following the limitations of openings established by the state-specific Phases, there are explicit guidelines established for each industry.

IRS Extends Tax Deadline to May 17th, 2021 for individuals

IRS Extends Tax Deadline to May 17th, 2021 for individuals

The IRS announced on March 17, 2021 an extension of the INDIVIDUAL tax filing deadline from April 15th, 2021 to May 17th, 2021. This extension comes on the eve of IRS Commissioner Rettig testifying before congress regarding the 2021 filing season and after several...

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Microsoft Excel Tips & Tricks

Microsoft Excel Tips & Tricks

Microsoft Excel is a dynamic analysis tool that has become a major part of our business environment. It is estimated that around 89% of companies utilize Excel in the operations of their businesses, but very few are using it to its fullest potential. Excel is such a...

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Automating Back Office Functions

Automating Back Office Functions

As the past year has taught us, now more than ever, businesses need to be adaptable and able to change operations on a dime; finding new ways to be effective in remote environments and create operating efficiencies by automating ordinary day-to-day business functions....

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COVID Pivot

COVID Pivot

2020 will go down in history as the year the world was put on pause. The Coronavirus pandemic changed the way we live, the way we recreate, the way we do business, and the way we socialize. For many businesses, it was a death knoll, and even with some level of PPP and...

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Virtual Workplace

Virtual Workplace

Due to the recent challenges brought on by the pandemic, many offices have shifted from the traditional brick and mortar workplace to complete remote work environments. For some, this was a manageable transition, but for others it was a completely new and unfamiliar...

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