General News

Don’t Risk Loan Forgiveness with Sax’s PPP & PRF Advisory Services for the Healthcare Industry

Don’t Risk Loan Forgiveness with Sax’s PPP & PRF Advisory Services for the Healthcare Industry 400 400 SAX - Advisory, Audit and Accounting

Your healthcare practice is on the road to recovery and you can start to see the light at the end of the tunnel.  Now you need to turn your attention…

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BIDEN-HARRIS ADMINISTRATION ANNOUNCES CHANGES TO THE PPP GEARED TOWARDS SMALLER BUSINESSES

BIDEN-HARRIS ADMINISTRATION ANNOUNCES CHANGES TO THE PPP GEARED TOWARDS SMALLER BUSINESSES 400 400 SAX - Advisory, Audit and Accounting

In an effort to target smaller businesses, the Biden-Harris administration announced changes to the Paycheck Protection Program (PPP).  From Wednesday, February 24, 2021 – March 10, 2021, businesses with 20…

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STATE INCOME TAX TREATMENT OF PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS AND EXPENSE DEDUCTIONS

STATE INCOME TAX TREATMENT OF PAYCHECK PROTECTION PROGRAM LOAN FORGIVENESS AND EXPENSE DEDUCTIONS 400 400 SAX - Advisory, Audit and Accounting

As a reaction to the economic conditions of the COVID-19 pandemic, the federal government has established a series of relief packages for businesses, including the Paycheck Protection Program (PPP). 

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DON’T LEAVE MONEY ON THE TABLE! Employee Retention Credit Now Available to PPP Loan Recipients

DON’T LEAVE MONEY ON THE TABLE! Employee Retention Credit Now Available to PPP Loan Recipients 400 400 SAX - Advisory, Audit and Accounting

Due to legislation passed in late December 2020, eligible employers with a Paycheck Protection Program (PPP) loan can now claim the employee retention credit (ERC) when they previously could not.

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NJEDA Defers Pre-Registration Date for Phase 2 of the Small Business Emergency Assistance Loan Program

NJEDA Defers Pre-Registration Date for Phase 2 of the Small Business Emergency Assistance Loan Program 400 400 SAX - Advisory, Audit and Accounting

The New Jersey Economic Development Authority (NJEDA) recently announced that the date for pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program, which was originally scheduled to…

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IRS Extends Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic

IRS Extends Additional Relief for Qualified Opportunity Funds and Investors Affected by Ongoing Pandemic 400 400 SAX - Advisory, Audit and Accounting

Quick Recap On the evening of January 19, the IRS issued Notice 2021-10 that provides additional relief by extending certain deadlines for investing in Qualified Opportunity Funds (“QOFs”) and relaxed…

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SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS

SBA RELEASES REVISED PPP LOAN FORGIVENESS APPLICATION FOR BORROWERS WITH LOANS OF $150,000 OR LESS 400 400 SAX - Advisory, Audit and Accounting

On January 19, 2021, the Small Business Administration (SBA) released the revised Form 3508S for First Draw and Second Draw Paycheck Protection Program (PPP) borrowers seeking forgiveness on loans of…

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SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers

SBA and Treasury Issue Guidance for First Draw and Second Draw PPP Borrowers 400 400 SAX - Advisory, Audit and Accounting

With the recent re-opening of the Paycheck Protection Program (PPP) portals for all borrowers, the Small Business Administration (SBA), in conjunction with the U.S. Treasury Department, has been busy issuing…

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SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19

SBA WILL RE-OPEN PPP TO SMALL LENDERS ON JANUARY 15 AND ALL LENDERS ON JANUARY 19 150 150 SAX - Advisory, Audit and Accounting

On January 13, 2021, the Small Business Administration (SBA) and U.S. Department of Treasury announced that the Paycheck Protection Program will re-open its portal for eligible lenders to apply for…

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SBA Extends EIDL Program to December 31, 2021

SBA Extends EIDL Program to December 31, 2021 400 400 SAX - Advisory, Audit and Accounting

On December 30, 2020, the Small Business Administration (SBA) extended the deadline to apply for Economic Injury Disaster Loans (EIDLs) from December 31, 2020 to December 31, 2021, pending the…

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SAX - Advisory, Audit and Accounting