As your trusted advisors, Marcum is committed to sharing the best information available concerning coronavirus (COVID-19) to our clients and friends during this time. Below please find up-to-the-minute thought leadership from our Marcum partners for you and your business.
Guidance and Insights
AccountingWEB published a column by Tax Supervisor Dani Stillman, about the regulatory outlook for tax planning.
Bloomberg quoted Tax Partner Barry Halpern in an article about New York State’s aggressive pursuit of nonresident taxpayers who work for New York companies.
NACVA QuickRead published an article by Advisory Services Director Nitasha Giardina, about fraud issues in the hospitality industry post-COVID-19 pandemic.
AccountingWEB published an article by Senior Manager Brandon Blitzer about how green book changes could affect capital gains for hedge fund managers and limited partners.
NYS COVID-19 Pandemic Small Business Recovery Program: Applications Officially Open
Trusted Professional interviewed co-Chief HR Officer Saran Johnson for an article about how accounting firm culture shifted in response to the COVID pandemic.
The United State Supreme Court Will Not Hear New Hampshire v. Massachusetts Regarding Remote Workers
Marcum’s latest article for Construction Accounting & Taxation discusses the outlook for the American Rescue Plan Act of 2021 to help rebuild the country’s infrastructure.
Hartford Business Journal interviewed Tax Partner Amber Monaghan about how any federal tax hikes will affect high net worth taxpayers in Connecticut.
Paycheck Protection Program
Many small business owners have applied for Paycheck Protection Program loans, created under the CARES Act as an incentive for employers to maintain payroll during the COVID-19 pandemic.
If you meet certain requirements under the program, up to 100% of the loan proceeds may be forgiven, and in addition, there will be no income tax implications! Notably, the SBA will fully forgive all loans under the Paycheck Protection Program, provided that all borrower requirements and documentation are met.
SBA Loan Assistance and Business Interruption Claims
In light of the tremendous challenges businesses are facing during the COVID-19 pandemic, Marcum launched a national SBA advisory team to help our clients navigate available financial relief programs. As your trusted advisors we are here to help you quickly determine the best funding option for your business specific needs.
Marcum-Hofstra CEO Survey: Special Coronavirus Issue
Even before statewide lockdowns swept the nation and shuttered most of the U.S. economy, more than half of middle-market CEOs said the spread of coronavirus had disrupted their companies’ production and supply chains, according to the latest Marcum-Hofstra CEO Survey.
The Marcum LLP-Hofstra University CEO Survey found that approximately 56 percent of mid-market CEOs reported production disruptions related to COVID-19. At the same time, the global pandemic has forced many businesses to shut down operations entirely in several international markets, the survey found.
SBA Task Force
Select the region to view contacts.