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.
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.
The Mann Report published an article by Director Robert Johnson in the February finance issue, about the discharge of qualified real property business indebtedness (QRPBI).
McKnight’s Long-Term Care News reported on Marcum’s annual benchmark analysis of nursing home performance.
AccountingWEB republished a tax flash by Principal Michael D’Addio, explaining what to know about President Biden’s American Rescue Plan.
Chairman & CEO Jeffrey Weiner appeared on Cheddar TV to talk about market highlights and the earnings outlook for the start of 2021.
Forbes published the latest column from Food & Beverage Leader Louis Biscotti, about the rise of healthy foods at supermarkets.
Arts and Culture: What Does the Collections Accounting Standard Model Mean for Your Organization?
CNBC quoted Principal Michael D’Addio in an article about steps to take if you are the victim of a fraudulent unemployment benefits claim leading to federal taxes due.
Additional COVID-19 Tax Relief: Extended and Modified Employee Retention Tax Credit Favors Businesses
Hartford Business Journal quoted Partner Michael Brooder in an article about the surge in venture capital investing in Connecticut.
Construction Accounting & Taxation published the latest article by Construction Leader Joseph Natarelli and Chief Construction Economist Anirban Basu, about why President Biden is likely to be positive force for the construction industry.
New Haven Biz quoted Tax Partner Michael Maksymiw in an article about PPP2, the new round of Paycheck Protection Program funding for small businesses.
News Center Maine Channel 6 TV interviewed Tax Partner Eric Purvis to answer viewers’ questions about 2020 tax filings.
Bloomberg News quoted Tax Partner Jordan Kendall in an article about novice day traders caught unaware about the tax implications of their investing activity.
Chairman & CEO Jeffrey Weiner appeared on Cheddar TV to discuss what’s moving the markets and prospects for the stimulus package and capital gains taxes.
Forbes columnist Julie Jason quoted Tax Partner Thomas Filomeno about how to report non-taxable RMDs and coronavirus-related distributions in 2020.
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.
Like many of you, Marcum’s entire team is working remotely for now, as we take every step possible to protect the health and safety of our workforce and their families in these unprecedented times.
SBA Task Force
Select the region to view contacts.