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.
Long Island Business News quoted Office Managing Partner Carolyn Mazzenga in an executive outlook for business in 2021.
The Philadelphia Business Journal quoted Tax Partner Jordan Kendall in an article about the second wave of stimulus funding.
The Legal Intelligencer published an article by Advisory Director Heather Wilson, about a likely increase in employee embezzlement during the pandemic and how to minimize it.
Chairman & CEO Jeffrey Weiner appeared on Nasdaq Trade Talks to discuss the outlook for small businesses in 2021 and the prospects for tax changes under the Biden Administration.
California Apparel News quoted Retail Group Co-leader Ronald Friedman about outlook for the last days of the 2020 holiday shopping season.
Equipment World covered Marcum’s year-end tax seminar for contractors, highlighting six tax breaks construction companies should consider before year-end.
Construction Demolition & Recycling reported on the Marcum Commercial Construction Index for the third quarter, which found that losses in construction jobs were rebounding.
The Hartford Business Journal published an article by Tax Principal Michael D’Addio and Partner Michael Maksymiw about key 2020 federal business tax changes.
Engineering News-Record quoted Partner Warren Hennagin in an article about how some companies boosted their finances under the federal Main Street Lending Program.
Long Island Business News leveraged the latest Marcum-Hofstra CEO Survey to talk with regional business leaders about priorities for 2021.
Bloomberg News quoted Tax Principal Michael D’Addio in an article about the expiration of COVID-19 tax breaks at the end of 2020.
Surety Bond Quarterly published an article by Director James Wiedemann and Senior Jake Amoroso, about the impact of COVID-19 on the construction industry.
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.