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.
Total Food Service reported on the Marcum Foundation’s collaboration with BurgerFi to provide free meals to the staff and residents of Eden II group homes for people with autism.
Long Island Press quoted Advisory Partner Richard Izzi in an article about the difficulties faced by small businesses in obtaining forgivable PPP loans.
Webinar: 7 Free Tools to Boost Your Marketing Efforts Despite COVID-19 Budget Cuts
Long Island Business News reported on Marcum’s collaboration with BurgerFi to deliver 20,000 meals to healthcare heroes working on the frontlines of COVID-19.
The Mann Report published an article by Tax Partner James Philbin about relief programs and tax strategies to help commercial real estate owners and developers emerge from COVID-19.
Webinar Recap: Paycheck Protection Flexibility Act Updates to PPP Loan Forgiveness
The Philadelphia Business Journal interviewed Tax Partner Jordan Kendall for a feature story about adjustments to PPP loan terms.
The Philadelphia Inquirer quoted Tax Partner Michael Maksymiw in an article about the new, more liberalized rules for Paycheck Protection Program loans.
Forbes columnist Julie Jason urged readers to register for Marcum’s June 10 webinar on the federal Payment Protection Program.
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.
While our offices are physically closed, Marcum remains open for business. During this period, we are available to you as always.
SBA Task Force
Select the region to view contacts.