SBA | Cg Tax, Audit & Advisory

26 May

NJEDA Announces Expansion of Grant Program For Businesses Affected by Coronavirus

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May 26, 2020

The New Jersey Economic Development Authority (NJEDA) announced a $50 million expansion of its Small Business Emergency Assistance Grant Program that provides funding to small businesses facing financial challenges as a result of Coronavirus....

18 May

SBA

SBA Guidelines on PPP Loans

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May 18, 2020

The Coronavirus Aid, Relief and Economic Security (CARES) Act created the Paycheck Protection Program (PPP) to help employers cover payrolls during the COVID-19 pandemic. The U.S. Small Business Administration recently released important guidelines on...

11 May

SBA

The IRS Clarifies the Deductibility of PPP-Funded Expenses

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May 11, 2020

The IRS has issued new guidance addressing a question that has lingered since the launch of the Paycheck Protection Program (PPP) — whether expenses paid for with forgiven, tax-free PPP loan proceeds are deductible...

07 May

SBA

SBA Extends the PPP Repayment Deadline For Self-Certification

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May 7, 2020

The Small Business Administration (SBA) has extended the repayment deadline for Payroll Protection Program (PPP) borrowers that wish to take advantage of the “good faith” self-certification of eligibility option. The deadline is now automatically...

04 May

SBA

Paycheck Protection Program Guidance From the IRS

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May 4, 2020

Will Tax Deductible Expenses Be Derived With the Use of PPP Funds Forgiven? The Internal Revenue Service (IRS) released Notice 2020-32 regarding certain deductible expenses through the Paycheck Protection Program (PPP). Per the IRS, "This notice...

01 May

SBA

AICPA PPP Recommendations & Guidance

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May 1, 2020

As many businesses continue to feel the economic impacts of the Coronavirus pandemic, many are applying for the Paycheck Protection Program (PPP), designed to provide quick access to cash that can help employers keep...

22 Apr

Coronavirus Stimulus Bill, Federal Tax, SBA

Senate Passes COVID-19 Relief Package

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April 22, 2020

The U.S. Senate has passed a $484 billion bill that will expand small business aid and provide needed funds for hospitals and novel Coronavirus (COVID-19) testing. Specifically, the deal allocates $310 billion to replenish...

10 Apr

Coronavirus & Nonprofits, SBA

Surviving the COVID-19 Crisis: A Nonprofit Action Plan

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April 10, 2020

Although most nonprofits have been hurt by the Coronavirus (COVID-19) pandemic, your organization’s specific challenges probably depend on your mission, constituency and other factors. For example, social distancing rules have forced most arts organization...

10 Apr

SBA

Emergency Funding to Offset Coronavirus Impacts on Your Business

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April 10, 2020

Many businesses are feeling the economic impact of the Coronavirus pandemic. You may be able to receive help through the U.S. Small Business Administration loans, especially the Paycheck Protection Program (PPP), designed to provide...

10 Apr

SBA

NJEDA Small Business Emergency Assistance Loan Program Application Available Monday, April 13 at 9:00 AM

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April 9, 2020

This is an important reminder that the New Jersey Economic Development Authority's (NJEDA) Small Business Emergency Assistance Loan Program applications open on Monday, April 13 at 9:00 am ET. The application will be available here...

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