A dependent care FSA is a pretax benefit account used to pay for services such as day care, preschool, summer camps, and before or after-school programs. Funds may be used for expenses relating to children who are under the age of 13 or incapable of...
The PPP Extension Act of 2021 passed in the U.S. Senate yesterday and is expected to be signed into law by President Biden. The bill extends the Paycheck Protection Program (PPP) application deadline from March 31, 2021 to May 31, 2021. The bill will also...
California employers must provide employees with up to 80 hours of COVID-19 supplemental paid sick leave for eligible employees, including those advised to quarantine or isolate, those caring for COVID-impacted family members, or employees receiving the COVID-19 vaccination....
The American Rescue Plan Act (ARPA) does not require Families First Coronavirus Response Act (FFCRA) paid and emergency family leave, but does extend and expand the tax credits for employers. ARPA extends these tax credits through September 30, 2021....
New Jersey and New York have extended the filing deadline to May 17, 2021, following the IRS. Only a small number of states have not extended their filing deadline. First quarter estimated taxes are still due on April 15th....
New York State employers must provide employees with up to four hours of paid time off per COVID-19 vaccination. The law takes effect immediately and ends on December 31, 2022....
President Joe Biden signed into law the latest round of COVID-19-related legislation. The American Rescue Plan Act is intended to provide additional relief to workers and employers through tax credits, expanded federal unemployment benefits, and additional small-business aid....
The U.S. Small Business Administration (SBA) issued new Paycheck Protection Program (PPP) rules that allow self-employed individuals who file Form 1040, Schedule C, Profit or Loss From Business, to calculate their maximum loan amount using gross income instead of net profit....
Any business expenses paid using proceeds from PPP loans will remain deductible for the 2020 tax year. Related expenses paid for with PPP loan proceeds will be deductible for both Gross Income Tax (GIT) and Corporation Business Tax (CBT) purposes, and forgiven loans will be...
The New Jersey Economic Development Authority (NJEDA) will open pre-registration for Phase 2 of the Small Business Emergency Assistance Loan Program on Wednesday, February 10, at 9 am. The $10 million program expansion will support New Jersey small businesses and nonprofits impacted by the COVID-19...
