What You Need to Know! Client Alert: There are many questions surrounding the upcoming implementation of the Corporate Transparency Act (CTA). We have prepared this outline to guide you through what it is and who needs to comply. We will
In the resolution of business disputes, litigation is often seen as the default option. However, the expense of court, including attorneys’ fees and legal expenses, can be too high for many parties. To address this challenge, businesses turn to alternative
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As Small Business Month continues, it’s important for business owners to consider all aspects of their operation – including the potential for future changes in ownership. That’s where buy sell agreements come in. A buy sell agreement is a legally
Five changes to the Paycheck Protection Program (PPP), the government’s plan for helping small businesses survive the Covid-19 pandemic, were announced yesterday by President Joe Biden. The country’s smallest businesses and business owners of color are celebrating these modifications to
Last week, the SBA released a procedural notice with information regarding the sale (or change of ownership) of small businesses with PPP loans. This may complicate sales of such small businesses. The borrowers must notify their PPP lenders of any
The August 8, 2020 deadline to apply for a Paycheck Protection Program (PPP) loan has passed and loan applications are no longer being accepted. However, the Small Business Administration (SBA) has now opened an electronic portal for processing loan forgiveness
On July 3rd, President Trump signed the PPP Extension Act. The new extension allows for application of PPP loans until August 8th, 2020. As the initial PPP program was set to expire, more than $130 billion of funds were still
The Small Business Administration (SBA) today released a revised PPP loan forgiveness application as part of its implementation of changes made by the PPP Flexibility Act. The SBA has also released a new EZ version of the forgiveness application that
The latest update, in the form of new FAQs, was published by the SBA and Department of Treasury on May 5, 2020. Click here to access the FAQs page. Question 31 provides needed clarification for businesses regarding qualification for necessity
By now you’ve likely seen an article or two referencing the federal assistance available for payroll, rent and business expenses associated with the CARES Act, or the Paycheck Protection Plan. Additionally, COVID-19 is likely going to bring up “acts of
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