The US Small Business Administration (SBA), working with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This streamlines the PPP forgiveness process to provide financial and administrative relief to small businesses. Also, SBA and Treasury have eased the burden on PPP lenders, allowing lenders […]
The State of New York’s Sales Tax
Local governments in New York are heavily dependent on sales tax revenue, which has dried up amid the Covid-19 pandemic and ensuring economic fallout, a report by state Comptroller Thomas DiNapoli found. By the numbers: The taxes collected from the sale of goods and services, and additional taxes on specific services and commodities, are an […]
Wage Theft Prevention Act: Refresher
Way back in 2011, the Wage Theft Prevention Act became law in New York State. The law requires employers to give written notice of wage rates to each new hire and must include: Rate or rates of pay, including overtime rate of pay (if it applies) How the employee is paid: by the hour, shift, […]
The Employee Handbook Can Protect Your Business
Protecting Your Interests, Business, Property & Rights The Employee Handbook is not just a friendly set of guidelines generously compiled for the education of the new employee. The shrewd employee knows that the real purpose of the Handbook is to protect the employer by setting out expectations of employees at the forefront, setting disciplinary policies […]
Recognizing Family Business Conflict
Can you recognize family business conflict? Few people are eager to admit their family has conflict. Especially now that social media reminds us daily that our friends have perfectly harmonious families (!), it can feel like a failure to admit that there are tensions in your family…or worse. Recognizing family business conflict can have an […]