Small business owners, did you know that the federal Employee Retention Credit (ERC) can provide up to $33,000 per employee in tax credits over 2020 and 2021? The National Federation of Independent Businesses (NFIB) created a guide to help businesses receive the tax credit ASAP. To qualify for the ERC in a given 2020 quarter, […]
New York’s Second Quarter Sales Tax Jump Almost 50 Percent
Sales tax revenue for local governments in New York state rose by 49.2 percent in the second quarter (April to June 2021) compared to the same period last year, a dramatic increase from last year’s abysmal collections during the initial wave of the Covid-19 pandemic, according to State Comptroller Thomas P. DiNapoli. Sales tax collections […]
Surging Delta Variant Leads to Economic Concerns
On July 19th, The S&P 500 fell as much as 2 percent and was on pace for its worst drop since mid-May. The Stoxx Europe 600 dropped 2.3 percent, its worst decline this year. In Hong Kong and Japan major indexes had ended the day with a loss of more than 1 percent. In a […]
Outdoor Dining Extended in New York
New York Governor Andrew Cuomo signed legislation that will allow restaurants to utilize municipal spaces such as sidewalks and streets for outdoor dining. First permitted under an executive order, this law allows restaurants to continue using these public spaces for another year as they recover from the economic devastation brought by the Covid-19 pandemic. Restaurant […]
Putting People Back to Work
For the nation to fully recover from the Covid-19 pandemic we need to get more people back to work. In June 2021 there were fewer than 7 million people holding jobs then there were in February 2020, the last month before the pandemic. We are starting to see wages tick up, which is one key […]