Our attorneys have been actively working to complete existing estate planning projects, but we are also available to take on new estate planning matters. In addition to those who have contacted our office because of concerns that the COVID-19 coronavirus raises, our attorneys have been contacted by clients who want…
Category: CS Blog
Under the CARES Act, several types of loans were made available to business owners. The loan program which has generated the greatest discussion (and controversy) is known as the Paycheck Protection Program (“PPP”). The PPP loan was designed to aid businesses which might be imperiled by the Covid-19 Coronavirus. With…
A few weeks ago, we wrote about how the dramatic reduction in interest rates presented planning opportunities. Each month, the IRS announces the minimum interest rate required to be charged for loans in order to avoid a gift (known as the applicable federal rate). This rate is determined based upon…
The CARES Act provides for expanded distribution options and favorable tax treatment for up to $100,000 of coronavirus-related distributions from an eligible retirement plan (e.g., 401(a), 401(k), 403(b), and 457 plans), and IRAs to qualified individuals, as well as special rollover rules with respect to such distributions. A coronavirus-related distribution…
Following the 8-week period ends from the date a PPP loan is disbursed, a borrower must actually petition the SBA for forgiveness of the loan. The SBA has just published the PPP Forgiveness Application and Template. You can also visit sba.gov for additional Small Business Guidance & Loan Resources.
