May 23, 2020
Wayne Naegele
Blog Posts
0 CommentsNew York Forward Loan Fund (NYFLF) May 22, 2020 Dear Clients, Colleagues and Friends, Presti & Naegele continues to monitor the latest COVID-19 developments that impact our clients. Below is information we believe may be useful to you. New York Forward Loan Fund New York Forward Loan Fund (NYFLF) is a new economic recovery loan […]
Read moreMay 19, 2020Wayne NaegeleBlog Posts0 CommentsPPP Loan Forgiveness Application and Main Street Lending Program May 19, 2020 Dear Clients, Colleagues and Friends, Presti & Naegele continues to monitor the latest COVID-19 developments that impact our clients. Below is information we believe may be useful to you. Paycheck Protection Program (PPP) Loan Forgiveness Application The Small Business Administration (SBA) stated on […]
Read moreApril 22, 2020Wayne NaegeleBlog Posts0 CommentsSenate Passes $484B Coronavirus Relief Package to Help Small Businesses, Hospitals, and to Expand Testing April 22, 2020 Dear Clients, Colleagues and Friends, After nearly two weeks of negotiations, the Senate has passed an additional COVID-19 relief package worth $484 billion. Highlights of the bill include an additional $310 billion in funding for the Paycheck Protection Program […]
Read moreApril 04, 2020Wayne NaegeleBlog Posts0 CommentsNYS Updates Re: Health Insurance and Unemployment Insurance April 3, 2020 Dear Clients, Colleagues and Friends, Governor Andrew M. Cuomo announced that through June 1, 2020, consumers and businesses experiencing financial hardship due to COVID-19 may defer paying premiums under individual and small group commercial health insurance plans. Following the Governor’s announcement, the New York […]
Read moreApril 03, 2020Wayne NaegeleBlog Posts0 CommentsIMPORTANT – DEADLINE FRIDAY 04/03/2020 – NYC Employee Retention Grant Program April 1, 2020 Dear Clients, Colleagues and Friends, The NYC Employee Grant Program is an immediate response to small businesses affected by the COVID-19 outbreak and was put in place to provide services for businesses with one to four employees that can demonstrate at […]
Read moreMarch 25, 2020Wayne NaegeleBlog Posts0 CommentsCOVID-19 Guidance for Businesses, Employers, and More March 25, 2020 Dear Clients, Colleagues and Friends, We are rapidly reviewing federal and local guidance to provide you with tools to structure your responses in this rapidly changing environment. Here is some information to immediately assist employees impacted by the COVID-19 pandemic, including qualified disaster relief payments. […]
Read moreJanuary 20, 2020Wayne NaegeleBlog Posts0 CommentsFinal and Proposed Regulations Address Foreign Tax Credit The IRS has issued highly anticipated final regulations on the significant changes made to the foreign tax credit rules by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). The final regulations retain the basic approach and structure of the 2018 proposed regulations ( NPRM REG-105600-18). […]
Read moreOctober 10, 2019Wayne NaegeleBlog Posts0 CommentsAdvance Payment Proposed Regulations Released Proposed regulations provide rules for accrual method taxpayers who receive advance payments. The proposed regulations include provisions affecting both taxpayers both with and without applicable financial statements (AFS), and describe and clarify the statutory requirements of Code Sec. 451(c). Similar to Rev. Proc. 2004-34The proposed regulations include many provisions similar […]
Read moreMay 16, 2019Wayne NaegeleBlog Posts0 CommentsProposed Reliance Regs Address Qualified Opportunity Funds, Zones and Businesses Proposed regulations address gains that may be deferred when taxpayers invest in a qualified opportunity fund (QOF). Taxpayers may generally rely on these new proposed regulations. The IRS has also requested comments. The proposed regulations also withdraw and replace placeholder provisions in an earlier set […]
Read moreFebruary 09, 2019Wayne NaegeleBlog Posts0 CommentsWayfair decision and impacts on your business On June 21, 2018, the Supreme Court of the United States handed down a historic decision in the sales and use tax nexus case South Dakota v. Wayfair, Inc. The 5-4 ruling overturns physical presence standards upheld in previous cases, such as Quill Corp. v. North Dakota (1992) […]
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