PPP Loan Forgiveness Application Now Available

Updated: 5/19/20 Please be aware that the Small Business Administration (SBA) has released the Paycheck Protection Program (PPP) Loan Forgiveness Application and instructions for the application, available here. The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). …

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CARES Act Frequently Asked Questions for Businesses

BUSINESS IMPACTS AND SUPPORT Q: I believe my business may qualify for support through the CARES Act. What should I do first? A: While some details are still being finalized, you can review various loan options and tax updates made available through the CARES Act. See our resource library here. Then, start reviewing appropriate applications and gathering …

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Pennsylvania Tax and Unemployment Bills – COVID-19

Amid COVID-19, the PA has changed the state tax deadline to align with the updated federal deadline of July 15, 2020. Pennsylvania has also enacted unemployment changes for eligible individuals and business owners, including: Unemployment eligibility requirements will be eased to support workers who have been impacted by the coronavirus. This includes waiving the one-week …

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Small Business Resources – Loans and Guidance – COVID-19

As business owners face many new realities due to government-recommended closures and keeping their employees and customers healthy, several resources are available for support through the Small Business Association (SBA). Our tax pros are also available to help guide business owners on cash flow, updates to tax deadlines, loan options and more. Key Resources Economic …

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Millions of Households to Receive Stimulus Assistance – COVID-19

As approved by Congress, a $2 trillion economic rescue plan includes payments to individuals, expanded unemployment coverage including self-employed and much more. Here is what you need to know: Most adults will receive a one-time payment of $1,200, although some will be less. Every child under 16 adds an additional $500. Check your adjusted gross …

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Property Investment for Profitability: 3 Keys for Success

If you’re new to the investment property business, or a seasoned professional, having trusted, third-party analysis on your investment may not only provide peace of mind, but prove to also jumpstart or grow your investment property business. While property appraisals will help you to understand what a property is worth, property evaluations helps to understand, …

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Include an accountant on your estate team to navigate tax responsibilities

When becoming an estate executor, often times the tax responsibilities and roles are unfamiliar. While the primary responsibility is to execute and finalize the estate wishes of a family member or friend, a number of tax-related tasks are necessary. Should you become an estate executor, understanding the importance of including an accountant on your team …

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Building a Business from the Ground Up: 5 Ways to Spark Start-Up Success

Every successful business started as a thoughtful idea – even a dream. But, what does it take to move a concept from ambition to a successful, thriving business? At Lodovico & Associates, we often meet with new business owners and experienced entrepreneurs as they enter into a business start-up or scale up a current business. …

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