The Federal Reserve announced it is striving to assist small- and medium-sized businesses with its latest program: Main Street Lending. This program has been designed to help businesses that were on solid ground before the COVID-19 pandemic get back on their feet. The Federal Reserve states the Program will operate through three facilities: Main Street… Read more »
Author: Jonathan Ieraci
Estate Planning: How COVID-19 May Change Your Estate Tax Obligation
Posted by Jonathan Ieraci & filed under Cornerstone, COVID-19, TVSInsights.
The individual federal lifetime estate tax exemption is at an all-time high of $11.6 million. The high lifetime exemption, coupled with lower asset prices, creates a good opportunity for owners of closely-held family businesses to execute estate plans. Executing an estate plan can relieve families of the burden of estate taxes, align assets to ensure… Read more »
Understanding the PPP Loan Forgiveness Application
Posted by Jonathan Ieraci & filed under COVID-19.
The U.S. Small Business Administration (“SBA”) recently released the Paycheck Protection Program (“PPP”) Loan Forgiveness Application along, with detailed instructions, which can be found on SBA’s website as well as on the U.S. Department of Treasury’s website. The application contains the following components: PPP Loan Forgiveness Calculation Form; PPP Schedule A; PPP Schedule A Worksheet;… Read more »