As anyone who lives in New York State and pays income taxes knows, for tax years beginning after 2017, Taxpayers were limited to a deduction of $10,000 itemized state and local tax on their federal income tax returns. Known as a “SALT” deduction, the $10,000 limitation adversely affected individuals in high tax states such as…
The American Rescue Plan Act of 2021 was passed by Congress and signed into law by President Joseph R. Biden on March 11, 2021. It provides approximately $1.9 trillion in support and stimulus for individuals, businesses, other organizations, and state and local governments who have been affected by the COVID-19 pandemic. Here’s a highlight of…
In an effort to provide better access to PPP funding for small businesses, President Joseph Biden recently announced some changes to the PPP loan application process. Beginning today, February 24, 2021 and continuing for 14 days, the SBA will only accept applications from businesses with fewer than 20 employees. This exclusive window for small businesses…
When you woke up on New Year’s Day, did you ever imagine the craziness that is 2020? Did you think that we would have had to quarantine ourselves for the better part of the winter, spring and into the summer due to the scourge of a novel virus? Did you imagine record unemployment, schools and…
No, it isn’t an April Fools prank. There are ways small businesses can receive cash in a short period of time. There are a number of loans and other programs available, however, keep in mind that businesses may not apply for different loans to cover the same costs. Let’s compare the Economic Injury Disaster Loan…
Everyone has questions about the Coronavirus Aid, Relief and Economic Security (CARES) Act that was passed by Congress and signed by the President last Friday. It is a voluminous bill of over 800 pages and provides $2 trillion designed to provide relief for American workers, businesses, hospitals, government, and certain nonprofits and other employers. A…
The Coronavirus Aid, Relief and Economic Security (CARES) Act that was passed by Congress and signed by the President is a $2 trillion package designed to provide relief for American workers, businesses, hospitals, government, and certain nonprofits and other employers. A voluminous bill of over 880 pages, we will do our best to summarize it…
On Wednesday evening, the Senate passed a $2 trillion stimulus package which is designed to provide relief for American workers, businesses, hospitals and government which are sorely in need during the coronavirus pandemic. It was approved unanimously by a 96-0 vote, and now must be voted on by Congress. That vote is expected on Friday….
Meet the Garibaldi Group, a new accounting firm that takes accounting and financial management to a new level of responsiveness. We’re a team of seasoned experts who combine professionalism with pragmatism and experience with vigilance to provide responsible and responsive financial management services. Under the steady leadership of Michael J. Garibaldi, the Garibaldi Group helps…