June 8th, 2020

Paycheck Protection Program Flexibility Act of 2020

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (“Act”), which amends key provisions of the Small Business Act and the CARES Act that relate to the…

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IRS Building

June 4th, 2020

IRS Grants Further Relief – Extends People First Initiative

In light of continued economic hardship facing Americans, the IRS has extended its People’s First Initiative, effectively granting continued tax collection relief beyond the previously identified July 15th deadline. Key benefits to the People’s First…

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May 22nd, 2020

Making the Leap From a Hobby to a Business: Things to Keep in Mind When Starting a new Work-From-Home Business

From colorful mask-making to distilling hand sanitizer to cooking fresh meals – new work-from-home businesses are cropping up everywhere and providing important products and services to their local communities during the current COVID-19 pandemic. While…

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May 22nd, 2020

Impact on Personal Injury Settlements During COVID-19

During this time of COVID-19 many things are on hold, but your right to get fair compensation for your injuries should not be one of them. You may have heard the courts in Maryland, Virginia,…

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Deadline

May 22nd, 2020

Flexible Spending Arrangements Become Even More Flexible

To assist in recovery from COVID-19, IRS announced in Notice 2020-29 that unused amounts from 2019 for medical costs or dependent care in a cafeteria plan may be utilized for expenses incurred through December 31,…

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Maryland State Flag Laws

May 22nd, 2020

Maryland Enacts a “Work-around” to Increase the Deduction for Taxes

Maryland has become the seventh state to allow pass-through entities such as partnerships, limited liability companies and S-corporations to elect to be taxed at the entity level as a “work-around” to the $10,000 cap on…

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Money growth

May 22nd, 2020

Business Valuations in COVID-19 World

In a matter of months, COVID-19 has had lasting effects on the economy and businesses requiring business valuators to consider its impact. On January 20, 2020, China recorded the first confirmed case of COVID-19. By…

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marital support

May 20th, 2020

The Impact of COVID-19 on Family Support Orders

COVID-19 is having a significant impact on many facets of daily life, but for some people, the most profound impact is on their financial circumstances. When parents separate or spouses divorce, one party may be…

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May 19th, 2020

Updated PPP Loan Forgiveness Guidance from SBA

On May 15, 2020, the Small Business Administration (“SBA”) issued much anticipated guidance—in the form of a Loan Forgiveness Application and instructions—to calculate potential forgiveness amounts for loans issued pursuant to the Paycheck Protection Program…

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May 19th, 2020

A Call to Parents with Young Children: Who Will Take Care of Your Children if You are Hospitalized with COVID-19?

In the midst of this pandemic, many parents with young children have a heightened awareness of their childcare situation. What may have been an initial prevailing concern – who will watch the kids while I…

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