Posts by Jessica Levin
Scaling from Clinician to CEO
Steven Mizrach will be a presenter at Polaris Healthcare Partners’ Pinnacle event in Fort Lauderdale, FL on March 30-April 1.
Read MorePPP – Phase IV Stimulus Updates, Forgiveness, Second Draw Loans – Webinar Recording
On January 19th, Steven Mizrach joined Morgan Nighan from Nixon Peabody to discuss the latest PPP loan options. The recording from the session along with the slides are now available.
Read MoreHighlights of New Federal Stimulus Package
As many of you have heard by now, last week Congress approved The Consolidated Appropriations Act, 2021 which provides emergency assistance and health care response for individuals, families and businesses as a result of the Coronavirus (COVID-19) pandemic. The Act expands the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security…
Read MoreTreasury Provides Guidance On Tax Ramifications of PPP Forgiveness
On November 19th, the US Treasury Department issued a Revenue Ruling 2020-27 reiterating that expenses paid with PPP (Paycheck Protection Program) Loan proceeds that are forgiven will not be tax deductible. Additionally, the Ruling clarifies the tax treatment for Companies that intend to apply for loan forgiveness in either 2020 or 2021. The Ruling states…
Read MoreSBA Simplifies PPP Loan Forgiveness for Loans Under $50,000
Last week the SBA issued additional guidance for Companies that received PPP loans of $50,000 or less, whereby they would no longer be subject to the penalty provisions of the forgiveness calculation for reductions in their FTE employee headcount as well as for salary and wage reductions for existing staff. This provides a substantial benefit…
Read MoreSBA RELEASES UPDATED GUIDANCE REGARDING PPP TREATMENT OF OWNERS AND FORGIVENESS OF RENT
Last week the SBA issued additional guidance regarding who is considered an owner for purposes of determining compensation that is eligible for forgiveness as well as the types of rent that are considered qualifying nonpayroll costs. Owners Owners of C or S Corporations with less than a 5% interest will be exempt from the owner-employee…
Read MoreHHS Announces Over $4 Billion in Additional Relief Payments to Healthcare Providers Impacted by the Coronavirus Pandemic
On July 10, 2020 the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), announced approximately $3 billion in funding to hospitals serving a large percentage of vulnerable populations on thin margins and approximately $1 billion to specialty rural hospitals, urban hospitals with certain rural Medicare designations, and hospitals in…
Read MoreSBA Releases Simplified PPP Forgiveness Application and Revised Standard Application While Providing Additional Guidance
Last week the SBA issued a Simplified PPP Forgiveness Application, Form 3508 EZ, that streamlines the forgiveness process for certain applicants as well as provided additional guidance.Who is eligible to use Form 3508EZ? Self Employed Individuals and General Partners that did not include any employees in the Borrower Application Form that was submitted to the…
Read MoreImportant Changes to Paycheck Protection Program
On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act Of 2020 into law thus allowing businesses a greater opportunity to use PPP funds received in conjunction with the progression of their activity. This change should increase one’s chances of allowing the loan to be completely forgiven. THE FOLLOWING ARE THE KEY PROVISIONS OF THE ACTExtension of Covered Period…
Read MorePPP forgiveness application—What borrowers need to know
If you missed our May 26th webinar on the PPP Loan Forgiveness Application, you can find the recording here. Please do not hesitate to contact us with any additional questions. Watch the Webinar Download Slides
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