Ideas & Insight

Many small businesses continue to struggle in the wake of the coronavirus (COVID-19) pandemic. Some have already closed their doors and are liquidating assets. Others, however, may have a relatively less onerous option: bankruptcy. Although bankruptcy obviously isn’t an optimal outcome for any small company, there may be a silver lining: A new bankruptcy law […]

As the novel coronavirus (COVID-19) spread throughout the country this March and April, many states restricted the movement of residents while allowing those in “essential” businesses to continue working. Generally, construction companies have been deemed essential for this purpose — leaving contractors to grapple with the logistics. Although nothing is certain at this point, some standard […]

The coronavirus (COVID-19) pandemic has forced American businesses to adapt quickly to a radically new economic and operating landscape. If your company sells, manufactures, delivers, distributes or otherwise facilitates goods considered “essential” you may need to operate at full (or overtime) capacity, and do so safely and productively. On the other hand, manufacturers whose goods […]

Many companies have questions about how to handle employee benefits, especially health care coverage while employees are on furlough due to the novel coronavirus (COVID-19) pandemic. Here’s an example of a common question some employers are asking.     The Consolidated Omnibus Budget Reconciliation Act (COBRA) gives workers and their families who lose health benefits the […]

A natural place to turn when disaster strikes is insurance. The very reason you pay premiums and deal with the paperwork is to have these risk management policies in place when necessary. But, when it comes to business interruption coverage, you may have to adjust your expectations if you intend to file a claim because […]

The Federal Reserve on April 30th released additional guidance and Main Street Lending Program updates. The program has changed since the last blog posted on April 21st. Here are the new details: “To implement the Program, the Federal Reserve Bank of Boston will set up a special purpose vehicle (SPV) to purchase participations in loans originated by […]

Millions of eligible Americans have already received their Economic Impact Payment (EIP) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some answers to questions you may have about EIPs. Who’s eligible to get […]

As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27, including adjusted retirement plan & charitable contributions rules. The Coronavirus Aid, Relief, and Economic […]

On April 9th, the Federal Reserve took additional actions to provide up to $2.3 trillion in loans to support the economy through the Main Street Lending Program (“MSLP”). The actions the Federal Reserve are taking to support employers of all sizes and communities across the country will ensure credit flows to small and mid-sized businesses. […]

Unemployment Assistance is available to Self-Employed, Other Newly Eligible Workers on Monday, $600 Federal Payments Also Begin Michigan’s self-employed workers, gig workers, 1099-independent contractors and low-wage workers affected by COVID-19 can apply for federal Pandemic Unemployment Assistance (PUA) beginning Monday, April 13 at 8 a.m. Under the federal CARES Act, workers on state unemployment have […]