Luft & Company, P.C.

03/24/2020

Employees affected by a business closure, reduction in hours, or a medically or government directed quarantine or isolation should be encouraged to file for unemployment compensation (UC) benefits if no other compensation, such as paid leave, is available to them.

03/24/2020

Providing some small businesses impacted by the COVID-19 pandemic with immediate relief through a mix of grants and loans.

03/24/2020

Philadelphia Offers Tax Filing Extensions During COVID-19
The City is going to recognize the federal extensions provided to businesses from the IRS for filing and payments up until July 15, 2020.

For commercial and residential property owners that are not capable of paying their Real Estate Tax on March 31, the Department of Revenue will offer an extended deadline of an additional 30 days.

The due date for 2020 Real Estate Taxes is now April 30, 2020. The deadline to apply for an installment payment plan for 2020 Real Estate Tax has also been extended until April 30, 2020. These plans have always been readily available to all seniors as well as low-income homeowners.

Taxpayers who are able to file and pay their taxes by April 15, 2020, are strongly recommended to do so. This will certainly help ensure continuity of City and School District operations.

03/24/2020

The City of Philadelphia, along with the Philadelphia Industrial Development Corporation (PIDC), launched the COVID-19 Small Business Relief Fund, with over 9 million dollars in grant and loans designed to assist Philadelphia small businesses, maintain payroll expenses as well as protect jobs affected by COVID-19 virus. On top of the 9 million commitment of City and PIDC funds, another $250,000 is going to be provided by the Daniel B. and Florence E. Green Foundation.

Philadelphia COVID-19 Small Business Relief Fund
The Philadelphia COVID-19, Small Business Relief Fund, is going to be a tiered strategy delivering targeted assistance for small business owners, which faces an extraordinary challenge as a consequence of the ongoing global pandemic. The fund provides a mixture of new grants as well as zero-interest loans for businesses that generate under $5 million in annual revenue. Tiers include:

Microenterprise Grants — $5,000 per business for businesses with less than $500,000 in yearly revenue.
Small Business Grants — Up to $25,000 per business for businesses with annual revenue between $500,000 and $3 million.
Small Business Zero-Interest Loan — Up to $100,000 per business for businesses with annual revenue between $3 million and $5 million.
The COVID-19 Small Business Relief Fund had been developed to respond to needs recognized in the COVID-19 Business Impacts survey, that had been sent out recently.

Businesses are able to submit an application for assistance from the fund at www.phila.gov/COVID-19-business-relief.

As soon as all final application materials are received, the review, award decision, and disbursement process is should take close to two weeks. Top priority is going to be given to businesses that demonstrate a loss of revenue of over 50 percent of average revenue, a strategy for recovery, as well as a commitment to holding onto their employees as long as possible.

Providing some small businesses impacted by the COVID-19 pandemic with immediate relief through a mix of grants and loans.

03/24/2020

Unemployment Charges Relief for Employers forced to reduce staff due to COVID-19

Most states, including Pennsylvania, have lightened some of the expected burden on effected employers. Ultimately all employers and many employees will probably see rate surcharges down the road as the funds need replenishing, but this is welcome relief for some employers wrestling with employment decisions right now.

Employees affected by a business closure, reduction in hours, or a medically or government directed quarantine or isolation should be encouraged to file for unemployment compensation (UC) benefits if no other compensation, such as paid leave, is available to them.

02/14/2020

Broad Street Run Bib Guaranteed for the First 50 to Join "Team Dutch"!!

Join the Darren Daulton Foundation's "Team Dutch" Fundraising Event. Earn your Racing Bib while helping raise funds for those suffering from Brain Tumors and Cancer.

01/17/2019

Tax season could still be ‘ugly’ as 57% of IRS workers to return | Accounting Today

Americans may get their refunds during the shutdown, but the upcoming filing season is likely to be one of the rockiest in decades.

Americans may get their refunds during the shutdown, but the upcoming filing season is likely to be one of the rockiest in decades.

10/23/2018

New Jersey Remote Seller (Wayfair standard) effective Nov 1, 2018

Heads up: Remote sellers into NJ are required to impose, collect & remit NJ sales tax starting 11/1/2018 if triggering the $100,000/200+ trans Wayfair standard.

https://www.state.nj.us/treasury/taxation/remotesellers.shtml