On Friday, October 2, 2020, the U.S. Small Business Administration issued SBA Procedural Notice 5000-20057, which provides long-awaited guidance regarding pre-forgiveness restructures and ownership changes of borrowers under the Paycheck Protection Program.
The Leadership Council for Nonprofits has selected Strauss Troy attorney Brian R. Tracy to participate in its upcoming Board Orientation + Leadership Development (BOLD). The program, which helps train professionals to serve on nonprofit boards, serves as Greater Cincinnati’s leading nonprofit board training program with a goal of educating and empowering local leaders to serve boldly.
Strauss Troy has partnered with several law firms to act as co-counsel in evaluating insurance claims for loss of business income, also known as business interruption insurance.
As businesses such as restaurants, salons, gyms, retail, and more slowly open up after months of being shut down or limited operations due to COVID-19, employers are looking for guidance in navigating the constantly evolving rules for maintaining safe and healthy workplaces. Strauss Troy attorney Theresa Nelson has curated a list of resources that business …Read More
On May 19, 2020, the Small Business Administration released a list of frequently asked questions for lenders and borrowers.
On May 12, 2020, the IRS released Notices 2020-29 and 2020-33 which together provided some relief from the restrictions regarding changes to health and cafeteria plan elections.
PPP loans are subject to forgiveness to the extent that a borrower uses PPP funds for payroll costs and certain mortgage interest, rent and utility obligations during the 8 week period following loan disbursement.
By: Michael L. Iannitti The SBA has continued to issue additional guidance for borrowers and lenders on the Payroll Protection Program (PPP). Since publishing its initial rules in early April, further clarification has slowly trickled out on the often vague provisions of the CARES Act. Perhaps most significantly, the SBA has clarified the circumstances in …Read More
Join Strauss Troy attorney Theresa L. Nelson for a complimentary webinar as she shares guidance on recalling employees, OSHA and CDC guidelines, maintaining safe and healthy workplace practices, and more.
By: Theresa L. Nelson With recent news of easing stay-at-home orders, employers that have been operating with limited employees or that were closed due to COVID-19 need to evaluate the next steps for returning employees to work and opening operations. Any return-to-work plan must comply with all federal, state and local directives to ensure a …Read More
On April 9, 2020, the IRS issued another notice which expands the relief to additional returns and tax payments.
Do you have a high school senior? Join Dana Rolander, president of Midwest College Consulting, and Nancy Eigel-Miller, founder and director of 1N5 and a specialist in college financial aid, for a free webinar on navigating the college selection process during quarantine. In this April 13 webinar, you’ll get tips on revisiting financial aid and …Read More
An appeals court on Thursday reversed part of a judgment in favor of the Cleveland Botanical Garden in a years-long legal dispute over the deed that gave Wade Park to the city of Cleveland. The Wade descendants are pleased with the appeals court’s ruling and plan to keep pursuing the matter in court, said Matthew …Read More
By: Michael L. Iannitti Editor’s Note: Updated on April 3, 2020 with SBA Interim Final Rule On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act into law. Below is a summary of the terms concerning small business loans and other related provisions. Paycheck Protection Program A small business …Read More
Dear Client: You’ve probably heard that IRS will be making millions of ”economic impact payments” (also called ”recovery rebates”) in the coming months to help people stay afloat during this time of economic uncertainty related to the COVID-19 crisis. Here’s what you need to know about this program. Amount of payment. IRS will soon begin …Read More
The Department of Labor published regulations governing the Families First Coronavirus Response Act on April 1, 2020. While containing extensive explanations of terms and provisions throughout the entire FFCRA, one section is particularly noteworthy for small businesses. The language of the FFCRA provided that small private employers with fewer than 50 employees could be exempt …Read More
The Families First Coronavirus Response Act (FFCRA), which includes the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act, paid leave provisions are effective on April 1, 2020 and apply to leave taken between April 1, 2020 and December 31, 2020. The Wage and Hour Division (WHD) of the Department of Labor issued detailed guidance and the required notice for employers to post.
“If you’re not paying for the product, you are the product. ”It’s a clever statement and has enough truth to it that it sounds deep and memorable. But it misses the point. Where that comment makes some sense is where social media gives free access to get you to join and then sells ad time and sells data about you and your use of that particular social media.
The Governors and the Departments of Insurance in Ohio and Kentucky have recently taken steps to protect insureds – both individuals and businesses – during the COVID-19 pandemic.
Kentucky Supreme Court has issued a general Order about exchanging children between separated and divorced parents during the next 4 weeks of the coronavirus restrictions. It basically tells parents, with specific exceptions, to continue to exchange their children pursuant to their prior existing agreements, court orders and divorce decrees.