The Use and Occupancy tax for restaurants will be based on the occupancy allowed by Philadelphia Department of Public Health. This is in line with the previous post published on our site to pay the proportionate taxes and how to request a refund. Emergency Use & Occupancy Tax Regulation: Yesterday, February 18, the Department
Out of the $288 billion for the second round of PPP, around $103 billion (around 36%) have been approved as of earlier this week. The SBA has released some relevant details on how the majority of the loans are for amounts under $100k. Release Date: February 10, 2021 Release Number: 21-15 This week, the
In the press release on Tuesday February 9, 2021, the City allowed a 50% indoor seating capacity (current 25%) if the restaurant met certain HVAC requirements. HVAC system is fully operational and ventilates the entire indoor dining area. At least 20 percent outside is air circulated by HVAC system. Filtration MERV 11 or higher. At
Self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA Eligible self-employed individuals will determine their qualified sick and family leave equivalent tax credits with the new IRS Form 7202, Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals. They’ll claim the tax credits on their 2020 Form 1040 for
The IRS in their Tax Tip 2020-14 communication provided some tips to choose a reputable tax preparer. Check the preparer's qualifications. People can use the IRS Directory of Federal Tax Return Preparers with Credentials and Select Qualifications. This tool helps taxpayers find a tax return preparer with specific qualifications. The directory is a searchable and sortable listing
The New Jersey Economic Development Authority (NJEDA) today announced it will open pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program at 9:00 a.m. EST on Wednesday, February 10, 2021. The $10 million program expansion will support New Jersey small businesses and nonprofits impacted by the COVID-19 pandemic. Eligibility - To be
The Employee Retention Credit (ERC) is one of the most complex tax credits in these stimulus packages. Initially, you could not get PPP and the employer retention credit. There was a previous post that discussed this matter. Now, it seems that the IRS is addressing only if no forgiveness PPP is available to the business
The paid sick and family leave credits, which previously were available only until the end of 2020, have been extended for periods of leave taken through March 31, 2021. The IRS has released IR-2021-26 to provide more clarity on this topic. See link to FAQs below. The following information was released through the IRS Newswire
Information from the article (link below). The application information will be available by Feb 1, 2021 at https://www.njrha.org/ New Jersey restaurants can apply for grants between $2,500-$5,000, thanks to a grant program funded by DoorDash and administered by the New Jersey Restaurant & Hospitality Association. DoorDash announced Monday it is donating $500,000 to the NJRHA to
As you are aware, restaurants and gyms have been severely impacted during COVID. In Philadelphia, there were significant restrictions for any indoor activity. especially for the period November 2020 to mid January 2021. The City has created a new program to provide some relief to those businesses The eligibility for this program is the following
