COVID-19 has had an unprecedented impact on all aspects of American businesses, but perhaps none have been as severely affected as small business owners. Surviving this disaster will require more than just time: you will need to take a pragmatic view of what has happened and what steps you are willing and able to take…

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Coronavirus and Taxes: Frequently Asked Questions (FAQ)

The COVID-19 outbreak is affecting every facet of our lives – including our taxes. Check here for all your FAQ to see how you may be impacted. Q: Has the government extended the filing deadline? A: Yes, the federal government has extended the April 15 filing deadline for 2019 tax returns to July 15, 2020.…

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A New Bankruptcy Reorganization Option for Small Businesses (5)

The rapid spread of the COVID-19 virus has begun to initiate an economic downturn and spurred a series of rapid responses on the part of the government. There have been so many proposals and versions floated regarding employee policies during the public health emergency that employers are understandably confused. Though there was an initial belief…

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IRS Moving Tax Day to July 15 from April 15

Treasury Secretary Steven Mnuchin announced there would be a 90-day reprieve for taxpayers to file and pay their income taxes owed. This is one measure the federal government is enacting in order to curb the economic fallout from the coronavirus (COVID-19) outbreak here in the US. This will give American taxpayers three additional months than…

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A New Bankruptcy Reorganization Option for Small Businesses (3)

As part of the efforts to contain the COVID-19 outbreak, the elderly, especially those over the age of 80 who are most susceptible the dangers of the virus, have been asked to self-isolate themselves. At the same time, the public has been asked to assist family, friends and neighbors who can’t do their own their…

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A New Bankruptcy Reorganization Option for Small Businesses (4)

After already extending the due date for tax payments earlier this week to account for the COVID-19 emergency, Treasury Secretary Steven Mnuchin announced in a Tweet on Friday that the deadline for filing tax returns is also being delayed from April 15 to July 15. “At @realDonaldTrump’s direction, we are moving Tax Day from April…

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