Insight

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Posted in The Bottom Line, Featured Post, General Business, Small Business, Featured Content

For additional funding, take a stroll down main street

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If your business didn’t qualify for a PPP loan, you may want to check out the Federal Reserve’s new Main Street Lending Program.

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Posted in Featured Content, Newsletters

MWE Advisor June Highlights

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June highlights from The MWE Advisor: Last-minute tax saving and planning strategies for businesses that deferred filing tax returns; How to report employees who refuse to return to work.

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Posted in Featured Content, In The News

Here’s what happens to your PPP loan if your small business fails

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Millions of small businesses impacted by the coronavirus pandemic have received relief via Paycheck Protection Program and Economic Injury Disaster loans, but according to a survey, many of them still don’t expect to survive. In a recent CNBC.com article, MWE partner Paul Becht discusses what could happen to you and your loan(s) if your…

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Posted in The Bottom Line, Featured Post, State & Local Strategies, Corporate Income Tax, Personal Income Tax, Property and Other State/Local Tax Issues, Featured Content

Decoupling from the CARES Act New York City Style – The Sequel

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Late last Wednesday, Governor Cuomo signed legislation, A10519/S08411, that decoupled additional provisions from the CARES Act for New York City Business Taxes.  The legislation may have personal income tax considerations because the legislation has provisions that apply to New York City pass through entity level taxes. The…

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Posted in The Bottom Line, Featured Post, State & Local Strategies, Corporate Income Tax, Income and Franchise, Personal Income Tax, Property and Other State/Local Tax Issues, Featured Content

NYS Decoupling from CARES Act – Section 163(j) Limitation – How to Make Complicated More Complicated

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In our two previous posts on the New York State Budget’s Decoupling {“Decoupling”}, we discussed the myriad of implications arising from the Decoupling that focused on the Personal Income Tax as well as Pass Through Entity (PTE) ramifications to the extent the Decoupling’s affects would be required to be reflected by PTEs for…

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Posted in Articles, Featured Content

PPP Flexibility Act eases rules for borrowers coping with COVID-19

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Back in April, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the PPP is generally available to U.S. businesses with fewer than 500 employees. In its…

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Posted in The Bottom Line, Featured Post, Infographics, Featured Content

Student loan debt by the numbers

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Infographic: How much student loan debt do Americans have? The number is staggering.

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Posted in Alerts, Featured Content

Webinar: PPP – Forgiveness, Extensions & More

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On June 5th, changes to the Paycheck Protection Program were signed into law by President Trump. Join MWE Partner Paul Becht and Brian Califano, Managing Partner at AcceleratingCFO, on June 10th as they discuss the changes, guidance released on loan forgiveness, and more during their complimentary webinar.

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Posted in Featured Content, In The News

Why Confusion Still Reigns Over PPP Loan Forgiveness

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Many businesses hit by the pandemic have expressed their confusion with Paycheck Protection Program (PPP) benefits and guidelines, including loan forgiveness. Financial Advisor Magazine recently tapped MWE partner Paul Becht to shed light on some of the rules that are bewildering businesses.    

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Posted in The Bottom Line, Featured Post, Individual Tax Brief, Featured Content

Student loan interest: Can you deduct it on your tax return?

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The economic impact of the novel coronavirus (COVID-19) is unprecedented and many taxpayers with student loans have been hard hit. The Coronavirus Aid, Relief and Economic Security (CARES) Act contains some assistance to borrowers with federal student loans. Notably, federal loans were automatically placed in an administrative forbearance, which allows borrowers to temporarily stop making…

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Posted in Featured Content, In The News

House bill gives small businesses more time to use PPP loans and lets them spend less on payroll

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Last week, the U.S. House of Representatives passed a bill to improve the flexibility of the Paycheck Protection Program. While the bill heads to the Senate, CNBC.com connected with MWE partner Paul Becht to discuss its key provisions, including loan-forgiveness rules and how they could impact small businesses.    

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Posted in The Bottom Line, Featured Post, State & Local Strategies, Corporate Income Tax, Income and Franchise, Personal Income Tax, Property and Other State/Local Tax Issues, Featured Content

NYS Budget Decoupling from Beneficial CARES Act Provisions Creates NOL and Excess Business Loss Complexities

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In our previous post on New York State’s Budget, we identified several of the significant issues  presented by New York’s Budget containing specific provisions which set forth that New York State will temporarily suspend adoption of the Internal Revenue Code (IRC) on a rolling basis {‘Decoupling”}. New York State’s Decoupling from the IRC is…

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Posted in The Bottom Line, Featured Post, State & Local Strategies, Corporate Income Tax, Income and Franchise, Personal Income Tax, Property and Other State/Local Tax Issues, Featured Content

NYS Budget Decouples from Beneficial CARES Act Tax Provisions

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With little fanfare, New York State adopted and Governor Andrew M. Cuomo signed the New York 2020-2021 Budget {“The Budget”} in April that contains significant New York State tax ramifications, especially for those New York taxpayers for which the CARES Act provides potential federal tax benefits.

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Posted in Featured Content, In The News

Reform school: Has the second season of the TCJA been easier?

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When the Tax Cuts and Jobs Act was signed into law, it brought sweeping changes and many questions during it’s first tax filing season. This raises the question, has tax reform been any easier to navigate in year two? MWE tax partner Lance Christensen shines a light on the second filing season under the…

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Posted in Alerts, Articles, Featured Content

Significant Tax Provisions of the CARES Act

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On March 27, 2020 President Trump signed into Law the Coronavirus Aid, Relief, and Economic Security Act. The sweeping legislation gives substantial relief to business owners and individuals. It is the third stimulus package passed this year to help the country recover from the effects of the coronavirus pandemic, which, for some states, has forced…

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Posted in Alerts, Articles, Featured Content

New Employment Tax Credits Under Families First Corona​virus Response Act

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President Trump has signed into Law the Families First Coronavirus Response Act (FFCRA). The FFCRA requires that certain employers provide expanded paid leave and/or emergency family leave to certain employees. The requirements vary based on several factors including the employer’s number of employees, the length of time the employee has been employed by the employer…

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Posted in Alerts, Articles, Featured Content

Treasury Delays Federal Income Tax Filing Deadline to July 15th

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Treasury Secretary Steven Mnuchin announced Friday, March 20th, that the Trump administration has decided to push the federal income tax filing and payment date to July 15 from April 15.

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Posted in Alerts, Articles, Featured Content

Treasury Grants Tax Relief and Trump Signs FFCRA

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On March 18, 2020 the Secretary of the Treasury issued a notice which grants relief with respect to the timing of the payment of Federal Income Tax which would otherwise be due on April 15, 2020. The relief grants taxpayers an extension of time until July 15, 2020 to make the payment and applies to…

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Posted in Alerts, Featured Content

MWE COVID-19 Update

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Clients and Friends: MWE is closely monitoring the ongoing developments related to Coronavirus (COVID-19). The safety and well-being of our staff, their families and our clients is our highest priority. We want to reach out to ensure you that we are taking the necessary steps and precautions to maintain a safe and productive work environment…

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Posted in Alerts, Featured Content

MWE Named a Forbes Best Tax & Accounting Firm

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MWE was recently named a Forbes Best Tax & Accounting Firm in America, landing on their inaugural 2020 list. MWE was one of over 200 firms recognized in the tax category out of 18,000+ tax & accounting firms.

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Posted in Featured Content, Videos

MWE Moves – Follow us on our journey

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Follow us on our journey from our old office to our new home at RXR Plaza.

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Long Island

1500 RXR Plaza - West Tower, Uniondale, NY 11556
T 516.747.2000 // F 516.747.6707

New York City

757 Third Avenue, Suite 2002, New York, NY 10017
T 212.973.1000 // F 212.973.1004

Grand Cayman

27 Hospital Road, Fifth Floor, P.O. Box 1748GT
George Town, Grand Cayman, Cayman Islands, B.W.I