
Donald M. Pepe
Partner
732-568-8370 dpepe@sh-law.comFirm News
Author: Donald M. Pepe
Date: March 27, 2020
Partner
732-568-8370 dpepe@sh-law.comIn the turbulent wake of the COVID-19 disaster, and make no mistake it is a natural disaster as real as hurricane, earthquake or tornado, the federal government, together with state and local governments, has enacted a variety of measures that are available to help small businesses weather the storm. The problem is, the federal legislation alone consists of 880 pages, with references and overlaps with Internal Revenue, Small Business Association and Banking Codes.
The federal package provides a mix of benefits for small to mid-size companies with 500 employees or fewer. Qualifying businesses have access to federally guaranteed loans of up to $1,000,000 that can be used to maintain payroll and ordinary business expenses like rent, utilities, mortgage payments or interest on debts, even if businesses are temporarily closed. When it comes to payroll security, the legislation covers salary, sick leave, severance, health benefits, and state and local payroll-related taxes. These loans are non-recourse, require no collateral and best of all, under specified circumstances, the debt will be forgiven in full. Think about what an additional million dollars can do to help you keep your small business afloat.
Additional industry-specific benefits are also available. For instance, revisions to the IRS Code provide substantial new benefits to real estate businesses. Under the existing tax code, depreciation losses will only shelter the first $500,000 of a married couple’s nonbusiness income, such as capital gains from investments. The result is that people can enjoy big tax breaks stemming from only-on-paper losses, even if they enjoy big cash profits in the real world. The new stimulus bill lifts the $500,000 restriction for three years — this year, and two retroactive years — a boon for couples with more than $500,000 in annual capital gains or income from sources other than their business.
Now is not the time to try and navigate the breakers alone. The attorneys at Scarinci Hollenbeck are thoroughly familiar with every aspect of the new legislation and are ready to stand by your side to make sure your small business achieves the maximum potential benefits available. If you have any questions or if you would like to discuss the matter further, please contact me, Don Pepe, or a member of Scarinci Hollenbeck’s COVID-19 Crisis Management Group at 201-896-4100.
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Scarinci Hollenbeck Partner Nathanya G. Simon named by ROI-NJ to the “ROI Influencers: Women in Business” list for fourth consecutive year Scarinci Hollenbeck Partner Nathanya G. Simon has been named by ROI-NJ to the “ROI Influencers: Women in Business” list for 2025. After four decades of practice, Nathanya’s pioneering influence in the field of special […]
Author: Scarinci Hollenbeck, LLC
Congratulations Angela Turiano on appointment as Director of Legislative Affairs for SHRM Princeton April 17, 2025 – Little Falls, NJ – Scarinci & Hollenbeck, LLC congratulates Partner Angela Turiano on her appointment as Director of Legislative Affairs for SHRM Princeton. Along with serving as a member of SHRM Princeton’s leadership team, Angela will monitor pending legislative, regulatory, […]
Author: Scarinci Hollenbeck, LLC
Congratulations Brittany P. Tarabour for Nomination as Three-Year Trustee of the Monmouth Bar Association Red Bank, NJ – April 9, 2025 – Scarinci & Hollenbeck, LLC proudly congratulates Brittany P. Tarabour on her nomination by the Monmouth Bar Association to serve as a Three-Year Trustee. Founded in 1908, the Monmouth Bar Association is dedicated to […]
Author: Scarinci Hollenbeck, LLC
Scarinci Hollenbeck Partner Ron Bienstock Featured on Bloomberg Law Podcast to Discuss Dua Lipa Copyright Infringement Lawsuits Little Falls, NJ – April 8, 2025 – Scarinci & Hollenbeck, LLC Partner and Chair of the firm’s Intellectual Property and Entertainment & Media departments Ronald S. Bienstock was recently featured on the Bloomberg Law podcast to discuss […]
Author: Scarinci Hollenbeck, LLC
Scarinci Hollenbeck Attorneys From Little Falls and Red Bank Named to 2025 New Jersey Super Lawyers List Little Falls, NJ – April 2, 2025 – Scarinci & Hollenbeck, LLC attorneys from both NJ offices were named to the 2025 New Jersey Super Lawyers and Rising Stars list. Each attorney was chosen in recognition of their […]
Author: Scarinci Hollenbeck, LLC
On Thursday, April 3, 2025, Partner Angela Turiano will make her fifth appearance as a mock arbitrator for the Securities Arbitration Clinic at the prestigious Fordham School of Law. Angela will draw on her years of experience to provide feedback to these future lawyers after making opening presentations and closing arguments, with the goal of […]
Author: Scarinci Hollenbeck, LLC
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!