COVID-19 Resource Center

Helping our Community through an Unprecedented Time

COVID-19 Resource Center

Alloy Silverstein CPA Firm COVID-19 Resource Center

 

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Alloy Silverstein continues to remain operational to help clients meet the tax deadlines and aid businesses through these trying times. We’ve centralized the following Coronavirus tax, business, and legislative information that may be helpful to you:

While our CPA and accounting team may be working remotely, we’re still working for you. Please don’t hesitate to reach out if we can be of any assistance in a tax, financing, or business advisory matter as you cope during this unprecedented COVID-19 pandemic.

 

Alloy Silverstein Accountants and Advisors
 

Important Information:

  • Office Status & Client Resources

    As of March 23, Alloy Silverstein’s professional staff will be working remotely. Please click the following link for more operational details.
     
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  • Relief Loans & Grants: We Can Help!

    If you need help navigating the loan and application process for SBA relief, the Paycheck Protection Program, or NJEDA grants, turn to a trusted Alloy Silverstein CPA to help get your information in as quickly and as accurately as possible.
     
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  • Tax Deadline Status

    As of March 20, the federal individual and C-corp tax filing and payment deadline is extended 90 days to July 15.
     
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Latest Resources:

  • New Jersey Tax Deadline Extended to July 15

    On April 1, 2020, Governor Murphy finally announced that the NJ state income tax filing deadline and the corporation business tax filing deadline will be extended from April 15th to July 15th.
     
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  • NJEDA Grants and Additional Resources For South Jersey Employers Impacted By COVID-19

    [UPDATE: Applications open on April 3.] New Jersey, Burlington County, Pennsylvania, and the City of Philadelphia are trying to help those facing economic hardship. Each have announced a mix of loans and grants that small businesses and not-for-profits can apply.
     
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  • Paycheck Protection Program vs. Economic Injury Disaster Loan

    As a small business owner, there are now two affordable financing options—The CARES Act’s Paycheck Protection Program and the Small Business Association’s Economic Injury Disaster Loan (EIDL). Following is a comparison of the two loan programs:
     
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  • The CARES Act: Key Tax Provisions for Businesses and Individuals

    On March 27, 2020 President Trump signed into law the Coronavirus Aid Relief and Economic Security Act (CARES Act). The CARES Act is a stimulus bill featuring over $2 trillion in measures designed to make a significant impact on the economy and bring relief to individuals and businesses impacted by COVID-19 or the Coronavirus pandemic. Following are the key tax provisions:
     
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  • Paycheck Protection Program: Relief for Small Businesses Within the CARES Act

    Presented by the U.S. Chamber of Commerce, following is a guide on how small businesses can apply for a forgivable loan through the Paycheck Protection Program. Applications open on April 3. See the top questions and more:
     
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  • SBA Financial Assistance Guide [Infographic]

    Alloy Silverstein presents a guide for small businesses experiencing hardship and losses during COVID-19. Now that New Jersey is a declared disaster state, this Small Business Administration (SBA) financing is available to New Jersey small businesses.
     
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  • 4 Tips for Getting Your Business Through Tough Times

    It’s highly likely that the Coronavirus and it’s resulting impacts, could put some significant pressure on your business. Here are four tips for getting your business through difficult periods so you can look forward years of business ownership.
     
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  • IRS Publishes Q&As on Filing Deadline Extension

    In response to the need for taxpayer clarification, the IRS published a new frequently asked Q&A page on the relief measures. This page is a flexible tool that will be updated periodically.
     
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  • Tax Deadline Extended to July 15

    It’s official. On Friday, March 20, 2020, Treasury Secretary Mnuchin announced that the April 15 tax filing deadline is in fact being postponed to July 15, 2020. The filing deadline extension applies to federal income tax returns for individuals and C-corporations.
     
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  • Employer Tax Credits Available in Coronavirus Relief Bill (FFCRA)

    On March 18, President Trump signed the Families First Coronavirus Response Act (FFCRA) into law. The Act provides taxpayers a range of benefits including paid sick leave, expanded family and medical leave coverage, updates to unemployment insurance, increased Medicaid funding, free coronavirus testing, and new employer tax credits to help business fund these initiatives.
     
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  • Coronavirus & More: The Media’s Impact on Your Financial Strategy

    The 24-Hour News Cycle moves from Impeachment to COVID-19 to the Primaries – What’s next? When major events make headlines, it’s easy to put yourself in the picture. Knowing, as well, how such events might affect the financial markets, it’s also easy to wonder how your investments and retirement strategy might fare.
     
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  • What to do When Your Supply Chain Faces Disruption

    f your company relies on suppliers in various geographic locations, it’s likely that at some point your business will face a supply chain disruption. Here are some steps you can take to respond to such situations and even prepare ahead of time for them.
     
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  • Business Assistance During the COVID-19 Pandemic

    Alloy Silverstein continues to monitor the COVID-19 pandemic and we’d like to share resources that may be helpful to your business during these trying times. Further state and federal legislative measures to aid businesses impacted by COVID-19 are still pending. We will keep you updated.
     
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  • Beware of Coronavirus Scams and Fraud

    With the nation in fear and panic over COVID-19, individuals are more susceptible to fraud and theft. Fraudsters know customers may be extra vulnerable during these times, so they are getting creative. Protect yourself by being aware of these different tactics that scammers are using in an attempt to get a hold of your information.
     
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  • What Does the Extended Tax Payment Deadline Mean for Me?

    [Edit: Updated on 3/20] While the federal government grants you an additional 3 months to pay your 2019 taxes, you are still required to file your tax return by April 15 or file for an extension. Here are some thoughts on different situations.
     
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  • Tax Season Update: Payment Extended, Filing is Not

    [Edit: Updated on 3/20] The Coronavirus continues to impact the daily lives of millions of Americans, including their taxes. On March 17, The U.S. Treasury announced relief measures to try to aid individual and business taxpayers during these trying times. However, until the IRS released additional guidance, there has been some confusion on what is due and when.
     
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  • Preparing Your Workforce for an Outbreak Threat

    While the Coronavirus, also known as COVID-19, is officially an international pandemic, it’s slowly but surely making its way across the United States. It’s not yet a cause for panic, but it does call for some preparations to keep your company’s workflow running smoothly and your employees safe.
     
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  • App Options to Get Started with Online Meetings

    Looking into affordable video chat and voice calling options for your small business? These four popular, user-friendly alternatives to Skype will help you connect seamlessly with staff, colleagues, and customers.
     
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  • Creating a Remote Work Team

    Telecommuting is one of the hottest commodities in modern business. Contrary to its casual appearance, working from home comes with its own diverse cast of problems; however, it can be an incredibly rewarding experience for both you and your employees. If you’re interested in creating a remote team, here are a few pointers on getting started.
     
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  • Advice for Managing Remote Teams

    Many business are now working remotely, but telecommuting also presents some challenges – in particular, two core issues: keeping track of what remote workers are doing and ensuring that remote and in-house teams form a cohesive unit. These tips can help you effectively manage and support your remote employees.
     
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  • How Do You Protect Remote Workers?

    As property costs rise, many employers have turned to a cost-effective alternative: the remote employee. Unfortunately, while the benefits of employing remote workers outweigh the cons, there are some safety-related downsides to having an extensive list of remote employees on payroll. Here are a few ways you can cut down on the risks.
     
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  • Why Cloud Accounting Should Be Part of Your Disaster Plan

    After a disaster like a hurricane or a flood (or a pandemic), we often think of the recovery process in terms of physical repairs to damaged property. Businesses, however, must also cope with the recovery of their records. Why would I recover faster if my accounting records were in the cloud?
     
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  • The Essentials of an Effective Business Disaster Recovery Plan

    If there’s any guarantee in life, it’s to expect the unexpected. Small businesses are the most impacted when it comes to disasters. By focusing on some of the most critical elements of a disaster plan, you can avoid being overwhelmed by the challenge.
     
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  • Don’t Let a Disaster Derail Your Business

    With the frequency of natural disasters, mass shootings and cyber threats, it’s important that your business is ready if it faces its own disaster. Most small businesses don’t have formal disaster recovery plans and as a result, 40 to 60% permanently close after one strikes. Don’t be part of that statistic.
     
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  • The Case for Paperless Payroll

    If you’re on the fence about implementing a paperless payroll system in your business, consider these benefits of ditching your paper checks and W-2s in favor of online ones.
     
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Ideas to Support Small Business During COVID-19

Support Small Business

Small businesses forced to close and limit hours are facing tough times. Here are several ways to continue to help and support your favorite local businesses from the comfort of your home.