Christina Rampone was awarded the 2016 Abrams Little-Gill Loberfeld Scholarship on Tuesday, May 24, 2016 at the MSCPA Believers & Achievers Reception.
Christina, a Suffolk University rising senior, is studying accounting and maintains a 3.89 GPA. She is also pursuing minors in Big Data and Economics.
The scholarship, which is fully funded by Abrams Little-Gill Loberfeld PC (ALL), awards Christina $2,500 to assist in her studies.
Christina said, “I would like to thank the firm associates and MSCPA scholarship committee members that selected me for this award. I am truly honored to receive the Abrams Little-Gill Loberfeld Scholarship.”
ALL is proud to support the future of profession and is an annual scholarship sponsor.
CARES Act Offers Real Estate Companies Multiple Tax Planning and Business Strategy Opportunities
Real estate companies, like companies in most other business sectors, have struggled to maintain operations and drive revenues during the coronavirus (COVID-19) pandemic. Thankfully, the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains changes to the 2017 Tax Cuts and Jobs Act (TCJA). Those changes, along with tax law changes and loan programs under the CARES Act, provide potential relief to companies in the real estate industry.
U.S. Treasury Changes Position on Qualifying Wages Under Employee Retention Credit
In a decision announced on its website, the U.S. Treasury has amended its position on the Employee Retention Credit (ERC)—specifically, its position on qualifying wages. Under this new position, employer-provided health insurance coverage now qualifies as wages, with respect to the ERC, to the extent it is otherwise allocable to qualifying wages, or to a period where the employee is not providing services. Treasury addresses this matter both for employers that averaged 100 or fewer employees in 2019 and employers who averaged more than 100.
PPP Loans Under $2 million Automatically Meet the Certification Concerning the Need for a PPP Loan
Today the Treasury released FAQ #46 regarding the PPP loan which includes guidance that PPP loans under $2 million automatically meet the certification concerning the need for a PPP loan. This long-awaited SBA guidance is very good news for most borrowers with respect to whether the loan was necessary.
New SBA Guidance on PPP Loan Eligibility and Safe Harbor Extended to May 18
New SBA guidance was issed on PPP loan eligibility and the safe harbor to return PPP loans has been extended to May 14.
Required Minimum Distributions (RMDs) Waived for 2020 through CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law on March 27, 2020, waives required minimum distributions (RMD) for 2020. With a few exceptions, the suspension applies to accounts of both original owners and those who inherited accounts.
House Passes Additional $310B in Funding for Paycheck Protection Program
On April 23, 2020, the U.S. Congress passed a $484 billion relief bill to provide additional stimulus and support for businesses as well as additional funds for hospitals and COVID-19 testing. The majority of the funds, $310 billion, are designated to provide additional funding for the Paycheck Protection Program (PPP) that ran out of funds in only two weeks.
