Family Office

Important Filing Information For 2020 Forms 1099 MISC & NEC

Updated 1/5/21 New State Electronic Filing Requirements New for 2020: This year most states including New Jersey require mandatory electronic filing of all 1099s. If you need assistance with the new state e-filing requirements, please reach out to Mercadien’s Tax Services Group. For the 2020 tax year, the Internal Revenue Service (IRS) and State Taxing…

Read More

How This Year’s Election Could Affect Your Year-End Tax Planning

As year-end approaches, it is a good time to think about planning moves that may help lower your tax bill for this year and possibly next. Year-end planning for 2020 takes place during the COVID-19 pandemic, which in addition to its devastating health and mortality impact, has widely affected personal and business finances. New tax…

Read More

Mercadien Announces Executive Promotions; Names Ms. Lovepreet Buttar A Partner

September 14, 2020; Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Lovepreet Buttar, CPA, MBA, CGMA, PSA, a member of the Nonprofit & Human Services Group, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs…

Read More

Mercadien Webinar Replay: Are You Ready to Submit Your PPP Forgiveness Application?

Frank Pina, CPA, Sherise D. Ritter, CPA, Kyle Neeld, CPA, Managing Directors & Elizabeth LaCorte, CPA, Manager, presented a webinar Are You Ready to Submit Your PPP Forgiveness Application? on Wednesday, July 29th. During the webinar, they went over: Key points of the PPPFA Modifications to provisions related to PPP loan forgiveness, including: Extended covered period…

Read More

Are You Eligible for Additional Relief from the COVID-19 PA Hazard Pay Grant Program?

The state of Pennsylvania has $50 million set aside for a reimbursement-based grant available through Pennsylvania’s Department of Community & Economic Development (DCED).  The COVID-19 PA Hazard Pay Grant has an extremely short application window – JULY 16 – JULY 31, 2020. Unlike the Paycheck Protection Program grants, the funds from this grant are not…

Read More

CARES Act Funding for Home & Community-Based Service (HCBS) Providers – What You Should Know

The Coronavirus Aid, Relief and Economic Security (CARES) Act established the Coronavirus Relief Fund (the Fund) and appropriated $150 billion to the Fund. The purpose of the Fund is to make payments for specified uses to state and certain local governments.  State governments that receive funding have flexibility when determining how to use the funds.…

Read More

Update to Our PPP Loan Forgiveness Implementation Guide

The PPP Loan Program Evolution Continues As suspected back in May when Mercadien published its Paycheck Protection Program (PPP) Loan Forgiveness Implementation Guide, many rules have evolved and changed for both borrowers and lenders.  It has been several weeks since we published the original version of this guide.  Over these last several weeks, we have…

Read More

The CARES Act – Retirement Provisions & Future Planning

Breaking News!!  The IRS announced that anyone who already took a required minimum distribution for 2020 from IRA accounts now has the opportunity to roll those funds back into a retirement account.  The normal 60-day rollover period for RMDs already taken this year has been extended to August 31, 2020 to give taxpayers more time…

Read More

NJEDA Update: Small Business Emergency Assistance Grant Program – Phase 2 Info Now Available

The New Jersey Economic Development Authority (NJEDA) recently announced $50 million in new funding and broader eligibility criteria for the Small Business Emergency Assistance Grant Program. Under the newly-expanded program, which will provide grants up to $10,000 for COVID-impacted businesses, a wider variety of businesses will now be eligible, including home-based businesses and sole proprietorships.…

Read More

New PPP Guidance from the SBA Regarding Good Faith Need Certification

On May 13, the SBA released new guidance regarding the required good faith certification of need by PPP loan applicants, providing safe harbor to all recipients of less than $2 million in loan proceeds.  This guidance also speaks to ramifications for borrowers with loans of more than $2 million that are determined to have lacked…

Read More