Individuals & Family

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…

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Uptick in False Claims & Fraud Could Spell Trouble for PPP Loan Recipients

Regulatory and enforcement actions are expected to increase in the foreseeable future as a result of the substantial number of businesses that applied for and received funds under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Recipients of the PPP loans should be mindful of the legal risks the borrowers and/or organization may face…

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Business Valuation Considerations In The Midst Of An Economic Downturn

The effects of the COVID-19 pandemic have manifested in new ways of working virtually, historic unemployment levels, increased divorce rates, and many other evolving ways.[1] Closely held businesses have experienced unforeseen profitability growth or decline depending on the industry and other unique attributes of a specific company. In valuing a privately held company, the COVID-19…

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$155M Funding Available for NJ Long-Term Care Facilities

Yesterday New Jersey Governor Phil Murphy, Department of Health (DOH) Commissioner Judith Persichilli, and Department of Human Services Commissioner Carole Johnson announced that $155 million in relief funds will be provided to long-term care facilities.  The funding will assist the facilities with the implementation of a new DOH directive focused on safely reopening long-term care…

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Additional $15M in CARES Act Funding to be Distributed by the NJEDA

On August 11, the New Jersey Economic Development Authority (NJEDA) approved $15.3 million in CARES Act funding through their Small Business Assistance Grant Program. The purpose of adding the additional funding to this program is to provide assistance to businesses located in twelve New Jersey counties that did not receive direct funding from the federal…

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FUNDING ALERT: NJRA SMALL BUSINESS LEASE EMERGENCY ASSISTANCE GRANT PROGRAM

In response to the COVID-19 pandemic, the New Jersey Redevelopment Authority (NJRA) announced a $6 million grant program that allows businesses in 64 eligible municipalities that have been adversely affected by the virus to apply for grants of up to $10,000 to assist with lease payments. The program is targeted toward businesses with less than…

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SBA Issues Procedural Notice for PPP Lender Forgiveness Reviews & Submissions

On July 23rd, the Small Business Administration (SBA) issued the following Procedural Notice regarding the process which lenders must follow in their review of your Paycheck Protection Program (PPP) forgiveness application and how they will interface with the SBA to request reimbursement for loans that they approve for forgiveness. View the Procedural Notice here –…

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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…

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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…

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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.…

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