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Governor Phil Murphy and Lt. Governor Sheila Oliver announced $5 million in funding for Phase 2 of the Small Business Lease Emergency Assistance Grant Program, which provides grants up to $10,000 for small businesses and nonprofits that have been impacted by COVID and are located in the New Jersey Redevelopment Authority’s 66 designated communities. The application process for…

Dominic Hulick, CAMS, Supervisor & Kyle Dennerlein, CAMS, CCBP, Senior BSA Analyst of Mercadien’s Financial Institutions Services Group presented a webinar The Growing Landscape of Cannabis Banking on Wednesday, February 3rd. During the webinar, they went over: How to implement the proper tools & programs to successfully manage MRB customers The framework of an MRB &…

Managing Directors Sherise D. Ritter, CPA & Kyle A. Neeld, CPA, Managers Matthew Smierciak, CPA & Elizabeth LaCorte, CPA & Financial Consultant Caitlin Kolczynski, CFP® of Mercadien’s COVID Consulting Services Group presented a webinar Paycheck Protection Program Round 2 & Other Extended Benefits on Wednesday, February 3rd. During the webinar, they went over: Key points of the CAA…

We have received many questions about the updated employee retention credit.  This article will take you through the highlights and hopefully answer some of the questions we’ve gotten on this subject.  The Consolidated Appropriations Act, (CAA) enacted on December 27, 2020, changed several provisions, involving the employee retention tax credits first implemented under the CARES…

Ken Kamen, Mercadien Asset Management President, is featured in USA Today’s news article, GameStop-Robinhood revolution: Stock frenzy echoes anti-establishment anger behind Trump rise, Capitol riot by Michael Collins, Jessica Guynn and Sarah Elbeshbishi. Article Exerpt:  Small investors banding together on social media are taking on big investment firms by running up the stock price of GameStop, a…

Successful tax planning does not just require arranging one’s affairs to take advantage of current tax laws. It also requires anticipating changes that may occur so that you do not get caught with a plan that just does not work. The election is now behind us and we know that Democrats control the White House,…

Much has changed for businesses since the COVID-19 pandemic began almost a year ago in March 2020.  One of the biggest changes has been the introduction of remote working in the business environment.  Remote working has provided many unanticipated benefits, like more time with the family and less time commuting. While there are benefits to…

NJEDA Announces $10 Million Second Phase of the Small Business Emergency Assistance Loan Program On Wednesday, January 27th, The New Jersey Economic Development Authority (NJEDA) announced it will open pre-registration for Phase 2 of its Small Business Emergency Assistance Loan Program at 9:00 a.m. EST on Wednesday, February 10, 2021. The $10 million program expansion…

Does your organization receive donated goods or services? If so, accounting for these donated goods or services will be subject to new accounting guidance. In September 2020, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2020-07, which applies to nonprofit organizations that receive contributions of nonfinancial assets, also referred to as gifts-in-kind…

The impacts of the COVID-19 pandemic in 2020 have forced us and our tax-exempt (and for-profit) clients to grapple with rapidly changing work environments, economic climates, and regulatory and compliance landscapes. The IRS Tax Exempt and Government Entities (TE/GE) Division is not immune from this rapidly changing environment either! The TE/GE recently released its fiscal…