Arnold M. Mayberg, CPA, PC

Arnold M. Mayberg, CPA, PC provides a comprehensive range of accounting, taxation and business servi Our primary aim is to work with our clients to improve profitability and minimize taxation.

With our technology and expert research, we ensure that our clients can comply with statutory requirements in the most efficient way. We can make recommendations and offer opportunities that will enhance your businesses and investments. Our team of qualified professionals undertake ongoing professional development. This means that you will be kept informed of legislative changes and developments

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Biden signs PPP deadline extension into law 03/31/2021

Biden signs PPP deadline extension into law

Paycheck Protection Program deadline extended, funding expected to last until mid-April.
https://www.journalofaccountancy.com/news/2021/mar/senate-passes-ppp-application-deadline-extension.html

Biden signs PPP deadline extension into law The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law.

IRS extends additional tax deadlines for individuals to May 17 | Internal Revenue Service 03/31/2021

IRS extends additional tax deadlines for individuals to May 17 | Internal Revenue Service

https://www.irs.gov/newsroom/irs-extends-additional-tax-deadlines-for-individuals-to-may-17

IRS extends additional tax deadlines for individuals to May 17 | Internal Revenue Service IR-2021-67, March 29, 2021 — The Internal Revenue Service today announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund.

FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote Equitable Access to Relief | The White House 02/23/2021

FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote Equitable Access to Relief | The White House

President Offers Exclusive PPP Application to Small Businesses -
Application period opens Wednesday, Feb. 24

President Biden released a fact sheet on increasing lending to small businesses in need and changes to the PPP to further promote equitable access to relief. The fact sheet announces several changes to the PPP, including a 14-day period, starting Wednesday, Feb. 24, during which only businesses with fewer than 20 employees can apply for PPP funding. The 14-day exclusive application period will allow lenders to focus on serving these small businesses, according to the National Association of Tax Professionals.

The fact sheet also notes that the administration is reviewing how to revise the loan calculation to allow sole proprietors to receive additional funding from the program. In addition, there will be forthcoming guidance for small business owners that use an Individual Taxpayer Identification Numbers (ITINs) to apply for relief.
https://www.whitehouse.gov/briefing-room/statements-releases/2021/02/22/fact-sheet-biden-harris-administration-increases-lending-to-small-businesses-in-need-announces-changes-to-ppp-to-further-promote-equitable-access-to-relief/

FACT SHEET: Biden-Harris Administration Increases Lending to Small Businesses in Need, Announces Changes to PPP to Further Promote Equitable Access to Relief | The White House Small businesses account for 44 percent of U.S. GDP, create two-thirds of net new jobs, and employ nearly half of America’s workers. Now, millions of main street small businesses – especially Black- and Brown-owned small businesses – are struggling to make ends meet in the wake of the COVID-19...

The executive's desk: Patience and simplicity help in PPP process 02/08/2021

The executive's desk: Patience and simplicity help in PPP process

https://www.abqjournal.com/2357158/the-executives-desk-patience-and-simplicity-help-in-ppp-process.html?utm_source=email-a-story&utm_medium=email&utm_campaign=email-a-story

The executive's desk: Patience and simplicity help in PPP process As we approach the one-year mark of the pandemic in the United States, calling the last 12 months un ...

Banks press Treasury, SBA to fix 'systemic' small business loan glitches 01/26/2021

Banks press Treasury, SBA to fix 'systemic' small business loan glitches

https://www.politico.com/news/2021/01/25/sba-banks-paycheck-protection-program-462354

Banks press Treasury, SBA to fix 'systemic' small business loan glitches Banks on Monday warned the Biden administration that the restart of the government's massive small business rescue program is facing significant operational problems.

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ 10/03/2020

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ

The deadline for this second round of funding for landlords is Oct. 13.

https://covid19.nj.gov/faqs/nj-information/assistance-and-benefits/is-there-any-financial-support-available-to-landlords-whose-tenants-missed-rent-payments?utm_campaign=20201001_nwsltr_b&utm_medium=email&utm_source=govdelivery

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ in Is there any financial support available to landlords whose tenants missed rent payments?.

Middlesex County Small Business Relief Grant 08/20/2020

Middlesex County Small Business Relief Grant

Middlesex restaurants that were open only for curbside pickup are likely eligible for this Small Business Relief Grant. Note "partially open" in your application. Qualifying small businesses may be eligible for up to $30,000. Call or email us with any questions at 609-655-4263 or [email protected].

http://www.middlesexcountynj.gov/Government/Departments/BDE/Pages/Small-Business-Relief-Grant-CDBG.aspx

Middlesex County Small Business Relief Grant To make an appointment to be tested for COVID-19 at one of the County’s free testing sites, please click here to fill out a form. All Middlesex County buildings will remain closed to the general public until further notice.

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ 08/09/2020

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ

New Jersey offers funding to certain landlords so they can forgive rents this spring:
https://covid19.nj.gov/faqs/nj-information/assistance-and-benefits/is-there-any-financial-support-available-to-landlords-whose-tenants-missed-rent-payments

Is there any financial support available to landlords whose tenants missed rent payments? | FAQ in Is there any financial support available to landlords whose tenants missed rent payments?.

Department of Labor and Workforce Development | Labor Department Offers Extended Benefits to Unemployed NJ Workers 07/07/2020

Department of Labor and Workforce Development | Labor Department Offers Extended Benefits to Unemployed NJ Workers

https://www.nj.gov/labor/lwdhome/press/2020/20200701_20weekextension.shtml

Department of Labor and Workforce Development | Labor Department Offers Extended Benefits to Unemployed NJ Workers Labor Department Offers Extended Benefits to Unemployed NJ Workers

06/26/2020

www.nj.gov

Even though the economy has been opening up in New Jersey, the New Jersey Department of Labor appears to be saying that PUA (Pandemic Unemployment Assistance) will provide benefits to those who continue to find it unsafe to return to work because of COVID-19. It appears there may be an avenue of relief regarding the need to "accept an offer of suitable work" that is more lenient that regular Unemployment Insurance rules, according to the fact sheet linked here:
https://www.nj.gov/labor/assets/PDFs/returntowork_guidelines.pdf

www.nj.gov

SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program 06/16/2020

SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program

https://www.forbes.com/sites/allbusiness/2020/06/15/sba-opens-up-new-grants-and-loans-for-small-businesses-and-independent-contractors-eidl-program/

SBA Opens Up New Grants And Loans For Small Businesses And Independent Contractors: The EIDL Program The SBA announced it is again opening up its Economic Injury Disaster Loan (EIDL) grant and loan program to help those affected by the coronavirus pandemic.

IRS will waive fee for replacing discarded stimulus payment cards 06/13/2020

IRS will waive fee for replacing discarded stimulus payment cards

https://www.accountingtoday.com/news/irs-will-waive-fee-for-replacing-discarded-stimulus-payment-cards

IRS will waive fee for replacing discarded stimulus payment cards The Internal Revenue Service won’t charge people who threw their stimulus money away because they thought the envelope was junk mail.

N.J. promises more help on unemployment benefits, says workers have right to refuse work if conditions are not safe 06/11/2020

N.J. promises more help on unemployment benefits, says workers have right to refuse work if conditions are not safe

https://www.nj.com/coronavirus/2020/06/nj-promises-more-help-on-unemployment-benefits-says-workers-have-right-to-refuse-work-if-conditions-are-not-safe.html

N.J. promises more help on unemployment benefits, says workers have right to refuse work if conditions are not safe Labor Department Commissioner Robert Asaro-Angelo appeared at the governor's daily briefing.

SBA announces PPP loan forgiveness amendments 06/10/2020

SBA announces PPP loan forgiveness amendments

https://www.bicycleretailer.com/industry-news/2020/06/08/sba-announces-ppp-loan-forgiveness-amendments#.XuAmFTpKg2w

SBA announces PPP loan forgiveness amendments WASHINGTON (BRAIN) — The Small Business Administration announced Monday modifications to the Paycheck Protection Program to make it easier to qualify for loan forgiveness as businesses attempt to recover from the hardship of the COVID-19 pandemic.The PPP Flexibility Act extends the coverage period...

Trump signs bill changing Paycheck Protection Program into law 06/07/2020

Trump signs bill changing Paycheck Protection Program into law

https://www.marketwatch.com/story/senate-oks-tweaks-to-small-business-lending-program-bill-goes-to-trump-for-signature-2020-06-03

Trump signs bill changing Paycheck Protection Program into law President Donald Trump on Friday signs into law a bill easing conditions for small businesses tapping the government’s Paycheck Protection Program, with his...

House passes bill to extend 8 week period to spend PPP loans and alter the 75% rule 05/29/2020

House passes bill to extend 8 week period to spend PPP loans and alter the 75% rule

https://fortune.com/2020/05/28/house-bill-ppp-extension-8-weeks/

House passes bill to extend 8 week period to spend PPP loans and alter the 75% rule The near-unanimous vote passed legislation that would make the PPP loans more flexible for small businesses; similar legislation failed to pass the Senate last week.

05/27/2020

www.njeda.com

New Jersey has a new program to help small businesses affected by COVID-19.

https://www.njeda.com/pdfs/NJEDA_COVID-19_Economic-Response-Package-Initial-W

www.njeda.com

5 Simple Ways to Make Your Gmail Inbox Safer 05/24/2020

5 Simple Ways to Make Your Gmail Inbox Safer

https://www.wired.com/story/5-tips-gmail-security-privacy/

5 Simple Ways to Make Your Gmail Inbox Safer These built-in features definitely protect your data, but they can help keep your inbox tidy too.

N.J. failed to fix unemployment system for 19 years, records show. Now Murphy pleads patience. 05/14/2020

N.J. failed to fix unemployment system for 19 years, records show. Now Murphy pleads patience.

https://www.nj.com/coronavirus/2020/05/nj-failed-to-fix-unemployment-system-for-19-years-records-show-now-murphy-pleads-patience.html

N.J. failed to fix unemployment system for 19 years, records show. Now Murphy pleads patience. About 1.1 million unemployment claims have been filed in just two months, and the system can't handle the surge.

Department of Labor and Workforce Development | NJ Labor Department to Begin Making Pandemic Unemployment Assistance Payments This Week 04/30/2020

Department of Labor and Workforce Development | NJ Labor Department to Begin Making Pandemic Unemployment Assistance Payments This Week

SELF-EMPLOYED TO BEGIN TO RECEIVE NOTICE OF UNEMPLOYMENT BENEFITS

https://www.nj.gov/labor/lwdhome/press/2020/20200429_puapayments.shtmlhttps://www.nj.gov/labor/lwdhome/press/2020/20200429_puapayments.shtml

Department of Labor and Workforce Development | NJ Labor Department to Begin Making Pandemic Unemployment Assistance Payments This Week NJ Labor Department to Begin Making Pandemic Unemployment Assistance Payments This Week

04/25/2020

FOR SELF-EMPLOYED SEEKING UNEMPLOYMENT
The Pandemic Unemployment Assistance (PUA) instruction sheet from New Jersey says you don't need to apply again if you successfully submitted your claim before that program was in effect. Sen. Linda Greenstein's aide said the self-employed must first be denied unemployment before their case is reconsidered. But if you did get an "e-Adjudication" email in response to your claim, with a link where you can upload additional information, including proof of income, such as a tax return, I'd say do it. That email would have come a day or two after you first applied. The rules are changing and people I have helped are getting different email responses. I would also sign on to your account on myunemployment.nj.gov and see if there is a claim status available. If it says your benefit is zero, you need to upload your proof of income. If you do get that initial determination of zero benefit, you need to sign on to myunemployment.nj.gov and certify your claim each week, even though the exact benefit has not been determined. Also, we are hoping, based on the New Jersey fact sheet, that self-employed people who have zero or negative income may still be eligible for a $231 a week. We have been encouraging our clients in that situation to apply. If you have any other questions, you can reach out to [email protected]. We will post more information as it becomes available.

04/22/2020

myunemployment.nj.gov

UNEMPLOYMENT FOR NJ SELF-EMPLOYED
Self-employed workers can file for New Jersey unemployment through the Pandemic Unemployment Assistance program. The state Department of Labor says that the minimum payment will be $231 a week for 39 weeks, plus $600 a week for 13 weeks. The payments may be backdated to Feb. 5, 2020. Even businesses with a loss may qualify. Please call the offices of Arnold M. Mayberg, CPA, PC, at 609-655-4263 or email [email protected] or [email protected] for help applying or more information.

https://myunemployment.nj.gov/labor/myunemployment/independentcontractors.shtml

myunemployment.nj.gov

If you’re a gig worker, freelancer or self-employed, here’s how you can get unemployment benefits 04/15/2020

If you’re a gig worker, freelancer or self-employed, here’s how you can get unemployment benefits

This is news to me. It appears to say self-employed businesses operating at a loss still qualify for a minimum payment of $231 per week in unemployment benefits.
https://www.nj.com/coronavirus/2020/04/if-youre-a-gig-worker-freelancer-or-self-employed-heres-how-you-can-get-unemployment-benefits.html

If you’re a gig worker, freelancer or self-employed, here’s how you can get unemployment benefits The N.J. Department of Labor has given new guidance to these workers, who have become frustrated by delays.

04/14/2020

The $10,000 Economic Injury Loan is limited to a $1,000 per employee as of 1/31/20 (number of pre disaster employees)
On March 29, 2020, following the passage of the CARES Act, the SBA provided small business owners and non-profits impacted by COVID-19 with the opportunity to obtain up to a $10,000 Advance on their Economic Injury Disaster Loan (EIDL). The Advance is available as part of the full EIDL application and will be transferred into the account you provide shortly after your application is submitted. To ensure that the greatest number of applicants can receive assistance during this challenging time, the amount of your Advance will be determined by the number of your pre-disaster (i.e., as of January 31, 2020) employees. The Advance will provide $1,000 per employee up to a maximum of $10,000.
You may be eligible for another loan program, the Paycheck Protection Program, which is available through participating lenders.

Economic Impact Payments | Internal Revenue Service 04/13/2020

Economic Impact Payments | Internal Revenue Service

The IRS website allows nonfilers to enter economic impact payment info via this link. The IRS says a link on this page to check the status of your economic impact payment should be active by mid-April.

https://www.irs.gov/coronavirus/economic-impact-payments

Economic Impact Payments | Internal Revenue Service We’re committed to helping you get your economic impact, or stimulus, payment as soon as possible. See if you are eligible for an Economic Impact Payment.

04/11/2020

The IRS has extended the deadline for second-quarter estimated tax payments this year until July 15. This aligns these payments with the extension for first-quarter estimated tax payments, also July 15. To the best of our knowledge New Jersey has not changed its estimated tax filing deadlines. If anyone knows anything to the contrary, please feel free to let me know. You can contact me at [email protected].

How do I apply to the NJEDA Small Business Emergency Assistance Grant? (Applications open here April 3, 2020, at 9 a.m.) 04/03/2020

How do I apply to the NJEDA Small Business Emergency Assistance Grant? (Applications open here April 3, 2020, at 9 a.m.)

A grant program for New Jersey businesses with up to 10 employees starts taking applications Friday, April 3. The $5 million program will provide grants of up to $5,000 to small businesses in retail, arts, entertainment, recreation, accommodation, food service, and other services – such as repair, maintenance, personal, and laundry services. For help with this application and other COVID-19 emergency grants and loans, contact the offices of Arnold M. Mayberg, CPA, PC, at 609-655-4263, Concordia Shopping Center, or [email protected].

https://faq.business.nj.gov/en/articles/3835237-how-do-i-apply-to-the-njeda-small-business-emergency-assistance-grant-applications-open-here-april-3-2020-at-9-a-m

How do I apply to the NJEDA Small Business Emergency Assistance Grant? (Applications open here April 3, 2020, at 9 a.m.) In response to the economic challenges being faced by New Jersey Small and Medium sized businesses and non-profits (collectively “SMEs”), the New Jersey Economic Development Authority (NJEDA) has created the Small Business Emergency Assistance Grant Program. Apply to the Small Business Emergency...

04/02/2020

HELP FILING UNEMPLOYMENT FOR SELF-EMPLOYED AND OTHERS
We can help self-employed people, partners and others not normally able to collect unemployment secure benefits. (We can also help with individual claims, if needed.) Please call the offices of Arnold M. Mayberg, CPA PC at 609-655-4263 or [email protected].

04/01/2020

www.amboydirectbank.com

RULES FOR CORONAVIRUS EMERGENCY LOANS FOR SMALL BUSINESShttps://www.amboydirectbank.com/COVID/PPPUSChamber.pdf

www.amboydirectbank.com

N.J. state tax filing deadline extended from April 15 to July 15 04/01/2020

N.J. state tax filing deadline extended from April 15 to July 15

NJ EXTENDS TAX DEADLINE UNTIL JULY 15 https://www.nj.com/coronavirus/2020/04/nj-moves-income-tax-filing-deadline-to-july-15-because-of-coronavirus-crisis.html

N.J. state tax filing deadline extended from April 15 to July 15 New Jersey will postpone its tax filing deadline. Your federal tax filing deadline was postponed on March 20

SBA loans and related relief under the CARES Act – McAfee & Taft 03/30/2020

SBA loans and related relief under the CARES Act – McAfee & Taft

Many small business owners are eligible for loans from the Small Business Administration. A portion of the loans is eligible for loan forgiveness. This article is a good starting point in this regard.

https://www.mcafeetaft.com/sba-loans-and-related-relief-under-the-cares-act/

SBA loans and related relief under the CARES Act – McAfee & Taft © Copyright 2020 McAfee & Taft A Professional Corporation. All rights reserved. Please read our Privacy Policy, Website Accessibility Policy and Terms of Use. By using this site, you accept and agree to be bound by these terms.

IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program | Internal Revenue Service 03/25/2020

IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program | Internal Revenue Service

IRS extends deadline to make installment agreements, reach offers in compromise

The IRS announced it is suspending requirements to make payments on installment agreements until July 15. However, penalties and interest on any unpaid balances will continue to accrue. Also, taxpayers have until July 15 to reach offers in compromise.

https://www.irs.gov/newsroom/irs-unveils-new-people-first-initiative-covid-19-effort-temporarily-adjusts-suspends-key-compliance-program

IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program | Internal Revenue Service IR-2020-59, March 25, 2020 — To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions.

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service 03/25/2020

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service

An update: Form 1040 tax deadline for the IRS is 7/15/20. You may take an extension at that point, but need to pay balance due by then in order to avoid penalty and interest. At the moment, the 1st QTR estimated tax payment is postponed to 7/15/20, however the 2nd QTR payment is due as previously scheduled on 6/15/20. From what I have heard, there is a bill on the NJ governor's desk to postpone the NJ filing deadline till 6/30/20. This a fluid situation where things may change along the way. Keep smiling, stay safe, and clean out that closet of yours.
https://www.irs.gov/newsroom/filing-and-payment-deadlines-questions-and-answers?fbclid=IwAR32xY460a57DXQGxIFopq9KO5Y4Hgxa5wFxpLcuEsq93gYukYWRMaVdjP4

Filing and Payment Deadlines Questions and Answers | Internal Revenue Service In Notice 2020-18 (PDF), the Treasury Department and the Internal Revenue Service (IRS) announced special Federal income tax return filing and payment relief in response to the ongoing Coronavirus Disease 2019 (COVID-19) emergency. Below are answers to frequently asked questions related to the relie...

03/24/2020

With the extended tax deadline, taxpayers have until July 15 to fund 2019 IRAs.

In addition, all federal payments up to July 15 can be deferred. But per the IRS, penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020.

(corrected from original post) 1st QTR estimated tax payment (1040ES) due 7/15/20. 2nd QTR estimated tax payment due on 6/15/20 (original date)

This is the best information we have today. It may change as time goes by, in which case we will let you know.

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1600 Perrineville Rd Ste 21
Monroe, NJ
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