In May, I sat down with Jason Howell to discuss the process of estate planning and why it is important that families “begin the begin”. Check out the podcast/video recording of our time together. #estateplanning #incapacityplanning #beginthebegin
I recently spent time with two friends, who happen to be financial advisors, where we discussed the proposed tax reform legislation and what it means for estate planning now and in the future. A link to the podcast is here. Enjoy listening! #estateplanning #legacyplanning #taxplanning #taxreform
Wishing you and yours a peaceful, joyous and healthy New Year!
THANK YOU FOR YOUR SUPPORT THIS PAST YEAR. WISHING YOU AND YOURS A WONDERFUL AND PEACEFUL THANKSGIVING!
In case you missed the virtual seminar this week on “Navigating Private Philanthropy During a Pandemic”, the recording can be found HERE and ask yourself, what will you do with your charitable dollars this year?
If you are looking to learn more about charitable giving and the options to engage in 2020, then please join me for a panel discussion on July 15, 2020 at 3:00 p.m. More information can be found here and below.
Here is a roundup of the June news from the Odin, Feldman & Pittlemen, P.C. COVID-19 Resource Center and about new Virginia statutes.
On June 3, 2020, the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act) was unanimously approved by the Senate, after overwhelming approval by the House last week. Under the PPP Flexibility Act, which is expected to be signed into law by the President, the CARES Act was amended to provide additional flexibility to borrowers. The highest profile change is to the definition of “covered period,” which now shifts from eight weeks from loan origination to the earlier of 24 weeks or Dec. 31, 2020.
Learn more about the PPP Flexibility Act from Shareholder Michelle DiCintio by CLICKING HERE.
In an attempt to make chapter 11 more streamlined and less expensive for debtors, Congress amended the bankruptcy code to add a brand new reorganization chapter: Subchapter V. Subchapter V is available exclusively to small-business debtors and provides a new option that is intended to be quicker and cheaper; it also offers less oversight and fewer reporting requirements than a traditional chapter 11 case. Congress originally made the new Subchapter V option available to all businesses with $2.7 million or less in aggregate secured and unsecured non-contingent and liquidated debt. That amount was increased to $7.5 million for the rest of 2020 under the CARES Act.
Learn more from OFP Attorney Brad Jones: CLICK HERE.
Earlier this month the Small Business Administration (SBA) and Department of Treasury streamlined the path to applying for loan forgiveness under the Paycheck Protection Program (PPP), the lifeline extended to small businesses suffering financial pressures resulting from the COVID-19 pandemic. A revised loan forgiveness application and a new EZ version of the form are designed to slash the layers of paperwork, documentation and calculations required to request loan forgiveness. New instructions for Borrowers were also issued for both the Revised Form and the EZ Form.
Learn more from OFP Shareholder Michelle DiCintio.
Spring brought significant changes to Virginia’s employment law landscape. Virginia Governor Ralph Northam recently signed a series of new employee-centric laws, including the ones intended to fight against worker misclassification.
Learn more from OFP Shareholder Sara Sakagami: CLICK HERE.
