Tax Credits for Employers Available until September 30, 2021
The American Rescue Plan Act (ARPA) of 2021, signed on March 11, 2021, extends the expiration date of the employment tax credits under the Families First Coronavirus Response Act (FFCRA) until September 30, 2021. Employers are no longer required to provide emergency …
FAQ Regarding SBA Expanded EIDL Program
The U.S. Small Business Administration (SBA) recently announced that it is quadrupling the Economic Injury Disaster Loan (EIDL) cap from $500,000 to $2 million. Answers to many questions pharmacy owners have regarding the EIDL can be found in the new FAQ Regarding …
Congress Approves $900B Bill for COVID Relief, Awaiting President’s Signature
NOTE: This article was written prior to President Trump signing the bill. Congress approved a $900 billion bill for additional COVID relief. Below are key takeaways pharmacy owners should be mindful of as they do last minute planning. Paycheck Protection Program (PPP) …
HHS Provider Relief Fund Deadlines and Reporting Requirements
The National Community Pharmacists Association has just published a new resource about the Provider Relief Fund (PRF). This whitepaper, prepared for NCPA by Sykes & Company, P.A. in collaboration with law firm Brown & Fortunato, provides details on updated PRF reporting requirements …
Structuring COVID-19 Protocols for Pharmacies
In this whitepaper, prepared by Jeffrey S. Baird, Esq., and Bradley W. Howard, Esq. from the Health Care Group of Brown & Fortunato, P.C. law firm, read about controls that an independent pharmacy needs to protect the health and safety of patients …
Pharmacies May Fall Under CMS IFR and OSHA Rules for Mandated COVID-19 Vaccinations
The Centers for Medicare and Medicaid Services (CMS) and OSHA have issued new rules for mandated COVID-19 vaccinations, testing and mask wearing for certain employers beginning in December 2021. A whitepaper by Brown & Fortunato, P.A. law firm outlines how these new …
CARES Act and Employer-Provided Education Assistance
The CARES Act added a provision to an existing code section that allows an employee to receive, on a tax-free basis, up to $5,250 each year from his or her employer for expenses associated with a “qualified educational assistance program”. This assistance …
How the CARES Act Can Improve Cash Flow and How to Act On It Webinar
Scotty Sykes, CPA, CFP® and Ollin Sykes, CPA.CITP, CMA created a webinar for the National Community Pharmacists Association on how the CARES Act provides relief for your independent pharmacy. Watch as they summarize the bill and outline ways you can utilize the …
Looking Ahead – PPP Loan Forgiveness
The Paycheck Protection Program (PPP) application was relatively easy – send the bank documentation, certify the information is correct and that your pharmacy has been negatively impacted by COVID-19, calculate your “payroll costs”, which was anyone’s guess, and complete the three-page application. …
Federal Reserve – Main Street Lending Program
Another provision within the CARES Act is the Main Street Lending Program which is designed for small and medium-sized businesses. This program is different from the Paycheck Protection Program, or PPP, that has taken the small business community by storm these past …