The previous post on the third round of funding for the Paycheck Protection Program covered the big stuff – the necessity test, qualifications for taking out a second loan, and the latest attempt at simplified forgiveness. Here in Part 2, I’ll be going over the finer details, including EIDL advances, expense deductions, the ERTC, and other notes and restrictions.

Covered Period

The Act will permit you to select your covered period (i.e., the period in which you must spend the PPP loan funds).  The covered period must be greater than eight weeks and not more than twenty-four weeks beginning from the date of disbursement.

Continue Reading Paycheck Protection Program Take Three? – Part 2

2020 has certainly been an interesting year.  Thankfully, it is ending with a new federal act aimed at relieving businesses, industries, and individuals affected by the COVID-19 pandemic.  It is known as the Consolidated Appropriations Act, 2021.

This Act consists of more than just a stimulus package. It also contains funding for the government through most of 2021.  My previous post, Finally, More Money! – The Consolidated Appropriations Act, 2021, covered a broad overview of the stimulus package.  This post will discuss the third round of the popular Paycheck Protection Program (PPP).

While this is the third round of funding for the PPP, it is only the second time a single business may apply for that funding. The second round of PPP funding went to qualifying businesses that missed out on money the first time.

Continue Reading Paycheck Protection Program Take Three? – Part 1

It must be a Christmas miracle.  After deadlocking this summer and delaying over the weekend, the United States Senate and the House of Representatives have agreed to additional aid to those impacted by the COVID-19 pandemic.  The President has also signed this new bill, known as the “Consolidated Appropriations Act, 2021” (the “Act”).

The Act is approximately 5,000 pages long, so a detailed analysis will take some time.  Therefore, this post is not intended to be comprehensive, and many items are still being hammered out. Here’s what we know so far:

The Bare Bones

The Act consists of $900 billion in aid and was a compromise between the two parties.  As such, it is not perfect. There are some aspects of the Act that both sides of the aisle are criticizing.

Continue Reading Finally, More Money! – The Consolidated Appropriations Act, 2021

It’s only been a few hours since the Governor and the Secretary of Health announced that the state is imposing a limitation on the sale of alcohol on Wednesday, November 25, 2020.  What does this mean and who does it apply to?

On-Site Alcohol Consumption Must End at 5:00 pm

The Order provides that all sales or service of alcohol for on-site consumption must cease no later than 5:00 p.m. on November 25th.  It goes on to provide that no customer may possess alcoholic beverages within the business after 6:00 p.m. This includes:

Continue Reading Restriction of On-Site Alcohol Sales for Wednesday, November 25

On October 29, 2020, Governor Wolf signed into law House Bill 2370, which will permanently permit the use of remote notarization in Pennsylvania.  Before the passage of this bill, Pennsylvania did temporarily permit the use of remote notarization during the COVID-19 pandemic.

What is Remote Notarization?

Remote notarization is the notarizing of legal documents

On October 8, 2020, the Small Business Administration (“SBA”) announced that they were making applying for forgiveness for Paycheck Protection Program loans (the “PPP”) easier for some borrowers.  The PPP program itself had two rounds of funding, including $310 billion added at the end of April. Now, borrowers who borrowed $50,000 or less in

It’s been another busy few days for the industry. Today’s hospitality update delves into what House Bill 2513 would and wouldn’t do, booking events with Governor Wolf’s restrictions still in limbo, and whether there’s personal liability attached to restaurant self-certification.

House Bill 2513

If you recall from my previous post, House Bill 2513 is

Given all the crazy twists and turns over the past few months, I keep thinking that things cannot get more difficult or confusing for folks in the hospitality industry…

Clearly, I need to stop saying that. It somehow keeps getting worse.

To say this has been an interesting couple of weeks is a pretty serious