Month: June 2021
Biden Tax Plan 101 – Understand the changes you need to know, in minutes
Written by Rock Fusco & Connelly’s trusted advisors at Dugan & Lopatka CPAs A new administration almost always means changes to the tax code, and President Biden is no exception. President Biden’s ambitious new tax plan proposes numerous changes across the board— for individuals, businesses, nonprofits, and entire industries. Some of these changes will almost
Using Mergers and Acquisitions to Grow Your Company’s Value
This is the first installment in a three-part series Rock Fusco & Connelly, LLC will be publishing on using M&A transactions to maximize and grow your company’s value. This first part will help you understand a simplified valuation methodology (earnings before interest, taxes, depreciation, and amortization (or, “EBITDA”)), and how to increase EBITDA and its
Eviction Moratorium to Be Phased Out, Rental Relief Program Begins
At the end of May, Governor Pritzker signed a bill that expands rental assistance for Illinois households. The new law creates a $1.5 Billion rental relief program to aid families and individuals with unpaid rental debt from the COVID-19 pandemic. Pritzker’s eviction moratorium went into effect in March of 2020 and has prevented mass evictions
Chicago Employers Must Permit Time Off For COVID-19 Vaccination
In April, the City of Chicago enacted the Chicago COVID-19 Vaccine Anti-Retaliation Ordinance (the “Ordinance”). The Ordinance affords workers certain protections designed to safeguard access to a COVID-19 vaccination by restricting the conduct of employers, defined “any person or entity that engages in the services of one or more individual for payment.” The Ordinance establishes
Things to Know about PPP Loan Forgiveness
The Paycheck Protection Program (“PPP”), a key component of federal relief efforts during the COVID-19 pandemic, has been utilized by many small businesses to cover payroll and other expenses via low-interest loans. Two rounds of PPP loans were disbursed over the course the pandemic, most recently in March of 2021. As the crisis nears its
New CDC Guidelines: No Mask for the Fully Vaccinated
On May 13, the Centers for Disease Control and Prevention (the “CDC”) released new COVID-19 guidelines for those who are fully vaccinated. If you have been fully vaccinated, the CDC is now saying that you can resume activities that you did prior to the pandemic. You can also resume activities without wearing a mask or
Biden Administration Begins to Implement Sweeping Anti-Money Laundering and Counterterrorism Changes
Several critical – but often overlooked – provisions of the 2021 National Defense Authorization Act (the “NDAA”) will begin to take shape in the coming months. Aside from allocating the annual defense budget, this year’s NDAA contained the Anti-Money Laundering Act of 2020 (“AMLA”), the Corporate Transparency Act (“CTA”), the Combatting Russian Money Laundering Act