Richard S. Calabrese, Jr., is an attorney in the Firm’s Estate Planning & Administration of Estates & Trusts, Corporate Business & Banking and Taxation groups. Also a Certified Public Accountant (CPA), Mr. Calabrese’s primary practice area involves assisting clients with various business, transactional and tax matters. Mr. Calabrese also handles complex business and federal, local and state tax matters such as income tax planning, tax controversy assistance, sales tax exposure management, restructuring regarding acquisitions, organization simplifications and tax planning for estates and trusts.
The economic situation in our country is changing dramatically, creating some turmoil, but also providing opportunities for innovation. One area of increasing importance to forward-looking businesses is alternative compensation models for employees. Generally speaking, employees in service businesses are compensated with a set salary, discretionary bonus and an annual 2-5% raise based on performance. Savvy […]
On July 23, 2020, the Small Business Administration (SBA) issued a procedural notice to lenders participating in the Paycheck Protection Program (PPP) concerning the loan forgiveness application process. The notice informs lenders that beginning August 10, 2020, they may begin submitting forgiveness applications through an online platform. The notice states that the SBA intends to […]
On July 16, 2020, Pennsylvania Governor Tom Wolf announced the availability of $50 million in grant funding to assist employers in providing hazard pay to employees performing life-sustaining jobs during the COVID-19 pandemic. The intent of the COVID-19 Hazard Pay Grant Program (Program) is to ensure that front-line employees in vital industries are able to […]
Rising COVID cases in counties across Pennsylvania led Governor Tom Wolf and Secretary of Health Dr. Rachel Levine to implement targeted mitigation efforts. These efforts, which went into effect the morning of Thursday, July 16, 2020, reimpose limits on gatherings and reemphasize the importance of telecommuting. Here is how the order breaks down: The food […]
On July 4, 2020, President Trump signed a new law extending the deadline for applying for a Paycheck Protection Program (PPP) loan to August 8, 2020. As the program was initially set to expire on June 30th, this extension provides potential borrowers additional time to access the program under its existing terms. Currently, it is […]