Business and International Tax Blog

The COVID-19 pandemic is having an unprecedented financial impact on many small and large businesses. The uncertainty surrounding how long the crisis will continue and the ultimate impact on the economy has business owners critically reviewing their operational and financial needs. For many, now may be a time to consider selling non-core assets in an effort to generate liquidity and reduce cost. The following are some general recommendations for businesses considering a sale.

I)   Identify Eligible Assets

     1. Consider the costs required to maintain, in the short and long-term, all ...

Facing a growing number of COVID-19 cases in Georgia, Governor Brian Kemp issued an Executive Order on April 2, 2020 directing residents and visitors of Georgia—with some exceptions—to “shelter in place” until at least April 13, 2020 (unless extended further). The Shelter-in-Place Order supersedes all prior city and county executive orders, thus creating state-wide uniformity.

Businesses and persons performing work related to “Critical Infrastructure” are not required to “shelter in place,” although they still must comply with other health- and ...

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act" or the "Act") was signed into law. The CARES Act, among other things, provides certain employers (generally, those with 500 or fewer employees, discussed below) an opportunity to apply for an SBA loan of up to $10 million to cover payroll costs and other operation expenses. Our previously published summary of the Paycheck Protection Program loans ("PPP Loans") under the CARES Act is accessible here.

Last week, the Small Business Administration issued guidance, Interim Final Regulations ...

The COVID-19 pandemic is having a devastating impact on businesses and the employees they support. Mass lockdowns and rapid changes in consumer and company spending are forcing businesses to scale back and implement drastic measures in an effort to survive. As businesses await clarity on how long the pandemic will last, and what local and national government will be able to do to support them, business owners can take general steps now to better position their business to handle an uncertain future.

1.  Employee Concerns 

      Employees receive constant information about the pandemic and ...