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Isdaner News

Hobby or Business? How to Treat COVID-19 Sideline Activities for Taxes

August 3, 2020

Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs.…

Take Advantage of “Stepped Up Basis” When You Inherit Property

August 3, 2020

If you’re planning your estate, or you’ve recently inherited assets, you may be unsure of the “cost” (or “basis”) for…

Mitch Gerstein quoted in article by Jeff Blumenthal about PPP forgiveness questions still need more answers.

July 28, 2020

PPP forgiveness questions still plague lenders, borrowers — and there’s not always answers

IRS Issues FAQs on Identity Protection Personal Identification Numbers

July 28, 2020

On its website, the IRS has issued a series of FAQs concerning Identity Protection Personal Identification Number (IP PINs). Background.…

Mitch Gerstein quoted in article by Gene Marks about business owners that took PPP loans may face tax issues

July 24, 2020

Many businesses have suffered during this economic downturn caused by the coronavirus pandemic. You’ve read about them in the media.…

Protective Refund Claim – Affordable Care Act

July 9, 2020

Earlier this year, the Supreme Court agreed to hear a case regarding the Patient Protection and Affordable Care Act (ACA).…

Deadline Extended to Apply for PPP Loans

July 6, 2020

On July 4th, President Trump signed into law a temporary extension to apply for the Paycheck Protection Program (PPP). The…

What qualifies as a “coronavirus-related distribution” from a retirement plan?

July 1, 2020

As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain…

Good records are the key to tax deductions and trouble-free IRS audits

July 1, 2020

If you operate a small business, or you’re starting a new one, you probably know you need to keep records…

The strategy of delaying tax payments

June 30, 2020

Mitch Gerstein, senior tax advisor, is quoted in the Philadelphia Inquirer article by Gene Marks about the strategy of delaying…

IRS Provides Guidance on the CARES Act Waiver of RMDs

June 30, 2020

The IRS has issued new guidance on the Coronavirus Aid, Relief, & Economic Security (CARES) Act waiver of required minimum…

PPP Early Loan Forgiveness Applications

June 25, 2020

Many small businesses have inquired about whether they can apply for Paycheck Protection Program (PPP) loan forgiveness before their covered…

Names of Many PPP Loan Borrowers to be Made Public

June 22, 2020

The Small Business Administration (SBA) and Treasury have agreed to publish the names and amount ranges for all recipients of…

New Improved User-Friendly PPP Loan Forgiveness Applications & PPP Forgiveness Limits Revised

June 18, 2020

The Small Business Administration (SBA) and the Treasury Department launched an improved user-friendly forgiveness application for the Paycheck Protection Program…

Back by Popular Demand: EIDL Loans & Advances

June 17, 2020

The Small Business Administration (SBA) announced they will restart on June 15 the processing of already submitted Economic Injury Disaster…

Latest Update: New PPP Interim Final Rule

June 11, 2020

The Small Business Administration (SBA) on June 10 published a new Interim Final Rule (IFR) incorporating provisions of the Paycheck…

Isdaner accountant Mitch Gerstein – latest fraud victim

June 11, 2020

Mitch Gerstein, senior tax advisor at Philadelphia area accounting firm Isdaner & Company is busy working with clients so he…

PA Offers $225 Million in Grants & Other Relief to Small Businesses & Taxpayers Impacted by COVID-19

June 10, 2020

On Monday June 8, Governor Tom Wolf announced a $225 million statewide grant program to small businesses impacted by the…

Congress Updates PPP Loan Rules & Makes Them More Business Friendly

June 8, 2020

Read the article by Philadelphia Inquirer reporter, Erin Arvedlund about the latest updates. Mitch Gerstein is quoted in the article.

Welcome News: Paycheck Protection Program Flexibility Act of 2020 Signed into Legislation

June 5, 2020

The Paycheck Protection Flexibility Act of 2020 (Bill H.R. 7010) was approved by both the House of Representatives and the…