NYS Tax Treatment of Unemployment Compensation

The Federal American Rescue Plan Act of 2021 (ARP) includes a provision that allows certain individuals to exclude up to $10,200 of unemployment compensation received in 2020 from federal gross income. If your modified adjusted gross income (AGI) is less than $150,000, the new provision allows up to $10,200 of 2020 unemployment payments to be exempt from federal income tax. The exemption is per...

PPP Application Extension

On Tuesday, March 30 the President signed into law an extension for PPP applications pushing the deadline to apply from March 31 to May 31. With this, the SBA was provided additional time to process and authorize loans through June 30. Most banks have already prepared for this extension and will continue to accept PPP loan applications through the new extended deadline. If you have not applied for...

Restaurant Revitalization Fund 2021

The American Rescue Plan Act of 2021 establishes a $28.6 billion Restaurant Revitalization Fund within the SBA, which will provide eligible business with a tax-free federal grant based on revenue decline. What Businesses are Eligible? Eligible businesses include restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, brewpubs, tasting rooms,...

Restaurant Grant – SAM.gov Registration

**UPDATE: AS OF MARCH 30, 2021, THE SBA ANNOUNCED THAT RESTAURANT OWNERS WHO SEEK TO PARTICIPATE IN THE RESTAURANT REVILATIZATION FUND WILL NOT NEED TO SIGN UP FOR A SAM.GOV ACCOUNT OR BE REQUIRED TO HAVE A DUNS NUMBER. The American Rescue Plan Act of 2021 establishes a $28.6 billion Restaurant Revitalization Fund within the SBA, which will provide eligible business with a tax-free federa...

Hospitality Newsletter NYS/NYC Legal Edition June 2019

Hospitality Newsletter NYS/NYC Legal Edition June 2019   LEGAL UPDATE   Suffolk County Bans Salary History Questions Effective June 30, 2019, employers with 4 or more employees in Suffolk County may not: -Inquire, in any form of application or otherwise, about a job applicant’s wage or salary history, including but not limited to, compensation and benefits. - Rely on the salary histo...

Hospitality Newsletter – Sustainability Edition October 2018

Hospitality Newsletter Sustainability Edition October 2018   LEGAL UPDATE Sexual Harassment (NYS): The New York State Department of Labor (DOL) has published resources for employers and employees about the state’s new sexual harassment prevention laws. On October 1, 2018, the DOL unveiled an updated website with final versions of: minimum standards for employer sexual harassment prevent...

Hospitality Newsletter Featuring Dine Market and Pro Insurance Agency HR Compliance Edition July 2018

Hospitality Newsletter Featuring Dine Market and Pro Insurance Agency HR Compliance Edition July 2018   DINE MARKET: If only every purchasing decision you made was this simple! One of the biggest challenges that the foodservice industry faces is figuring out how to manage all of their food suppliers, products and pricing in less time. Dine Market offers a service that is revolutionizing the...

Hospitality Industry Newsletter NYC Edition April 2018

TIP CREDIT New York State Governor Andrew Cuomo sent shocks waves through the restaurant industry by announcing that he will hold public hearings to examine if he should eliminate the tip credit. The tip credit allows tipped workers to be paid a lower minimum wage, as long as they earn at least the full minimum wage when their tips are included. If they don’t, the law requires that the employer...

HOSPITALITY INDUSTRY QUARTERLY NEWSLETTER JANUARY 2018

January 2018 Newsletter New Year, New Laws 2018 brings with it some significant changes for New York employers and employees, including the below increase in the minimum wage, NYS Paid Family Leave and a change in Commercial Rent Tax. See attached for additional information regarding the tax reform. Minimum Wage Changes On December 31, 2017, the following minimum wage rates went into effect: •...

HOSPITALITY INDUSTRY QUARTERLY NEWSLETTER SEPTEMBER 2017

Quarterly Newsletter September 2017 National Food Safety Month   COST MANAGEMENT Tips for Keeping Tabs on Food Costs by Plate IQ: Any seasoned restaurateur knows that cost management is crucial to the bottom line. With restaurants dedicating about a third of their spend to food, keeping a close eye can make a big difference to your margins. Here are four tips to turn the variability of food cost...
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