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Business and International Tax Blog

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The Chamberlain Hrdlicka Business and International Tax Blog provides updates, developments, and insights on business and international tax.

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Chamberlain Hrdlicka held its 43rd Annual Tax and Business Planning Seminar over three days from November 2-4, 2021. This year’s seminar showcased virtual presentations from attorneys in each of its offices and featured a keynote presentation by the IRS Commissioner, Charles P. Rettig. The event was open to the public and had in attendance approximately 300 accountants, business finance executives, financial planners and lawyers who guide clients in tax and business matters. The detailed topic descriptions from the event can be found here.

Attendees gained valuable ...

Our three-day 2021 webinar will feature attorneys from our Atlanta, Houston, Philadelphia, and San Antonio offices presenting today's most timely Tax and Business Planning topics.

Dates and Times:

  • Tuesday, November 2 from 12:00 - 4:30 p.m. CST
  • Wednesday, November 3 from 12:00 - 4:30 p.m. CST
  • Thursday, November 4 from 12:00 - 4:30 p.m. CST

Cost: $20 per day or $50 for 3 days

To request a financial hardship discount, a written request should be sent by email to Chamberlain Hrdlicka at firm@chamberlainlaw.com.

CLE and CPE Credit:

  • Texas CPE and CLE Hours:
    • Tuesday, November 2: 4.8 CPE ...

I.

Small Businesses with a Biweekly Payroll Schedule can Elect to use an Alternative Payroll Covered Period

SBA Form 3508, Paycheck Protection Program Loan Forgiveness Application, provides an optional alternative payroll covered period for small businesses with a biweekly (every other week) or more frequent payroll schedule. A small business may elect the alternative covered period only if it uses a biweekly or more frequent payroll schedule; those with monthly payroll schedules cannot make the election. If a small business makes the election, the eight-week period, for ...

Congress late last night passed legislation modifying the Paycheck Protection Program (the “PPP”). The Consolidated Appropriations Act, 2021 (the “Act”) provides $900 billion for COVID-19 related relief, which also includes $285 billion for the restart and expansion of the PPP, is expected to be signed by the President this week. First-time borrowers looking for an initial PPP loan and certain eligible borrowers with existing PPP loans have through March 31, 2021 to apply for the next round of PPP loans (once the SBA starts accepting applications). 

Borrowers with ...

Chamberlain Hrdlicka's Annual Tax and Business Planning Seminar is going VIRTUAL for 2020!

Our three-day webinar will feature attorneys from our Atlanta, Houston, Philadelphia, and San Antonio offices presenting today's most timely Tax and Business Planning topics.

Save the Dates to Join Us!  

Dates and Times:

  • Tuesday, November 10 from 1:00-4:30 p.m. CST
  • Wednesday, November 11 and Thursday, November 12 from 12:00 - 4:30 p.m. CST

Cost: $20 per day or $50/3 days

To request a financial hardship discount, a written request should be sent by email to Chamberlain Hrdlicka at ...

The U.S. Securities and Exchange Commission (“SEC”) estimates that capital raised in 2019 in private offerings under Regulation D ($1.56 trillion) was larger than the $1.2 trillion raised in public offerings during the same period. In a recent move, the SEC provided further support of private capital markets by broadening the definition of who may qualify as an “accredited investor” under Regulation D. While the stated purpose of the revised definition is to “better align access to unregistered offerings with the financial sophistication required to assess an ...

In late June, the Georgia Legislature passed the Georgia COVID-19 Pandemic Business Safety Act, SB 359. The bill will become law this Friday, on August 7, 2020.

What does the bill do?

The bill seeks to protect businesses, business owners, healthcare facilities and providers and individuals from certain types of premises liability civil lawsuits related to COVID-19.

Who is protected?

The bill offers protections to healthcare facilities, healthcare providers, entities and individuals. An “entity” entitled to protection under the bill is defined broadly to include any ...

Categories: COVID-19

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 ...

Categories: Corporate, COVID-19

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 ...

Categories: Construction, COVID-19

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 ...

Categories: Corporate, COVID-19