Levene Gouldin & Thompson, LLP is pleased to announce that Amanda L. Giannone and Justin L. Salkin have become Partners of the Firm. Amanda L. Giannone is a graduate of Vestal Senior High School, The College at Brockport: State University of New York, and Syracuse University College of Law. She is currently on the Board of Directors for the Johnson City Senior Center, and past board member of the Preservation Association of the Southern Tier (PAST) and the Retired Senior & Volunteer [...]

• On April 3, 2020 Governor Cuomo signed a bill amending the Labor Law, requiring New York employers to provide sick leave to all employees • Accrual and recordkeeping obligations under this new law became effective September 30, 2020 and employees may begin using accrued leave for Permitted Uses under this law on January 1, 2021 • Proposed regulations for New York’s Paid Sick Leave are available here, beginning on page 8: [...]

As part of the loan review process, the SBA is providing a Loan Necessity Questionnaire (“Questionnaire”) to lenders for them to distribute to PPP borrowers that, together with their affiliates, received loans of $2 million or more.Borrowers that are requested to complete the Questionnaire should return it to their lender within 10 business days of receipt. The information that borrowers provide on the Questionnaire will help the SBA assess the borrowers’ certification in their [...]

 • Please be advised that the below information is guidance from the CDC; you should continue following the quarantine rules of your local or state health department. More information on Broome County and New York rules is available here: https://www.gobroomecounty.com/hd/coronavirus/faq; https://forward.ny.gov/; https://coronavirus.health.ny.gov/home • On December 2, 2020, the CDC updated its guidance on when to quarantine if you might have been exposed to COVID-19, including [...]

On April 30, 2020, Notice 2020-32 was issued, which stated that expenses paid for by Paycheck Protection Program (“PPP”) loan funds that are forgiven are not deductible for tax purposes.  Since the issuance of Notice 2020-32, many wondered whether a taxpayer that received a PPP loan and paid otherwise deductible expenses can deduct those expenses in the tax year in which the expenses were paid or incurred if, at the end of that tax year, the taxpayer has not received a [...]