Blog

Congratulations On Your PPP Loan, now the hard part starts.

If you, like many other businesses, have just received your Payroll Protection Program (PPP) loan please keep the following in mind. -PPP loans were created in the CARES Act with the stated purpose of providing a direct incentive for small businesses to keep their workers on payroll. -PPP loan proceeds may be forgiven, in total […]

Good News from the House of Representatives

On May 28, 2020,  the US House of Representatives passed by a wide margin a bill that extends the time frame for the PPP forgiveness from 8 weeks to 24 weeks. The bill was designed to correct what many perceive as the CARES Act Paycheck Protection Program’s failure to assist hard hit businesses. The Senate […]

To our clients: We at DFCPA applaud you

We at Diapoules & Feinstein CPAs P.C. want to applaud all of our clients for their determination & courage in these trying times. All of us at D&F are committed to ensuring that you have success in your future. If we stick together, we will survive and prosper together. Now, in the words of one […]

Payroll Protection Program Loans

Good Afternoon and we hope that everyone is safe and healthy. For Some Good News! The SBA website for processing applications for an Economic Injury Disaster Loan (EIDL) has been updated and streamlined. They no longer require any collateral or personal guarantees. Hopefully, this time the website will not crash or be hacked. If you […]

Alert to all of our clients

Hold off on your Small Business Administration (SBA) Disaster Loan Application- There is a better alternative contained in a provision in the recently passed “Cares Act”. The provision is the Payroll Protection Program. This a $350 billion dollar program specifically dedicated to small businesses. Although the SBA oversees this process, you must apply through a participating bank.  […]

Important Update Regarding Disaster SBA Loans

We are here to help you.   It disturbs us to announce that today we have learned that three clients appear to have contracted the COVID-19 Virus. None have been confirmed. So please be careful out there, especially if you have an impaired immune system.   Important News  SBA has declared the states of New York, New […]

To all of our clients and acquaintances- We are here for you.

  To all our clients and acquaintances- We are here for you:  Yesterday, Governor Cuomo ordered all non-essential businesses to operate remotely and while accounting firms are considered an essential business, out of an abundance of caution and for the safety of our employees, our physical office will be minimally staffed for the immediate future.  However, all […]

Important Update from DFCPA

From: Diapoules & Feinstein CPAs P.C. Important Update: House Passes Bill Providing Testing, Employment Relief; 90-Day Waiver of Penalties and Interest on Tax Payments -On March 13, 2020, President Trump declared a national emergency, which frees up $50 billion in funding for state and local governments to use in fighting the pandemic. – On March […]

Tax saving tips for the elderly and their family

If you happen to have the following situation:  Your spouse is terminally ill.  You are in good health.  You have appreciated assets, that are your name only.   Husband and wives are allowed to make unlimited gifts to each other.  Prior to your spouse passing away, you should gift your appreciated assets to your spouse. As […]

Selling your home? Here’s a few tips.

We frequently get asked the question were selling our house and how much tax do we need to pay.  In order to calculate the gain on sale of a personal residence, please follow this formula:  Cost to purchase the home   Total closing costs paid when the home was purchased, not including adjustments for items […]