COVID-19 Resource Center

In an unprecedented manner, the world economy has unilaterally greatly reduced its industrial and economic output as a result of the Coronavirus pandemic (COVID-19). To help you through some of the unknowns and difficulties this created, Gettry Marcus CPA P.C. has launched a COVID-19 crisis advisory task force to help provide insight on how your businesses might need to react to this sudden health and economic global crisis. This page will be continuously updated with any newly released information.

TAX

CARES Act – Key Tax Provisions

March 27, 2020

Congress has passed the CARES Act. The following is a brief summary of the key tax provisions affecting individuals and businesses. More detailed information will be provided in the near future. Read More.

Important COVID-19 Tax Update

March 20, 2020

We want to keep you up to date on developments affecting your tax situation during the ongoing health crisis. Please remember that the situation is fluid and things may change rapidly. Read More.

BUSINESS

Managing Cash Flow During the Financial Crisis

March 26, 2020

Managing cash flow has always been challenging. In this unprecedented current financial crisis, with the root cause being a health pandemic, planning for the uncertain future is even more difficult. Read More.

Business Interruption Insurance

March 25, 2020

One possible form of relief for the financial stress caused by the outbreak of COVID-19 is business insurance, including business interruption and contingent business interruption coverages. Read More.

Launching of COVID-19 Crisis Advisory Task Force

March 23, 2020

In the past sharp downturns of the economy, not enough attention was devoted to an enterprises customer’s financial status until it was too late to be proactively prudent – in other words, the horses were out of the barn and the energy to coral them becomes exponentially financially exhausting. Read More.

Essential Businesses Update

March 21, 2020

On Friday, March 20th Governor Andrew M. Cuomo announced he is signing the “New York State on PAUSE” executive order, a 10-point policy to assure uniform safety for everyone. Read More.

A Message From our Managing Partner

March 13, 2020

Dear Valued Clients & Friends, As we continue to monitor the news surrounding the coronavirus (COVID-19) and its growing impact, we want to keep you informed that we have taken steps to ensure the safety of our employees while still maintaining the level of personalized service you are accustomed to receiving. Read More.

LOANS

CARES Act – Summary of the Loan Provisions

March 27, 2020

As most of you are aware, the CARES Act (the “Act” or the “Bill”), the third and largest stimulus package, has been approved by Congress and will soon be signed by the president. Read More.

SBA Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19)

March 24, 2020

The U.S. Small Business Administration (“SBA”) is offering low-interest federal disaster working capital loans to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Read More.

FAMILY LEAVE

Families First Coronavirus Response Act (FFCRA) & NYS Emergency Paid Leave

March 30, 2020

The federal government passed the Families First Coronavirus Response Act aimed at addressing the impact of the COVID-19 outbreak and introducing paid sick leave and an expanded family and medical leave act. Read More.

Please contact your Gettry Marcus Advisor if you would like additional information.

Disclaimer: Nothing herein should be construed as being Gettry Marcus’ views as to whether this economic global crisis will be short-lived (a V recovery), take only a few calendar quarters to unwind (a U recovery), or create a longer-lived recession. Further, the above and all future communications from our task force provides information for you to consider as a menu of thoughts as no one strategy works for all.