Business and Real Estate Law Archives - Gawthrop Greenwood, Attorneys at Law, West Chester PA

Cannabis Stocks Are a Growing Risk for Fiduciaries

June 8, 2021
Stephen J. Olsen

In 2021, most people can be forgiven for feeling as though investing in cannabis companies is completely legal and without risk. After all, the vast majority of states allow adult use, medical use, or at least some type of CBD…

Avoiding a Lawsuit Trap for Overtime Pay Rules

March 10, 2021
John E. D. Larkin

Employers are hungry for skilled workers they can promote to positions of responsibility. When they do, the promoted employee’s compensation is often switched from an hourly wage to a salary.

Is Your Business Taking Advantage of Section 139 Disaster Relief Payments?

March 9, 2021
Stephen J. Olsen

As businesses continue to deal with the pandemic and look for ways to assist their employees, Section 139 payments are a great way to benefit both the employee and the employer.

New Pennsylvania Bill Aligns with Federal Tax Treatment of Forgiven PPP Loans

February 11, 2021
Gordon W. Prince

On February 5, 2021, Governor Wolf signed into law Act 1 of 2021 (SB 109), which, among other things, provides clarity and relief for Pennsylvanians who received Paycheck Protection Program (PPP) funds. It was made clear the forgiveness of a PPP loan will not result in Pennsylvania personal taxable income.

Change-In-Ownership Guidance for PPP Borrowers and Lenders

October 19, 2020
Gordon W. Prince

The latest information from the SBA, issued in Procedural Notice No. 5000-20057, has important implications for PPP recipients who have, are in the midst of, or are contemplating effecting a change in ownership of their entity. Of importance, certain changes of ownership will require the approval of the SBA, or, at the very least notice to the SBA.

Making a Campaign Contribution? Make Sure You’re Compliant

September 21, 2020
Anthony T. Verwey

By Anthony T. Verwey -- As the political season continues the rush toward November, all businesses and their employees should be paying attention to recent reporting regarding “conduit” campaign contributions, which have the potential to put both parties in jeopardy.…

New PPP Loan Forgiveness Applications Issued

June 18, 2020
Gordon W. Prince

By Gordon W. Prince, Esq. In light of the newly executed Paycheck Protection Program Flexibility Act (the “Act”), discussed fully here, the SBA (in consultation with the U.S. Department of Treasury) issued a revised PPP loan forgiveness application, as well…

New Rules for Forgiveness in Paycheck Protection Program Reform Bill

June 5, 2020
Gawthrop Greenwood

By Gordon W. Prince, Esq. The Paycheck Protection Program Flexibility Act of 2020, a bill that focuses on easing restrictions on small businesses who will be seeking to have their PPP loans forgiven, has been signed into law by the…

Small Businesses: What You Need to Know About Important Changes to Bankruptcy

May 15, 2020
Gawthrop Greenwood

By David W. deBruin, Esq. The Coronavirus Aid, Relief and Economic Security Act (CARES Act) was enacted to provide emergency financial assistance for individuals, families and businesses affected by the COVID-19 pandemic. A lesser publicized part of the CARES Act…

Keep It or Return It: Major Update for PPP Loans Under $2 Million

May 14, 2020
Gawthrop Greenwood

By Gordon W. Prince, Esq. The SBA has automatically extended the safe harbor Paycheck Protection Program loan repayment deadline to May 18, 2020, in light of the new guidance it has issued regarding the good faith certification all PPP loan…

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