Attorneys Spitz and Neville join Saxton & Stump establishing firm’s South Carolina presence

  LANCASTER, Pa., June 29, 2021 — Recognized South Carolina attorneys Stephen A. Spitz and Irish “Ryan” Neville joined Saxton & Stump, launching the firm’s first out-of-state office in Charleston. Both attorneys are well-established in the business and legal...

$900 billion economic relief package – support for businesses and healthcare providers

After much negotiation, and a few twists and turns, on Sunday, December 27, President Trump signed the Consolidated Appropriations Act (the Relief Act) into law. In addition to providing Congress with a budget for the upcoming fiscal year, the Relief Act provides nearly $900 billion in coronavirus-related aid that will be allocated among numerous designated programs.

IRS issues new guidance on the deductibility of business expenses paid for with PPP funds

Last week, the Internal Revenue Service (IRS) issued Revenue Ruling 2020-27, providing clarity on the ability of a Paycheck Protection Program (PPP) loan recipient (i.e. business owner) to deduct business expenses paid for using PPP loan proceeds. The updated ruling reinforces previous guidance issued in May through Revenue Ruling 2020-32 and if not followed, may increase the audit risk of a business owner by potentially understating their total net income (or overstating their potential loss).

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Lancaster

280 Granite Run Drive, Suite #300
Lancaster, PA 17601
Phone: (717) 556-1000
Fax: (717) 441-3810

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Harrisburg

4250 Crums Mill Road, Suite #201
Harrisburg, PA 17112
Phone: (717) 216-5505
Fax: (717) 547-1900

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Malvern

100 Deerfield Lane, Suite #240
Malvern, PA 19355
Phone: (484) 328-8500
Fax: (484) 713-5241

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Charleston

151 Meeting Street, Suite #350
Charleston, SC 29401
Phone: (843) 414-5080
Fax: (843) 580-8303

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