In the gigantic $1.9 trillion American Rescue Plan Act signed by President Biden last week, $28.6 Billion have been allocated to the Restaurant Revitalization Fund (RRF), a tax-free grant program that will be administered by the Small Business Administration (SBA) to save the hospitality industry. Eligible restaurants and other food service and drinking establishments will not be required to pay…
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Two New Bills Could Help New York’s Restaurant Industry Bounce Back After the Pandemic
It is an understatement to say that the past year has been rough for New York City’s restaurant industry. Tourists used to spend years saving up so that they could have some of New York’s famous dining experiences, a corned beef sandwich at a deli, a peerless plate of pasta, shawarma from Mamoun’s, an elegant dinner after the theater. Then…
Employee Retention Tax Credits are a Boon to Business Owners During the COVID-19 Pandemic
For the past year, the COVID-19 pandemic has wreaked havoc on the finances of most Americans. Small business owners have been forced to make one tough decision after another about what to do next to keep their businesses afloat or whether to cut their losses and making these decisions is doubly stressful because every decision affects not only the business…