Surviving Disruption: How New COVID-19 Legislation Can Assist the Restaurant Industry | Modern Restaurant Management | The Business of Eating & Restaurant Management News

While businesses coast to coast reel from the financial and emotional impact of the COVID-19 coronavirus pandemic, few have been affected more adversely than restaurants. Uncertainty in the restaurant industry could endure for months, maybe longer.

If there is any good news to share, it is about the many different government programs that now exist to help businesses survive this unprecedented socioeconomic crisis. As numerous coronavirus relief programs are being enacted on the federal and state levels, here are some of the major ones the restaurant industry should consider taking advantage of.

COVID-19 Legislation and Tax Policy ChangesPaycheck Protection Program (PPP)Administered by the Small Business Administration (SBA), the PPP provides $349 billion in new lending capacity under the SBA’s Section 7(a) loan program. The program was created to help small businesses (fewer than 500 employees) with funds to pay up to eight weeks of payroll costs, including benefits. Funds can also…

David J. Meyrowitz, CPA

David J. Meyrowitz, CPA, is a partner with CohnReznick and leads the tax practice for the firm’s Long Island, NY office. He has more than 40 years of diversified public accounting and taxation experience.

Ginny Boyce, CPA

Ginny Boyce, CPA, is a director in CohnReznick’s Long Island office with over 30 years of experience in tax planning and compliance for public and private middle-market companies with a primary focus within the hospitality and technology industries.

Lisa Caputo, CPA

Lisa Caputo, CPA, is a manager in CohnReznick’s Long Island office. She has more than five years of experience in tax planning and compliance for both public and private middle-market companies with a primary focus within the hospitality, manufacturing & distribution, and technology industries.

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David J. Meyrowitz, CPA

Ginny Boyce, CPA

Lisa Caputo, CPA