Thaler Law Firm PLLC
  • Home
  • About the Firm
  • Firm News
  • Professionals
    • Andrew M. Thaler
  • Practice Areas
    • Bankruptcy >
      • Considering Bankruptcy
    • Commercial Litigation
    • Creditors' Rights
    • Mediation
    • Trustee Representation
  • Testimonials
  • Contact
    • Potential Debtor
    • Potential Creditor
  • Blog

Difficult Decisions for Business Owners in the Age of the Pandemic

4/28/2020

0 Comments

 

Author: Andrew M. Thaler

In the age of the pandemic, the only certainty for businesses is that there will be uncertainty until there is certainty. That sounds like an absurd riddle but it is true. Consider what is now on the plate of the small business owner. If application was made for a Payment Protection Program loan (“PPP”) but awaits approval, will it ever be funded? In the meanwhile should employers lay people off or reduce salaries? If employees are laid off will they come back to work when things settle down? What is the likelihood of employees coming back to work if they can make more money from unemployment benefits than their regular pay? Do employees not return because of fear of exposure to the virus at work?  If a PPP loan is obtained, will at least 75% of the loan be utilized for payroll and approved expenses such that the loan will be forgiven?

Read More
0 Comments

COVID-19 and Personal Bankruptcy for Small Business Owners

4/17/2020

1 Comment

 

Author: Andrew M. Thaler

​Most small business owners unavoidably have to either incur business debt in their own name (think of an American Express Card) or personally guarantee business debt. The Coronavirus has had a devastating effect on small business. Many small businesses will simply not be able to weather the storm and survive. In this scenario, an inability of non-operating companies to pay its debts will leave small business owners with personal liability on business debt. Now is the time to educate oneself on personal bankruptcy because if an individual has more business than consumer debt, they may be exempt from chapter 7 bankruptcy’s rigorous Means Test and, instead, subject only to a more flexible and forgiving budget test.

Read More
1 Comment

    Authors

    This blog is maintained by:
    Andrew M. Thaler

    View my profile on LinkedIn
    Spiros Avramidis
    View my profile on LinkedIn

    Categories

    All
    Bankruptcy Cases
    Bankruptcy Filings
    Bankruptcy General
    Bankruptcy/Matrimonial
    Bankruptcy/Personal Injury
    Bankruptcy/Real Estate

    Archives

    November 2021
    June 2021
    September 2020
    August 2020
    July 2020
    May 2020
    April 2020
    March 2020
    January 2020
    December 2019
    September 2019
    February 2019
    January 2019
    October 2018
    September 2018
    July 2018
    May 2018
    January 2018
    December 2017
    October 2017
    February 2017
    January 2017
    December 2016
    July 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014

    RSS Feed


Thaler Law Firm PLLC
675 Old Country Road
Westbury, New York 11590
Phone: (516) 279-6700 | Fax: (516) 279-6722

Disclaimer
Thaler Law Firm provides the information and materials on its website and blog for informational purposes only. The information is general in nature and does not constitute legal advice.
Further, the use of this information, and the sending or receipt of such information and materials, does not create an attorney-client relationship between us. Prior results do not guarantee a future or similar outcome.

The application and impact of laws can vary widely based on the specific facts involved. Accordingly, the information is provided with the understanding that the authors are not herein engaged in rendering legal, accounting, tax,
or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other advisers.

Materials and information in this presentation is proprietary in nature belonging to Thaler Law Firm and may only be reproduced in its entirety (without modification) for the individual reader’s personal or educational use and must include
this notice of our proprietary interest and the prohibition of reproduction

TLF is considered a debt relief agency.
TLF helps people file for bankruptcy relief under the Bankruptcy Code.
Attorney Advertising | Copyright © 2015 Thaler Law Firm PLLC | All rights reserved
Powered by Create your own unique website with customizable templates.