Greg Reibman, President of the Newton-Needham Regional Chamber has been sending a daily e-newsletter since COVID started in March, and this was in his one today –
IRS PPP ruling adds another 2020 hurdle
I hate to spoil your appetite one day before the big event but here’s the latest on the PPP.
Earlier this year, the IRS ruled that expenses (like payroll) that businesses typically deduct from their taxes aren’t tax deductible if they used PPP dollars to pay for them.
Last week, the IRS issued new guidance prohibiting any small business that has a reasonable expectation of eventually receiving PPP loan forgiveness from deducting those expenses in 2020, even if it takes until 2021 or 2022 to be granted forgiveness, or if the business hasn’t submitted a forgiveness application yet, writes Andy Medici for the BBJ.
In other words: The IRS has just made it harder for businesses that are desperately trying to survive this pandemic by eliminating a potential strategy to defer their 2020 tax liabilities for one year while waiting for the economy to rebound.
Or as one expert tells Medici: “Without the PPP, small businesses would have laid off staff, saving on expenses and saving cash. The only reason they kept staffing levels is because of the PPP, and the IRS is effectively punishing that action by pretending it wasn’t a legitimate business expense.”
Interested in a sharp stick in the other eye (related to federal COVID relief support for our businesses)?Try this.
FYI. They are reporting to have the remaining 46 customers back on by Noon.
Good Morning Christine,
No, this was not a planned outage. We had a few phases come down which affected some customers in the area. Currently, we have crews on-site and there are 46 customers that remain out. The remaining customers should be picked up no later than noon today but may be restored sooner.
I’ll send you another update once I have it.
Jared M. Blandino
Community Relations & Economic Development Specialist
The Division of Local Services (DLS) newsletter had the following article about the Massachusetts Community Preservation Act (CPA) base state matching monies coming in this year at 28.6% for the 3% CPA communities.
Medfield residents continue to pay in to fund the state payments to other towns, because Medfield has not adopted the CPA – i.e Medfield is leaving free state monies on the table. See https://www.communitypreservation.org/ for information.
The map below shows all the communities that have adopted the Community Preservation Act, including those recently adopted.
FY2021 Community Preservation State Match Distributed Donnette Benvenuto and Lisa Krzywicki – Data Analytics and Resources Bureau
On November 13th, the Data Analytics and Resources Bureau (DARB) distributed the FY2021 state match of Community Preservation (CPA) funds. The CPA trust fund receives revenues from surcharges on documents filed at the Registry of Deeds. Effective January 1, 2020 the registry of deeds increased fees on most documents from $20 to $50 and on municipal lien certificates from $10 to $25. In FY2021, there are 176 communities eligible for the CPA state match and as of November, the CPA state trust fund recorded revenues totaling $61.1 million.
Of the 176 communities eligible, 76 have adopted the surcharge at the maximum 3% making them eligible for base distribution match of 28.6% of the local CPA surcharge committed. They are also eligible for the 2nd round distribution (equity) and 3rd round distribution (surplus), which can result in an increased percentage match, up to 100%. The remaining 100 communities that did not adopt the CPA at 3% are only eligible for the first-round match of 28.6% of the local CPA surcharge committed.
Number of communities eligible for the FY2021 state match by percentage adopted:
The full distribution breakdown and decile ranking by community can be found here on the DLS website.
On the November 3rd ballot an additional 9 communities voted and approved the CPA and West Stockbridge adopted it earlier in the year. Municipal Clerks in these communities are reminded to send in the Specimen ballot, results and notification of acceptance form to DARB at email@example.com as soon as possible.
List of additional communities and percentage adopted eligible for the FY2022 CPA state match in November of 2022:
The Town of Medfield and the Medfield Board of Health has announced that a new COVID-19 Data Dashboard is now available on the Town’s website. The dashboard was created utilizing the Massachusetts Department of Public Health’s weekly COVID-19 data and will be released every Friday. The new dashboard will also provide a breakdown of cases by age group as well as regional COVID-19 information.
November 13, 2020 12:32 PM The Town of Medfield and the Medfield Board of Health has announced that a new COVID-19 Data Dashboard is now available on the Town’s website. The dashboard was… Read on Click here to open the dashboard
November 6, 2020 9:18 AM
The Board of Health has announced the following case numbers of COVID-19 in Medfield: 78 confirmed, 12 active
MEA was founded in June and has quickly gained momentum. We are committed to helping Medfield and Medfield residents learn how to reduce their impact on the environment. We plan to hold at least one educational program a month.
We have some great ideas and plans for the future and would welcome more. Please get involved in a small or big (or medium) way. Feel free to reach out to firstname.lastname@example.org and/or consider attending the Steering Committee meeting in December. Details below.
Monday, November 16th Learn from Your NeighborsMonday November 16th 7:30 – 8:30 pm on Zoom MEDFIELD DECARBONIZERS
Are you thinking of installing solar panels or heat pumps but don’t know where to start? Are you curious about the logistics of driving an electric car? We thought it would be great to have a session about these carbon-reducing products where you can talk to other Medfield residents who have already adopted them.
Hear from these Medfield residents about their experiences: Jim James will talk about his solar panels. Kirsten & Glen D’Abate will discuss their electric vehicles. Jim Nail will tell us about how he installed a heat pump system for his home.
Also, we will share how to calculate your own carbon footprint. There will be plenty of time for questions. Register in advance for this webinar: https://tinyurl.com/meamedfield-Nov16 Have you taken our survey? Please do! We hope to learn what you and other Medfield residents think about environmental issues. Please take our survey and then share the link with your friends and family. If you include your email, you will be registered for a raffle to win a $50 gift certificate to a Medfield store. Find the survey here: https://www.surveymonkey.com/r/J7NFCHW
The next meeting of the Medfield Environment Action Steering Committee will be Wednesday December 2nd at 7:30pm via Zoom. Please join us at a meeting– we welcome everyone and anyone — and see what we’re about.
Meeting ID: 850 1726 6125 Passcode: 388020 It’s Easy to Calculate Your Household Carbon Footprint! • Use the EPA Carbon Footprint Calculator • Fill in just these two sections: Home Energy (electricity, gas/oil), and Transportation (your vehicles). • Save your work and bring in the number– your household carbon footprint in lbs of annual CO2 emissions– to the Nov. 16 forum. • This is a starter approach to carbon-footprint; we can always go deeper later. Please contact Fred Davis with any questions at email@example.com.
The Zero Carbon Home forum from last month was terrific. Lots of good information about how to get started on insulating your home, installing solar panels, choosing replacement windows and considering heat pumps. The recording is now on the MEA website, meamedfield.org. Check it out! Want to save money? Want to know more about home energy assessments, rebates, incentives, and more? Go toMass Saveand check out the possibilities.
Our MissionMedfield Environment Action (MEA) is a grassroots organization of residents. We share information about the accelerating environmental destruction and climate emergency to empower local action. We seek to build a movement of informed citizens, dedicated to the preservation of a living environment in Medfield and beyond. Our goal is that those informed citizens support each other and work together for solutions.
MEA will work to:initiate and support measures by our town and state governments that will positively impact our environment;help reduce energy consumption and render the consumed energy renewable/sustainablereduce other environmental impacts in our community. Adopted July 9, 2020
I started this blog to share the interesting and useful information that I saw while doing my job as a Medfield select board member. I thought that my fellow Medfield residents would also find that information interesting and useful as well. This blog is my effort to assist in creating a system to push the information out from the Town House to residents. Let me know if you have any thoughts on how it can be done better.
For information on my other job as an attorney (personal injury, civil litigation, estate planning and administration, and real estate), please feel free to contact me at 617-969-1500 or Osler.Peterson@OslerPeterson.com.