The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).
From its share of the American Rescue Plan Act of 2021, the Commonwealth of Massachusetts has made a total of $75,000,000 available to support small businesses negatively impacted by the COVID-19 pandemic. These funds will be administered by the Massachusetts Growth Capital Corporation (MGCC) through two different grant programs, the New Applicant Grant Program and the Inclusive Grant Program.
The pandemic has changed the work landscape dramatically, and for many companies—as many as 70% according to a recent study—the massive transition to remote and hybrid work is here to stay. Remote work has many benefits for both employees and employers, but these benefits come with some major compliance requirements. With remote work policies varying from state to state, navigating key issues like tax compliance, workers compensation, payroll compliance, and insurance coverage can be complicated—especially when employees are working remotely in different states than the company’s headquarters location.
The Commonwealth of Massachusetts has a new temporary sick leave program related to COVID-19. Under Chapter 16 of the Acts of 2021 (An Act Providing for Massachusetts COVID-19 Emergency Paid Sick Leave), employers are now required to make paid leave time available to employees for COVID-related illnesses, quarantine, and vaccinations. Employers may then apply for reimbursement from the state.