Archive: small business

Still Need to File Small Business Subcontracting Reports or Update SAM? You Have More Time!

As a result of the COVID-19 emergency, the deadline to file Individual Subcontracting Reports (ISR) has been extended to June 30, 2020. The extension includes Final ISRs for contracts completed between March 13 and May 31, 2020. Additionally, contractors with System for Award Management (SAM) registrations expiring before May 16, 2020 can take a 60-day […]
April 20, 2020

Maryland Commerce Department, Montgomery County, Prince George’s County, and District of Columbia Announce Disaster Recovery Loan Programs

This blog was updated as of 4/24/2020.  Montgomery County, MD On March 31, 2020, Montgomery County, Maryland passed the Public Health Emergency Grant Program. The program entails the following: Public Health Emergency Grant Program: Application PHEG will stop accepting applications at 5 p.m. on Saturday, April 25. This $20M loan fund offers grants to small […]
April 15, 2020

Refundable Tax Credit For D.C. Retail Businesses

Businesses in the District of Columbia should not overlook the Small Retailer Property Tax Relief Credit. The term “small retailer” implies a narrow scope of eligible businesses, but the credit applies to more business activities than the program’s name suggests. Plus, the credit is easy to claim and refundable.  For tax years beginning on or […]
February 4, 2020

New Calculation Method for Small Business Size Standards

The U.S. Small Business Administration (SBA) announced that it is altering the method for calculating average annual receipts, which are used in determining size standards for small businesses. This change comes as part of the SBA’s efforts to create consistency among all small business size standards. Effective on January 6, 2020, the rule will change […]
December 13, 2019

Small Business Milestone: Federal Government Awards More than $120B in Contracts to Small Businesses in 2018

The Small Business Administration (SBA) announced in June 2019 that, for the sixth year in a row, federal agencies exceeded their mandatory goal of awarding at least 23% of prime contract dollars to qualified small businesses. In fiscal year 2018, agencies awarded 25.05% of contract dollars to small businesses, totaling $120.8 billion in obligations. This […]

Can a Woman Who Lacks Experience Control a Small Business Concern?

The Small Business Administration (SBA) recently said “no,” overturning a set-aside award to a woman-owned small construction business. The firm in question is 51% owned by two women, who serve as the president and vice president. The women did not have prior construction experience and had not previously held similar positions in other industries. However, their […]
May 13, 2019

Mark Phillips Moderated a Panel for the Northern Virginia Technology Council

Mark Phillips, a partner in Aronson’s Diversified Commercial Services Group, moderated a panel for the Northern Virginia Technology Council’s Small Business and Entrepreneur Committee on Thursday 3/7. While the region’s unemployment rate has remained around 3% (considered nearly full employment by economists), companies struggle to hire talent and are concerned about how Amazon moving into the […]
March 7, 2019

Major Change in Store for Small Business Size Calculation

Historically, contractors were required to use the average of their last three completed fiscal years to determine if they qualify as a small business, under either the “annual revenue” or “number of employees” thresholds. Per the Small Business Runway Extension Act of 2018 (the Act), which was signed by President Trump on December 17, 2018, the […]
January 21, 2019

Small Business Milestone: Federal Government Awards More Than $100B in Contracts to Small Businesses in 2017

The Small Business Administration (SBA) announced in May 2018 that federal agencies exceeded their mandatory goal of awarding 23% of their contracts to qualified small businesses for the fifth year in a row. In the fiscal year 2017, agencies awarded 23.88% in federal contract dollars to small businesses. While this is a slight drop from […]
June 15, 2018

Section 1202—A Powerful Tool: C-Corporation Shareholders Limit Tax Liability

Getting familiar with section 1202 also known as the qualified small business stock is a powerful tool for those looking for tax relief. If you are an established high tech company doing business with the government or private industry, your business may have progressed from being a small one or two person cash basis S […]