Page 12 THE MALDEN ADVOCATE–Thursday, December 31, 2020 MVES and Cornucopia Foods partner to deliver more than 300 meals on Christmas Eve M ystic Valley Elder Services (MVES) and Cornucopia Foods, both of Malden, partnered on Christmas Eve to deliver more than 300 meals to older adults served by MVES so they could have a nutritious meal for Christmas. The meal contained baked stuffed chicken, mashed potatoes, green beans, carrots and gravy prepared and donated by Cornucopia Foods. The meals were delivered by more than 35 volunteers to individuals living in Chelsea, Everett, Malden, Medford, Melrose, North Reading, Reading, Revere, Stoneham, Wakefield and Winthrop. Mystic Valley Elder Services Community Programs Director Lauren Reid handed off meals to delivery volunteer Holly Ardito and her daughter. DEDUCTIBILITY OF THE PAYCHECK PROTECTION PROGRAM EXPENDITURES T he Consolidated Appropriations Act, 2021 provides for the deductibility for the expenditures paid for with the Paycheck Protection Program (PPP) loan proceeds. This Act just passed both houses of Congress on December 21, 2020. President Donald J. Trump signed it into law on December 27, 2020. This reverses the Internal Revenue Service’s recent revenue rulings stating that the expenditures would not be deductible as the proceeds of the PPP loan represented tax-exempt income. This is truly having your cake and eat it too. Not only do businesses now not have to report the loan forgiveness as income, they now have the ability to deduct all of the expenditures. It’s a big win for businesses that have suffered so much as a result of the Corona Virus. The COVID-Related Tax Relief Act of 2020 (COVIDTRA), Section 276(a)(1) codifies the deductibility of the expenditures paid for with the PPP loan proceeds. COVIDTRA also provides that the tax basis and other attributes of the business’ assets will not be reduced as a result of the PPP loan forgiveness. COVIDTRA also provides for the direct payments to individual taxpayers called “recovery rebates”. As of this writing, Senate Majority Leader Mitch McConnell has blocked the increase from the $600 stimulus check to a $2,000 stimulus check. Section 307 of Title III, Continuing the PPP and Other Small Business Support in the Consolidated Appropriations Act states that if a PPP loan is not more than $150,000, it will be forgiven if the eligible recipient submits a certification to the lender with the following information: 1. A description of the number of employees that were retained due to the PPP loan 2. The estimated amount of the PPP loan that was spent on payroll costs 3. The total loan amount No other documentation will need to be provided to the lender. The PPP forgiveness amount also does not have to be reduced by any Economic Injury Disaster Loan advance. Joseph D. Cataldo is an Estate Planning/Elder Law Attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a Master’s Degree in Taxation. я Mystic Valley Elder Services (MVES) and Cornucopia Foods partnered to deliver 300-plus Christmas meals to MVES clients. Shown from left to right are MVES staff: Volunteer Program Manager Leah Mulrenan, Human Resource Recruiter Laura DiTullio, Community Programs Director Lauren Reid and CEO Daniel O’Leary – handing out meals to delivery volunteers. (Photos Courtesy of Mystic Valley Elder Services) ~ LEGAL NOTICE ~ MALDEN BOARD OF APPEAL Virtual - PUBLIC HEARING The Malden Board of Appeal will hold a public hearing on Wednesday, January 20, 2021 6:30 pm Eastern Time (US and Canada), via remote hearing, on Petition 21-003 by Patrick MacDonald, Esq on behalf of Maplewood Place Associates, LP o/b/o Wyner Company, LLC for a variance of MCC 12.20.010 Chapter 12 of the revised Ordinances of 2020 as amended of the City of Malden – Specifically off street parking requirements for convalescent rest and nursing homes as per Plans RES-035687-2020 at the property known as and numbered 295 Broadway, Malden, MA and also known by City Assessor’s Parcel ID #153-503-301 The hearing will be hosted by the City of Malden on Zoom and will be accessible to members of the public who are invited to attend and provide comments via remote participation by accessing the following link and/or telephone: Please click the link below to join the webinar: https://cityofmalden.zoom.us/j/93948326129?pwd=Nk9nck1wR2s4K0RMMmxocTBIa3JDZz09 Or iPhone one-tap : US: +19294362866,,93948326129#,,,,,,0#,,448080# or +16465189805 ,,93948326129#,,,,,,0#,,448080# Or Telephone: Dial(for higher quality, dial a number based on your current location): US: +1 929 436 2866 or +1 646 518 9805 Webinar ID: 939 4832 6129 Passcode: 448080 International numbers available: https://cityofmalden.zoom.us/u/ad6SQIXWHS Additional information, Petition & plans available for public review in the Office of Inspectional Services, 215 Pleasant St., 3rd floor, Malden MA or online at www.cityofmalden.org or https://permits.cityofmalden.org/EnerGov_Prod/SelfService Nathaniel Cramer, Chair December 31, 2020 & January 8, 2021
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