Category: What’s Happening This Month

The TN BID has beautified its tree pits! Take a walk along East Tremont Avenue and enjoy the view of gorgeous plantings.

Important information from the Bronx Tax Man!

There are many scammers on social media and emailing small business owners. Most of these are law firms claiming they know the loop holes and will help you get money. However the laws are clear cut, either you qualify or you don’t. The IRS will be conducting audits on the small businesses who attempt to submit claims. The appealing thing is that small businesses (if they qualify) can obtain up to $26,000 per employee for the qualified affected periods.

The basic rule for the Credit says that as a business your sales MUST have DECREASE 50% from 2019 to 2020 or 20% from 2019 to 2021 for the same quarter in question. For example 1st QTR (January through March) 2019 to 2020. If your sales did not decrease, then you most likely do not qualify.

Another requirement is if the small business had obtain the PPP (Payroll Protection Program) the payroll that was used in those grants cannot once again qualify for the ERC. Therefore, once audited, those small businesses will be responsible to pay back any credit received. The other negative aspect is that unlike the PPP, the Employee Retention Credit causes a domino effect whereas the small business will have to file amended payroll taxes, amended corporate taxes to reduce the payroll for the qualifying year, and if an S-Corp or LLC, will then also have to file amended personal taxes to increase their income for that year. All of these consequences are never mentioned.

Furthermore, if the solicitation company who assist the small business to obtain the supposed ERC credit takes a fee of 25% or so, you have no guarantees that if you are audited and owe these funds back to the IRS, that they will be in business to refund you the fees they took from you.

This is quickly becoming one of the biggest scams hitting small businesses across America. Unfortunately, until the Internal Revenue Service completes there audits, the world will not know the negative consequence that these scamming companies are causing.

Below is a link to the IRS website explaining more details. However small business owners Beware of these scammers who make the ERC so appealing that you feel like a fool if you do not apply.

There is so much more that can be said about this credit and the scams, but the small business community should be on high alert for these scammers making these deals so sweet and appealing before you are left footing the bill and facing audit consequences for years to come.

https://www.irs.gov/…/irs-issues-renewed-warning-on…

Street Naming Ceremony for James “Jim” E. McQuade: The Schuyler Hill family invites you to come on Monday, May 22nd, 2023, at 1:00pm on the corner of E Tremont Avenue & Sommer Pl for the dedication ceremony of our beloved Jim McQuade. Jim was a founding member of the Throggs Neck BID

The Throggs Neck BID, in cooperation with the NYPD’s Community Affairs Bureau, have been “walking through” the area to hear your concerns and provide any information requested. (Photo, left to right: TN BID Executive Director Bob Jaen, Joseph DiMarco, from Pastosa’s Italian food store, and Officer Hannah Rivera, NYPD Community Affairs Bureau.)

On April 14, Throggs Neck BID Executive Director Bob Jaen met with the Commissioner of New York City’s Small Business Services, Kevin D. Kim. Bob pointed the extraordinary accomplishments of the BID, and urged Commissioner Kim to provide all available support to the community as the BID develops even greater and more ambitious projects,

Photo: Commissioner Kim (left) TN BID Exec. Director Jaen (Right) BID legal Counsel Steve Kaufman (Background)

Reminder! New Trash Set-Out Times Began April 1 

Effective April 1, 2023, businesses that place waste at the curb* for collection have two setout options:

• If using a container with a secure lid, a business should place waste at the curb 1 hour before closing, or
• If putting bags directly on the curb, place waste out after 8:00 PM.

·       *This does not apply to businesses that have waste collected from a loading dock or other off-street location.

·        ·     Send your questions to commercialprograms@dsny.nyc.gov. DSNY’s Commercial Engagement Team will provide additional free resources including information on the rules, educational site visits, trainings, and webinars.

Send your questions to commercialprograms@dsny.nyc.gov. DSNY’s Commercial Engagement Team will provide additional free resources including information on the rules, educational site visits, trainings, and webinars.

 The City is aware that these new rules are onerous for businesses and being implemented on a short timeline. The Team continues to coordinate with DSNY and City Hall to express the concerns and discuss possible solutions

SBS Small Business Advocates will host office hours throughout the month of March. Business can make appointments or drop by to understand City rules and regulations, and more.  NYC Business Solutions Center, 400 East Fordham Road, 7th Floor, Thursdays, March 8, 16, 23, and 30 (10am-4pm) Contact: Michael Anton (929-417-0260 / manton@sbs.nyc.gov)

Welcome, NAILOLOGY! Members of the BID’s Board of Directors attended NAILOLOGY’s grand opening on Friday, February 25 at the new stores’ location, 3433 East Tremont Avenue.

BID staff, Bob Jaen and Frank Vernuccio, attended the inauguration of newly elected State Senator Nathalia Fernandez on February 12. The Bid does not endorse any candidate or party, but it does seek to work with every elected official and key city, state and federal agencies to ensure that the community receives all possible assistance.

The best place to spend Valentines Day is right here in the Throggs Neck BID!  Our magnificent restaurants provide just about every type of cuisine and atmosphere you and your sweetheart could want.   

Want to try something new? Fiorentina Steakhouse, at 3617 East Tremont Avenue, which opened just recently, is offering a $99.95 per person special menu just for the occasion.  Patricia’s Restaurant at 3883 East Tremont is a delicious choice for the occasion. Mama Sushi’s at 3478 East Tremont provides a unique dining experience.  Going for a more casual experience?  Explore the many selections at the award-winning Crosstown Diner at 2880 Bruckner Boulevard. While there, sample their great desserts as well. Stroll the whole BID area, and discover even more incredible dining experiences!