COVID-19 Resource Hub

Many businesses are facing unprecedented challenges during this COVID-19 pandemic. We have gathered some resources to help you keep up to date with the ever changing rules and regulations in order to better navigate this difficult time. 

PPP Loan Forgiveness Update Webinar

We covered updates to the Paycheck Protection Program, HR 7010 and how to apply for loan forgiveness

During this webinar we discussed:

  • What does HR 7010 mean to the PPP Loan Forgiveness program
  • Understanding the revised PPP Loan Forgiveness Application
  • How the CARES Act impacts your quarterly 941
  • Upcoming legislation and guidance on what to do

Full Presentation

Webinar Recording

PPP Loan Forgiveness Application

Updates and guidance on PPP Loan forgiveness

Application deadline to obtain a PPP Loan is June 30th

Updated PPP Loan Forgiveness Application
EZ Loan Forgiveness Application

Revised PPP Loan Forgiveness Application and Instructions:

  • S-Corp owners cannot include Health ins in payroll costs
  • Safe Harbor dates for Salary/Hourly Wage and FTE reductions to forgiveness are the earlier of Dec 31st or the date of your application

New EZ PPP Loan Forgiveness App/Instructions (available for):

  • self-employed and have no employees
  • Employers that did not reduce the salaries or wages of their employees by more than 25% and did not reduce the number or hours of their employees
    Employers that experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.

PPP allows loan forgiveness for payroll costs for up to $100,000 annualized per employee, or $15,385 per individual over the eight-week period. The new interim final rule establishes the 24-week maximum for full loan forgiveness at $46,154 per individual.

For owners that file a Schedule C or Schedule F tax return, owner forgiveness compensation is calculated for the eight-week period as 8 ÷ 52 × 2019 net profit, up to a maximum of $15,385. However, for the 24-week period, the forgiveness calculation is limited to 2.5 months’ worth (2.5 ÷ 12) of 2019 net profit, up to $20,833.

Updated Interim Final Rules 

CARES Act Stimulus Information

Updates to the latest stimulus options 

SBA Loans vs. Credit/Deferrals Webinar

April 17th ,2020

Need help deciding between a PPP loan and credit/deferrals? We discuss the best options for your business.

With this webinar we explored the following topics:

  • An overview of the CARES Act
  • Information and requirements of SBA Loans
  • EIDL Grants and Loans
  • Retention Credit
  • Employer Social Security Tax Deferment
  • Comparisons and Combinations

Full Presentation

Webinar Recording

CARES Act Information

Below are some guides to help you navigate some of the newest legislation

SBA Paycheck Protection Loan

SBA Forgiveness Program

Other Tax Deferment and Credit Programs

COVID-19 Resources and Employer Response Webinar

 

March 27th,2020

 

Our Director of HR, Andrea Porter and President, Jack Biltis help clarify who is impacted and learn great tips on how to take care of your employees and get your business through the COVID-19 pandemic.

 

With this webinar we explored the following topics:

 

  • What we are doing to help our clients through these difficult times
  • Helpful financial resources at the state and federal level
  • Your rights and responsibilities as business owners
  • Answers to common questions about the impact of COVID-19 on payroll, benefits etc…
Full Presentation

HR Responses and Best Practices

A deep dive into the HR issues surrounding the COVID-19 outbreak including complaince and best practices.

In this video we discuss:

  • How to handle reduction in pay
  • What is the difference between furloughs and layoffs?
  • What if an employee refuses available work?
  • How to handle Coronavirus in the workplace
  • Shelter in Place and Essential Services

Compliance With the Families First Coronavirus Response Act

Information about how the Families First Act will impact your business.

In this video we discuss:

  • How Does The Sick Pay and FMLA Work?
  • How Do Tax Credits Offset Sick Pay Payments?
  • How Our Software Will Automate the Process
Presentation

Latest Updates