Paycheck Protection Program Update (Part II) with Dent Moses and Capital Solutions
Paycheck Protection Program Update (Part II) with Dent Moses managing partner, Mike Baker and SBA Lender, Nicole Reed of Capital Solutions.
UPDATED: Alabama Department of Labor Releases Summary of COVID-19 Benefits Available
Included in this post is the CARES Act and Unemployment Insurance Frequently Asked Questions as well as a COVID-19 Benefits Available – PDF table available here or at the bottom of the article.
The CARES Act – Answers to questions about the employee retention tax credit
The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. The credit is also provided to employers who have experienced a greater than 50% reduction in quarterly receipts, measured on a year-over-year basis.
THE PAYCHECK PROTECTION PROGRAM (PPP) Application has been issued by SBA.
The program is set to go LIVE APRIL 3 – Act Now to participate! On Friday, the CARES Act was signed into law. One of the most significant provisions for small business and non-profits is the Paycheck Protection Program, or PPP. The PPP provides a government-guaranteed loan to small businesses, and in most cases a large…
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Overview of SBA Loan Programs Prepared by the US Chamber of Commerce
Great overview of SBA Loan Programs Prepared by the US Chamber of Commerce.
The CARE Act
On March 27, 2020, the President signed into law the CARES Act. The rollout of certain relief provisions like the SBA loan program for wage, rents and utilities may take several weeks to be up and running. Again, with the regular caveat that things are moving fast, here is a list of the CARES Act provisions that we believe to be particularly applicable to small business owners and individual taxpayers:
Individuals Get COVID-19 Tax And Other Relief
Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.
Birmingham Strong Small Business Loan Fund
The #BHAMSTRONG Small Business Loan Fund is LIVE: What is the purpose of the loan? To immediately support small businesses affected by COVID-19 who are awaiting state or federal relief funding or a more stable business environment. Approved loans must be used to support one or more of these efforts: Limit reductions in payroll or…
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Alabama to Waive Employer Charges for COVID-19 Related Claims
Alabama Department of Labor Secretary Fitzgerald Washington has temporarily ordered that relief be offered to employers whose employees must file unemployment compensation claims for weeks filed due to COVID-19 related issues.
SBA Coronavirus Disease (COVID-19) Relief Loans
The Coronavirus has significantly impacted many of our clients. The SBA is making available Disaster Relief Loans to help businesses to get through this event.