On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act (PPPFA). This law brings changes to the Paycheck Protection Program (PPP) that PPP loan borrowers should be aware of. PPPFA changes the amount of funds to be spent on payroll to 60% The PPFA reduces the amount of the loan […]
Category Archives: Help
12
May
May
During these challenging times, why even try to tackle a budget? It may sound strange but having a budget contributes to your peace of mind. With so many unknowns, creating a budget can help you feel more grounded and aware of what your financial situation actually is. Essentially when you create a budget you are […]
30
Apr
Apr
Congratulations, you got a Paycheck Protection Program (PPP) loan! As you have probably heard, not all small businesses have had success applying for or getting approval for this type of economic relief. So take a moment to enjoy the fact that you did receive funding. Now that you have received your funding, what is the […]
22
Apr
Apr
In a previous blog, we outlined a provision from the IRS to offer employers Payroll Tax Deferments as part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). Another recent provision made available through the IRS is the Employee Retention Credit. Here we will discuss the particulars on this type of relief. What […]
20
Apr
Apr
Updated 4/27/2020 We have been talking with many of our clients regarding the Paycheck Protection Program (PPP) authorized by the CARES Act these past couple of weeks. Some of our clients applied for a PPP loan and have already received funding. However, many ran into problems with the application process. Perhaps you have asked: “What […]
16
Apr
Apr
In a previous post, we provided an overview of the Paycheck Protection Program (PPP), one of the loan provisions under the CARES Act. There has been an abundance of new information released about this program. One significant change is new guidance for self-employed businesses. If you are an independent contractor and sole proprietor, what should […]
15
Apr
Apr
Many small businesses are applying for economic assistance through either EIDL or PPP loan programs. However, it seems that getting approval for these programs is taking longer than anticipated. What are some other ways that small business owners can get more immediate relief? As part of the CARES Act, employers can seek deferment of certain federal payroll […]
14
Apr
Apr
Cash is tight for many small businesses right now as non-essential activities are being restricted. Of course, health and safety are paramount during these difficult times. But, no doubt, the health of your business is also on your mind. Finding ways to save cash can help you to weather this storm. But what are some […]
03
Apr
Apr
You no doubt have heard about the Coronavirus Aid, Relief, and Economic Security (CARES) Act that allocated $349 billion to help small businesses keep workers employed amid the pandemic and economic downturn. One of the features of the CARES Act is the Paycheck Protection Program. What is it? The Paycheck Protection Program is a loan […]
03
Apr
Apr
[Updated May 20, 2020] You no doubt have heard about the Coronavirus Aid, Relief, and Economic Security (CARES) Act that allocated $349 billion to help small businesses keep workers employed amid the pandemic and economic downturn. One of the features of the CARES Act is the Economic Injury Disaster Loans (EIDL). What is it? The […]