[vc_row el_id=”tax-filling”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586863941314{margin-top: -24px !important;padding-top: 16px !important;padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586856488273{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Tax
Filling
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586856864416{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #23a5dd !important;border-left-style: solid !important;}”][vc_column_text]
Changes tax day from April 15 to June 15, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
April 15, 2020 – July 15, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All US Taxpayers[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Delay of filing requirements for tax returns and estimated payments[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
No terms[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
No application necessary.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.IRS.gov[/vc_column_text][vc_empty_space height=”24px”][/vc_column][/vc_row][vc_row el_id=”unemployment-insurance”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586859169164{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586856535838{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Unemployment
Insurance
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586856637780{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #efac37 !important;border-left-style: solid !important;}”][vc_column_text]
States suspend waiting period for unemployed applicants[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
April 1, 2020 – December 31, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All eligible laid-off or terminated employees[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
States suspend traditional waiting period of 1-2 weeks and begin immediate payments on application[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Standard Unemployment periods are extended for additional 13 weeks of coverage up to 12/31/2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Via individual State Unemployment portals[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Visit your State Unemployment Services website[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”short-time-unemployment”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586856943153{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Short-Time Unemployment
(Shared Work Programs)
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586856637780{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #efac37 !important;border-left-style: solid !important;}”][vc_column_text]
An alternate to layoffs for Employers, Work Share programs administered by the State (28 states currently active) where Employer can keep people employed and working less than regular hours while simultaneously drawing unemployment insurance[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
April 1, 2020 – December 31, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All employers[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
The amount of Unemployment Compensation paid to individuals filing for STC is a pro-rated portion of the Unemployment Compensation payment they would have received if they were totally unemployed.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Employer must apply to the program for each State in which they have employees. Once an employer is registered, employees may begin to apply for and receive benefits.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Employer must apply to the program for each State in which they have employees.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Check with each State’s Department of Labor, Unemployment Compensation website.[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”pandemic-assistance-anemployment”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586857119737{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Pandemic
Assistance
Unemployment
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586856637780{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #efac37 !important;border-left-style: solid !important;}”][vc_column_text]
Payment of additional $600 per week of State administered unemployment insurance to eligible individuals. In addition, a new classification of unemployment for Independent Contractors, Sole Proprietors and 1099 workers which allow them to be eligible for special unemployment weekly payments[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Eligibility begins March 28, 2020 – July 31, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Individuals collecting regular Unemployment Compensation (UCFE, UCX), as well as the following: Pandemic Emergency Unemployment Compensation (PEUC); Pandemic Unemployment Assistance (PUA); Extended Benefits (EB); ShortTime Compensation (STC); Trade Readjustment Allowances (TRA); Disaster Unemployment Assistance (DUA); and payments under the Self-Employment Assistance (SEA) program.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
$600 per week compensation in addition to any other State benefits that the applicant is eligible to receive.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Suspends State’s 1 week waiting period to begin receiving benefits. Benefits will end after payments for the last week of unemployment before July 31, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Apply via your individual State Unemployment Compensation website[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Check with each State’s Department of Labor, Unemployment Compensation website.[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”employee-retention-credit”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586857289592{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Employee
Retention
Credit
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586857450876{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #97d622 !important;border-left-style: solid !important;}”][vc_column_text]
The Employee Retention Credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID19.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Wages paid after March 12, 2020, and before Jan. 1, 2021, are eligible for the credit.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All employers regardless of size, including tax-exempt organizations. (State & Local government not included)[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
The amount of the credit is 50% of qualifying wages paid up to $10,000 in total. Wages taken into account are not limited to cash payments, but also include a portion of the cost of employer provided health care.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Qualifying wages are based on the average number of a business’s employees in 2019. If employer had 100 or less on average in 2019, credit is based on wages paid to all employees, regardless if they worked or not. If the employees worked full time and were paid for full time work, the employer still receives the credit. If the employer had > 100 employees on average in 2019, credit is allowed only for wages paid to employees who did not work during the calendar quarter.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Employers can be immediately reimbursed for the credit by reducing their required deposits of payroll taxes that have been withheld from employees’ wages by the amount of the credit.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.IRS.gov[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”sick-emergency-leave”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586857514732{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Sick / Emergency
Leave
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586857450876{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #97d622 !important;border-left-style: solid !important;}”][vc_column_text]
Federal Law that requires Employers to provide paid time off for all employees that are out of work for sickness or emergency – COVID-19 related reasons.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
March 18, 2020 – December 31, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All businesses that have employees[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Immediate and 100% reimbursement to employers who provide paid sick / emergency leave to affected employees.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Relief to employers is via refundable payroll tax credits. When an employer files a 941, they can immediately apply the credit on all employer portion of federal taxes. If the credit is larger than the applicable tax, the employer can file for a refund of the overage.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
No application necessary. Calculate credit per guidelines and submit with 941 filings to offset payment of applicable federal income taxes.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.IRS.gov[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”sba-express-bridge-loan”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586858098282{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
SBA Express
Bridge Loan
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586858084887{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #f75127 !important;border-left-style: solid !important;}”][vc_column_text]
Fast-turn around loan of $25,000 that allows authorized SBA Lenders to provide immediate Working Capital loans to their existing customers.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Applications can be made from March – December 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Small Businesses who have a relationship with a SBA Express Lender[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
$25,000 immediate bridge loan which can be used while business is awaiting EIDL.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Fast turnaround, 36hr SBA approval, immediate disbursement which is repaid in full or in part by proceeds from EIDL loan. There are fees and interest applicable.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Direct with a Lender that the Borrower has a relationship with. Lender must also be SBA approved Express Lender.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Contact your Banker[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”sba-economic-injury-disaster-loan-eidl”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586858220146{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
SBA – Economic Injury
Disaster Loan (EIDL)
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586858084887{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #f75127 !important;border-left-style: solid !important;}”][vc_column_text]
SBA DIRECT LOAN which provides Working Capital loans to any small business affected by COVID-19 health emergency[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Applications can be made from March – December 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
For businesses that have sustained “economic injury” as a result of the COVID-19 health emergency[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Direct SBA loans, up to $2million, per individual borrower.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Up to $2million loan amount, 3.75% fixed rate, up to 30 years term, payments can be deferred up to 6 months.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Direct with SBA at www.SBA.gov[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.SBA.gov[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”paycheck-protection-program-ppp”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586858402579{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Paycheck Protection
Program (PPP)
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586858084887{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #f75127 !important;border-left-style: solid !important;}”][vc_column_text]
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Short-term Lender provided loan to any small business and independent contractor which provides funds to continue to pay employees over an estimated 8 week period.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Lenders may begin processing loan applications 4/3/2020 for Business / Sole Proprietor and 4/10/2020 for Independent Contractors and those Self-Employed. Last day to apply is June 30, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Small Business with <500 employees, tax exempt nonprofits, those self employed or sole proprietors. Must be in operation on 2/15/2020 and had employees or paid independent contractors.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Up to 2.5 times the average monthly payroll expense of the business borrower.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Maximum loan amount is $10million. Loan is 100% forgivable if used as designed, has an interest rate of 1%, no fees and is for a 2 year term. SBA guarantees these loans 100% with no recourse, no collateral, no personal guarantee required. Payments deferred for 1st six months.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Direct with any SBA Lender or federally insured depository institution, credit union or Farm Credit System institution.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.SBA.gov[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row el_id=”debt-releif”][vc_column][/vc_column][/vc_row][vc_row gap=”35″ content_placement=”middle” css=”.vc_custom_1586856330134{padding-bottom: 16px !important;}”][vc_column width=”1/4″][vc_column_text css=”.vc_custom_1586858494191{border-right-width: 1px !important;border-right-color: #d8d8d8 !important;border-radius: 1px !important;}”]
Debt
Relief
[/vc_column_text][/vc_column][vc_column width=”3/4″ css=”.vc_custom_1586858084887{border-left-width: 2px !important;padding-left: 64px !important;background-color: #f2f2f2 !important;border-left-color: #f75127 !important;border-left-style: solid !important;}”][vc_column_text]
6 months of payment relief for existing borrowers of SBA 7(a), 504 or Micro loans and future borrowers who take out a loan on or before 9/27/2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Current borrowers PLUS all future borrowers who have loans issued prior to 9/27/20[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
All borrowers who have existing loans as of March 1, 2020[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
6 months whereby the SBA makes all required principal, interest and fee payments for the borrower.[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Must apply for “Debt Relief” [/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
Contact existing Lender that is servicing your loans and request “Debt Relief for COVID-19″[/vc_column_text][vc_empty_space height=”16px”][vc_column_text]
www.SBA.gov[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row full_width=”stretch_row” gap=”35″ disable_element=”yes” css=”.vc_custom_1586863847498{margin-top: -40px !important;padding-bottom: 16px !important;background-color: #ececec !important;}” el_id=”first-row”][vc_column width=”1/5″ css=”.vc_custom_1586862288734{margin-right: 32px !important;}”][vc_column_text]
PROGRAM
[/vc_column_text][/vc_column][vc_column width=”2/5″][vc_column_text]
- Tax Filing
- Unemployment Insurance
- Short-Time Unemployment (Shared Work Programs)
- Pandemic Assistance Unemployment
- Employee Retention Credit
[/vc_column_text][/vc_column][vc_column width=”2/5″][vc_column_text]
- Sick / Emergency Leave
- SBA Express Bridge Loan
- SBA – Economic Injury Disaster Loan (EIDL)
- Paycheck Protection Program (PPP)
- Debt Relief
[/vc_column_text][/vc_column][/vc_row]