Tag Archives: SBA Loans

COVID-19 Employer Payroll Tax Deferral UPDATED

Posted on June 5, 2020 by Carol

Updated 06/05/2020   SBA PPP Loan Forgiveness recipients, upon Paycheck Protection Program Flexibility Act becoming law, can now defer the employer share of Social Security and Medicare payroll taxes incurred through the end of the year.  Previously, SBA PPP Loan recipients … Continue reading →

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COVID-19 Congress Makes PPP Loan Forgiveness A Bit Easier!

Posted on June 4, 2020 by Carol

Last week, on May 27, 2020 the House passed legislation, Paycheck Protection Program Flexibility Act, H.R. 7010, loosening the requirements for PPP loan forgiveness.  Yesterday, the Senate, while not in full session, unanimously consented to the House version of the … Continue reading →

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COVID-19 SBA PPP Legislative Update

Posted on June 4, 2020 by Carol

Changing the PPP rules would be of great benefit across the board. Congress’ CARES Act was based on a two-month period. Congress did not anticipate or plan for many of the glitches and questions things that have unfolded since initial passage. Last week, … Continue reading →

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#COVID-19 Still Some PPP Left

Posted on May 22, 2020 by Carol

Word on the street is there remains $70 billion in SBA PPP funding. That first 349B$ April 3 was gone in a matter of several days. Near the end of April, it was replenished with 310B$. Plus, all the returns-the … Continue reading →

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#COVID-19 PPP Loan Forgiveness and Furloughed Employees Part 3 of 3

Posted on May 14, 2020 by Carol

You want them back but you really shouldn’t call or text. Give the furloughed employee a written Offer of Recall that documents: Return to work date. Terms of employment – Position, Supervisor, Responsibilities/Job description, Salary/hourly rate, Hours, and whether Exempt/Non-exempt … Continue reading →

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#COVID-19 Employer Payroll Tax Deferral

Posted on May 7, 2020 by Carol

“Section 2302 of the CARES Act provides that the payment and deposit of the employer’s share of the social security portion of FICA tax and the employer’s share of the social security portion of RRTA tax for deposits that are … Continue reading →

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#COVID-19 Helping our Hair Stylists, Our Barbers & Our Cosmetologists

Posted on April 13, 2020 by Carol

We realize this may not directly relate to all of our clients. But if it can help you, or a Family Member, or a Friend – – please keep reading. If you know someone you can pass this along to … Continue reading →

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UPDTD #COVID-19 Paycheck Protection Program (CARES) Part 1 – The Loan

Posted on April 8, 2020 by Carol

COVID-19 Paycheck Protection Program (CARES) Part 1 – The Loan UPDATED 04/08/2020 Coronavirus Aid, Relief, and Economic Security. CARES among many other things provides 349 Billion $$$ in forgivable loans used to pay employees and to a lesser extent, other … Continue reading →

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#COVID-19 UPDTD SBA Economic Injury Disaster Loans (EIDL)

Posted on March 30, 2020 by Carol

Updated 04/14/2020 for SBA clarification Our whole nation is a declared disaster area. Structures are still standing and the power is on. But the financial fallout is everywhere. An SBA Economic Injury Disaster Loan could provide the necessary working capital … Continue reading →

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