As part of the new stimulus package signed by President Trump today, $349 billion is being allocated to assist small businesses with loans. The loans will be administered through the SBA 7a loan program via qualified commercial lenders and pertain to companies that have seen business decline as a result of COVID-19.
Topics: ohio, workplace productivity, Management, 2020, Workplace Culture, Coronavirus, Stay at Home Order, SBA Disaster, COVID-19, Loan, SBA, Small Business Administration, Small Businesses, CARES Act
Last night, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the CARES Act and includes an employee retention credit for employers that close or partially close due to the coronavirus pandemic. Eligible employers are allowed a credit against employment taxes equal to 50% of qualified wages (up to $10,000 in wages) for each employee.
Brixey & Meyer has created a dedicated team to help business owners file for the Small Business Administration (SBA) disaster relief loans in response to the COVID-19 pandemic. It is designed to assist small businesses suffering substantial economic injury, providing you with low interest working capital.
Effective tonight, Monday March 23, 2020 at 11:59pm, the state of Ohio has issued a Stay at Home Order until at least April 6, 2020 at 11:59pm. The order identifies businesses and operations deemed essential and therefore exempt. You can read the full order HERE.
As of March 19, 2020, there are different programs available to taxpayers as a response to COVID-19. Below are summaries of the programs available:
During a press briefing on March 17, Treasury Secretary Steven Mnuchin announced that certain 2019 tax payments can be deferred until July 15th.
We are so excited to introduce you to Alex, one of our newest team members! He is a Manager in our Audit & Assurance Services group making things happen in Cincinnati on the daily!
We are so excited to introduce you to Sam, one of our newest team members! He is a Staff Accountant in our Audit & Assurance Services group making things happen in Cincinnati on the daily!
Planning on making charitable gifts in 2020 and want to be tax efficient when doing so? There are many ways but below are a few common options...
We are so excited to introduce you to Missy, one of our newest team members! She is a Manager in our Tax and CFO Services groups making things happen in Columbus on the daily!