Now that small businesses across the county have begun to receive their paycheck protection loan proceeds many will ask themselves, how do I insure I use these proceeds properly in order to maximize the portion that qualifies for forgiveness. Below are Q&A’s of some of the most commonly asked questions regarding loan forgiveness under the […]
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, is designed to encourage eligible employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit). The Families First Coronavirus Relief Act (FFCRA) requires certain employers to pay […]
This past Friday, April 3rd, 2020 our federal government rolled out its much anticipated Paycheck Protection Program (PPP). The program was designed, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES), to loan money to small businesses who have been greatly affected financially by the COVID-19 pandemic. Small businesses would use the […]
On Friday March 27th, 2020 the President signed into law the Coronavirus Aid, Relief and Economic Security (“CARES”) Act which provides Americans with various economic resources during these challenging times. One of the main objectives of the Act is to keep Americans paid and employed. The Payroll Protection Program (“PPP”) allocates $349 billion to support […]