FREE NFIB Webinar: What You Must Know on Making use of for A Second (or preliminary) PPP Mortgage!
Don’t miss NFIB’s PPP and COVID-19 consultants, Beth Milito and Holly Wade, as they go step-by-step on easy methods to apply for a PPP mortgage:
- Who’s eligible?
- The place to use?
- New software kind
- Find out how to calculate mortgage quantity
- And extra!
(You probably have EIDL or Covid paid sick depart questions, we welcome them as effectively!)
Creation of On-line Lessons Hosted by Allegany School of Maryland
From the Workplace of Delegate Mike McKay:
Delegate Mike McKay (District 1C) and Improvement Coordinator Invoice Valentine are proud to announce the creation of an internet class, hosted by Allegany School of Maryland. This class has been designed for small companies, non-profits, home-based companies, and entrepreneurs. Each Delegate McKay and Improvement Coordinator Valentine, each small businessmen, really feel that COVID-19, has created a brand new set of challenges for enterprise. To compete efficiently, the power to conduct enterprise on the web can be extra necessary than ever earlier than. If there’s a want for presidency to once more place restrictions on enterprise, an on-line presence will assist companies to proceed.
The buying and selling class being supplied, can be an internet class, lasting 13 weeks, one module per week. Such a category would usually value a participant over $500.00, however ACM is ready to provide this class for lower than $50.00 to aide our group. Web gross sales and advertising can be a few of the major focuses of the course. Web site creation and administration can be taught. Promoting by means of social media can be one other focus.
Latest Regulation Clarifies and Expands CARES Act Worker Retention Credit score
The Inside Income Service urges employers to reap the benefits of the newly-extended worker retention credit score, designed to make it simpler for companies that, regardless of challenges posed by COVID-19, select to maintain their staff on the payroll.
The Taxpayer Certainty and Catastrophe Tax Reduction Act of 2020, modified and prolonged the Worker Retention Credit score (ERC), for six months by means of June 30, 2021. A number of of the adjustments apply solely to 2021, whereas others apply to each 2020 and 2021.
Efficient January 1, 2021, employers are eligible in the event that they function a commerce or enterprise throughout January 1, 2021, by means of June 30, 2021, and expertise both:
- A full or partial suspension of the operation of their commerce or enterprise throughout this era due to governmental orders limiting commerce, journey or group conferences as a consequence of COVID-19, or
- A decline in gross receipts in a calendar quarter in 2021 the place the gross receipts of that calendar quarter are lower than 80% of the gross receipts in the identical calendar quarter in 2019 (to be eligible primarily based on a decline in gross receipts in 2020 the gross receipts have been required to be lower than 50%).
Because of the brand new laws, eligible employers can now declare a refundable tax credit score in opposition to the employer share of Social Safety tax equal to 70% of the certified wages they pay to staff after December 31, 2020, by means of June 30, 2021. Certified wages are restricted to $10,000 per worker per calendar quarter in 2021. Thus, the utmost ERC quantity out there is $7,000 per worker per calendar quarter, for a complete of $14,000 in 2021.
For extra data, see:
Minority Enterprise Fund Based by 4 Group Banks:
UNEMPLOYMENT INSURANCE FRAUD