Free NFIB Webinar: What You Have to Know to Apply for a Second (or First) PPP Mortgage!
Do not miss NFIB’s PPP and COVID-19 consultants Beth Milito and Holly Wade for a step-by-step walkthrough on easy methods to apply for a PPP mortgage:
- Who’s eligible?
- The place to use
- New software type
- How you can calculate the mortgage quantity
- And extra!
(When you have any questions on EIDL or Covid paid sick go away, we welcome these too!)
Creation of on-line programs hosted by Allegany Faculty of Maryland
From Delegate Mike McKay’s Workplace:
Delegate Mike McKay (District 1C) and Growth Coordinator Invoice Valentine are proud to announce the creation of an internet course, hosted by Allegany Faculty of Maryland. This class was designed for small companies, nonprofits, house companies, and entrepreneurs. Delegate McKay and Growth Coordinator Valentine, each small entrepreneurs, consider COVID-19 has created a brand new set of challenges for companies. To be aggressive, the power to do enterprise on the Web might be extra necessary than ever. If the federal government has to impose restrictions on companies once more, an internet presence will assist companies hold going.
The proposed buying and selling class might be an internet class, lasting 13 weeks, one module per week. Such a course would usually value a participant over $ 500, however ACM is ready to provide this course for lower than $ 50 to assist our group. Web gross sales and advertising might be a number of the predominant goals of the course. Web site creation and administration might be taught. Promoting by social media might be one other purpose.
Current legislation clarifies and expands the worker retention credit score of the CARES Act
The Inside Income Service is urging employers to make the most of the newly expanded worker retention credit score, designed to make it simpler for companies who, regardless of the challenges posed by COVID-19, select to maintain their staff on the payroll.
The Taxpayer Certainty and Catastrophe Tax Reduction Act 2020 amended and prolonged the Worker Retention Credit score (ERC) for a six-month interval till June 30, 2021. A number of of the adjustments don’t apply till 2021, whereas others apply to each 2020 and 2021.
As of January 1, 2021, employers are eligible in the event that they function a commerce or enterprise between January 1, 2021 and June 30, 2021 they usually have:
- A complete or partial suspension from the operation of their commerce or enterprise throughout this era as a consequence of authorities orders proscribing commerce, journey or group conferences as a consequence of COVID-19, or
- A lower in gross receipts throughout a calendar quarter in 2021 the place the gross receipts of that calendar quarter are lower than 80% of the gross receipts of the identical calendar quarter in 2019 (to be eligible on the premise of a lower in gross receipts in 2020 the receipts needed to be lower than 50%).
Due to the brand new laws, eligible employers can now declare a refundable tax credit score on the employer’s share of social safety tax equal to 70% of the eligible wage they pay to staff after December 31, 2020 till June 30, 2021. Certified salaries are restricted to $ 10,000 per worker per calendar quarter in 2021. Thus, the utmost quantity of ERC 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