If you already have an SBA loan, you will have no payments on principal, interest or fees for six months (it is unclear whether this is forgiven or just deferred). More details on loans for small businesses can be found here.
Everyone can defer the 6.2% social security tax for 2020 and pay it over two years (half on Dec 31, 2021 and half on Dec 31, 2022). If you had operations suspension or a 50% reduction in quarterly receipts when compared to prior year’s same quarter, you may be eligible for tax credits up to …
Employers May Defer Social Security Tax, May Claim Tax Credits Read More »
The CARES Act provides for a loan of up to 2.5X your average monthly payroll to basically help pay for 8 weeks of payroll, healthcare, rent and utilities – you need to talk to your bank: The SBA disaster loan is still in place for up to $2M loans, but the newly-passed CARES act created a new …
CARES Act May Help Employers Pay For 8 weeks Of Payroll, Rent, Utilities Read More »
The Ohio Development Services Agency has secured approval from the U.S. Department of Health & Human Services (HHS) to extend the Winter Crisis Program from March 31, 2020, to May 1, 2020, and to extend the Home Energy Assistance Program (HEAP) from March 31, 2020, to June 1, 2020. The Winter Crisis Program helps income …
Companies and nonprofits impacted by COVID 19 cannot survive or thrive without adequate capital. To position these companies and nonprofits for success, the Montrose Group is hosting a webinar on Friday, March 27, 2020 at 10am Eastern time to review with national experts COVID 19 Small Business Finance Options. Topics to be discussed include the …
All health insurers are required to provide the option of deferring premium payments, interest free, for up to 60 calendar days from each original premium due date. This means that employers can defer their premium payments up to two months, giving them some relief on costs, while keeping their employees insured.https://iop-odi-content.s3.amazonaws.com/static/Legal/Bulletins/Documents/2020-03.pdf
To help businesses facing difficulties due to the COVID-19 pandemic, the Ohio BWC is announcing the deferment of insurance premium installment payments for March, April and May until June 1, 2020. For more information, visit bwc.ohio.gov.
The Ohio Department of Job and Family Services provides food, cash and medical assistance to individuals and families in need. To review eligibility requirements and apply for assistance, please visit: https://benefits.ohio.gov/.
The IRS has extended the filing deadline and federal tax payment date, regardless of amount.For more information, go to this site:https://www.irs.gov/coronavirus
As mentioned in a previous post, some of the usual rules of Ohio Unemployment (including the one week waiting period) have been relaxed. This following site will answer a number of your questions regarding unemployment as it relates to coronavirus and “non-traditional” work situations. There is also a link on the page that will allow …