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 »