Business
New Guidance from the DOL on Administering FFCRA Leaves
The DOL has provided Questions and Answers document for employers, to provide guidance ahead of the implementation date on Wednesday, April 1. The following are some highlights from the updated guidance: These leaves are not available to employees with reduced hours, furloughed employees, or employees whose workplaces are closed. See questions 23-28. These leaves are…
Read MoreCOVID-19 Poster – Required Distribution by April 1 for all Businesses
Required FFCRA PosterThe Department of Labor (DOL) has released a mandatory employee rights poster for the FFCRA. It should be posted or distributed to employees electronically (via email or online portal) by April 1.
Read MoreQ&A – COVID-19 Emergency Loans
For Small Businesses: New COVID-19 Federal Assistance – CARES Act
The Cares Act, passed March 27, 2020, provides payroll and rent relief to small businesses. The Act includes a loan forgiveness provision for funds used to pay employees, rent, utilities or a mortgage. There is also a provision to defer payment of employer social security taxes with payment permitted over two years. Here is a…
Read MoreHelp for Small Businesses in Maryland
Maryland offers two programs to assist small businesses with fewer than 50 employees. The first is an emergency relief grant fund, and the second is an emergency relief loan funds. Maryland Small Business COVID-19 Emergency Relief Grant $ 50M Fund This fund offers working capital to assist Maryland small businesses and nonprofits with disrupted operations…
Read MoreFairfax County Help For Businesses due to Covid-19
Resources for Small Businesses – SBA EIDL Funding
U.S. Small Business Administration Disaster Loans The SBA is offering low-interest federal disaster loans for working capital up to $2 million to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Apply for a loan online Read an overview of loan eligibility and terms For questions about the loan program or…
Read MoreFamilies First Emergency Family and Medical Leave Expansion Act
Help for Employers and Employees Emergency Family and Medical Leave Act Requires companies with fewer than 500 employees to provide paid time off. Employers with fewer than 50 employees may be exempt if it would “jeopardize the viability of the business” Employers with fewer than 500 employees now must allow employees who have been employed…
Read MoreSBA EIDL Help for Small Businesses
Economic Injury Disaster Loan (EIDL) from the SBA The Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 Providing help to small businesses through the U.S. Small Business Administration (SBA) through low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). Read an overview of…
Read MoreFour tax strategies you can use to reduce your income taxes and increase your 20% Pass-Through Income Section 199A deduction
Strategy #1: Harvest your capital losses. If capital gains are hurting your Section 199A deduction, you still have time before the end of the year to harvest your capital losses. These losses can then be used to offset those “harmful” gains. Strategy #2: Do good and do well by making charitable contributions. You can use…
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