Subchapter V: A silver lining for small businesses mulling bankruptcy

Many small businesses continue to struggle in the wake of the coronavirus (COVID-19) pandemic. Some have already closed their doors and are liquidating assets. Others, however, may have a relatively less onerous option: bankruptcy. Although bankruptcy obviously isn’t an optimal outcome for any small company, there may be a silver lining: A new bankruptcy law […]

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Hiring independent contractors? Make sure they’re properly classified

As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. The question of whether a worker is an […]

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PPP Forgiveness- Overview and FAQs

PPP Loan Forgiveness is not automatic.  Keep reading to be sure you know what is required.  Key Points: There are specific criteria that must be met for the PPP loan to be forgiven. The CARES Act is currently full of confusion, inconsistency and gray areas regarding forgiveness. You will need to request forgiveness from your lender.  […]

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Answers to questions you may have about Economic Impact Payments

Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some answers to questions you may have about EIPs. Who’s eligible to get […]

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Covid-19 Shutdown – Do I Layoff Now or Wait?

I would like to provide some advice to business owners who are struggling with the difficult decision to layoff and let employees collect unemployment, or keep paying them as long as you can.  My advice is to think long term.  What is best for the employees and the company in the long term.  The best […]

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What Matters Most

I gathered our team together these past two mornings to review where we are as a company and remind them of our four “matters” during these tough times. Families matter: I let them know that we care for them, that we are going to take care of them and their families as best we can. […]

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