On March 27th, 2020, Congress passed the CARES ACT, which included provisions that allowed banks to lend up to $349 billion in the Paycheck Protection Program set up by the Small Business Administration.  The rules have changed several times and are likely to change again.  For the time being, businesses… [Read more]

During prior government closures, the IRS still was able to have essential workers be in federal buildings to process tax returns, sort mail, and process payments. The recent coronavirus pandemic blew that scenario out of the water due to health concerns, spread rate, and social distancing. 90% of US taxpayers… [Read more]

The California Employment Development Department (EDD) has been overwhelmed with claims for unemployment insurance, as the numbers of Californians applying for the benefit increases every day. The receipt of unemployment insurance benefit is a right of California employees and those workers that are classified as independent contractors do not enjoy… [Read more]

Despite pressure, publicly held companies in business sectors from hotels to cruise ships are refusing to give back SBA PPP funds.  The SBA has  said that public companies with “substantial market value” and the ability to raise money through capital markets were not the intended recipients of the Small Business… [Read more]

It’s safe to say that everyone has been impacted by the COVID-19 pandemic, but small businesses have been hit especially hard by consequential long-term closures and plummeting sales. While it’s important to be creative when cutting costs in times like these, it’s equally pertinent to keep your business aligned with… [Read more]

Long-term closures caused by COVID-19 have led many companies to make massive cuts, mostly by furloughing or laying off their employees. However, qualified companies have the option to enroll in the EDD Workshare Program, which allows a business to pay full salaries to its workers who have had to reduce… [Read more]