The Employee Retention Tax Credit (ERTC) was extended through December 31, 2021, with the passage of the American Rescue Plan in March; given the wind of Congress’ discussions, it seems unlikely that it will be extended further. However, employers can still take advantage of the ERTC, though they will want to act quickly. If you …
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The U.S. Small Business Administration (SBA) and Department of the Treasury recently released a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act, signed into law on June 5, 2020. In addition, the SBA introduced a new EZ version of the forgiveness application to help simplify the forgiveness applications for …
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By far the most intriguing, and often confusing, aspect of the Paycheck Protection Program (PPP) has been the loan forgiveness. When the PPP program was first announced many businesses yearned for support but were wary about taking on debt. The loan forgiveness aspect of the PPP transformed the program into the lifeline businesses sought. The …
The Paycheck Protection Program has been a critical lifeline for many businesses during the current economic crisis. However, for a multitude of reasons, the requirements concerning the program have been a moving target. An area of great concern for many organizations is the good-faith certification. The CARES Act set the certification requirement for the program …
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The United States Treasury has just now distributed detailed information regarding the Paycheck Protection Program including an application. We wanted to get it out to our clients as quickly as possible. Here are links to the information as well as the application directly from the United States Treasury: Top-line overview of the Paycheck Protection Program …
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Relief for small businesses is here! While the details are emerging, here is what we know about the Paycheck Protection Program so far. Purpose is to provide incentives to businesses to retain employees during this crisis period that is related to COVID-19. Qualified Businesses include for-profits and non-profits with less than 500 workers. Funding covers expenses from February …
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On March 18th H.R. 6201 – Families First Coronavirus Response Act (FFCRA) was signed into law offering emergency support and requiring paid leave for small business employees affected by coronavirus. The intent of the bill is to support employees who are unable to work for COVID-19 related reasons. While this creates a significant burden for small …
Continue reading “Treasury, IRS and Labor Announce FFCRA Payroll Tax Credits”
We, at Ludwig Business Consultants, stand together with you, our trusted clients, colleagues, and friends during a time of great uncertainty. We are in process of creating a Business Assessment Center to lead you through today’s immediate needs and tomorrow’s recovery. Here is a link to a Temple hosted SBDC webinar relative to Local Funding opportunities for …
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