We’ll prepare and file your Small Business Disaster Loan application.
The recently passed $2.2 trillion CARES Act includes the Disaster Loan Program through the Small Business Administration (SBA). Businesses impacted by the coronavirus pandemic can apply for low-interest small business disaster loans of up to $2 million that could potentially be forgivable. It’s a complicated process, but we can help.
Talk to an accountant today to find out if you qualify for federal disaster assistance. We’ll document your losses, maximize your tax benefits and get you the relief you’re entitled to.
Our small business consultants are on top of the latest developments and will walk you through what the CARES Act means for your business.
Your dedicated accountant will help you get your books in order and prepare your stimulus loan application for submission to the SBA.
Your accountant will file the application with the SBA on your behalf and advise you and what steps your business should take next.
The Coronavirus Aid, Relief and Economic Security (CARES) Act offers small businesses and the self-employed several avenues for obtaining the assistance they need. Follow our stimulus updates.
The stimulus package includes $1,200 for individuals, $2,400 for joint-filing couples and $500 per child under 17 of tax-free money for every man, woman and child – including business owners and the self-employed.
Business Assistance and Exchange Stabilization Fund
This fund provides $454 billion in loans and grants to businesses affected by the disaster.
Economic Injury Disaster Loan (EIDL) Program
The Senate dedicated $250 billion to small business loans with up to $2 million available per business. Businesses that have applied can get an immediate advance of up to $10,000.
Employee Retention Credit
Qualifying employers can receive a one-year credit equal to 6.2% of Social Security payroll taxes, and your business will receive a credit equal to 50% of qualified wages through the end of 2020.
Tax Payment Delay
Employers and the self-employed can delay tax payment for up to two years.
Pandemic Unemployment Assistance
The bill expands unemployment insurance to self-employed workers and independent contractors and extends unemployment benefits for 13 more weeks.
Other Tax Benefits and Changes
Our tax specialists have learned the changes in tax laws that affect small businesses, so you don’t have to.