Governor Larry Hogan and the Maryland Department of Labor have announced additional funding is available beginning Wednesday, October 28th through the successful COVID-19 Layoff Aversion Fund, which is designed to support small businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. The award (up to […]
COVID-19
Harford County Grants
Small Business Relief and Business Owner Assistance are still available if you did not apply previously. https://www.harfordcountymd.gov/2880/COVID-19-Business-Relief-Grants Winter Restaurant Relief Grant New Restaurant Relief Grants now available even if you already received another Harford County Grant. http://www.harfordcountymd.gov/2879/Restaurant-Relief-Grant
Baltimore County COVID-19 Small Business Restaurant Reimbursement Program
Eligible businesses can apply thru Monday, November 16 to be considered for the funding. https://www.baltimorecountymd.gov/departments/economicdev/covid19-assistance/restaurantreimbursement.html
Paycheck Protection Program Loan Forgivenss
For Borrowers Paycheck Protection Program (PPP) borrowers may be eligible for loan forgiveness if the funds were used for eligible payroll costs, payments on business mortgage interest payments, rent, or utilities during either the 8- or 24-week period after disbursement. A borrower can apply for forgiveness once it has used all loan proceeds for which […]
No PPP Loans Today, but You Can Still Get $150,000 from the SBA
Can your business use an infusion of cash to deal with losses caused by the COVID-19 epidemic? The hugely popular federal Payroll Protection Program (PPP) loan program that paid forgivable loans to millions of businesses ended on August 8 (although it could come back in revised form). But you can still obtain a low-interest Emergency […]
PPP Update: Two New Rules for Owners of S and C Corporations
The Payroll Protection Program (PPP) rules—they keep a-changin’. During the past month, the Small Business Administration (SBA) issued a new set of frequently asked questions (FAQs) and a new interim final rule, which in combination create the following good news for the Payroll Protection Program (PPP): More forgiveness. The $20,833 cap on corporate owner-employee compensation […]
Seven Things to Know Before You Take Out an EIDL
Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back. But they have a low 3.75 percent interest rate and a long […]
Working at Home? Don’t Overlook These Deductions
Whether you claim a business office in the home or are simply working at home, say because of COVID-19, you likely have some former personal assets that you now use for business. Ah, new tax deductions! Yep. Say you don’t claim a home-office deduction but now you are working at home and sitting in the […]
The Changing College Landscape
The 2020-2021 academic year is right around the corner, and the coronavirus pandemic has upended the college world, like everything else. Not only has COVID-19 impacted short-term college operations and student summer plans, but the virus could end up being the catalyst that changes the model of higher education in the long term. Here are […]
IRS Outlines Changes to Health-Care Spending Rules Under CARES Act
The amended rules under the Coronavirus Aid, Relief, and Economic Security (CARES) Act provide flexibility for health-care spending related to the ongoing COVID-19 pandemic. 1 High-deductible health plans cover telehealth services Under the CARES Act, a high-deductible health plan (HDHP) can temporarily cover telehealth and other remote care services without a deductible, or with a deductible […]
