COVID-19 Small Business Relief Options
Small businesses are facing unprecedented economic hardship due to the Coronavirus (COVID-19) outbreak. The CARES Act, signed into law on March 27, 2020, provides $376 billion in relief for American workers and small businesses. Give us a call today and let us help you find the relief options that are right for your business.
Paycheck Protection Program (PPP)
The Paycheck Protection Program helps businesses keep their workforce during the COVID-19 crisis. Designed to help businesses keep their workers on their payroll, The PPP loan will be forgiven if all employees are kept on the payroll for at least eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The program is available through June 30, 2020.
Economic Injury Disaster Loan Emergency Advance
The Economic Injury Disaster Loan Emergency Advance is an advance of up to $10,000 of relief to small businesses that are experiencing a temporary loss of revenue due to COVID-19. Small businesses with less than 500 employees qualify for this program. Businesses in certain industries may have more than 500 employees if they meet certain size requirements. Funds from the Economic Injury Disaster Loan advance will be made available within days of approval. This loan advance will not have to be repaid.
Jay Finn, CPA and all the team provide tax, accounting, tax resolution, business consulting and formation services to Houston businesses during all economic climates.
Specifically, we provide tax advice for small businesses including entity selection to protect assets, minimize liability, and decrease taxes as well as settlements for payroll and income taxes. Based in Houston, Texas, Jay Finn is a former IRS agent and the CPA company is a member of the BBB since 2008 with an A+ rating. Jay Finn, CPA, has countless reviews and testimonials available on the website as well as from current corporate clients that Jay Finn, CPA, serves.