As we all navigate our way through these difficult times, Nansemond Insurance is here to help. The attached SBA Owners Guide to the CARES Act can provide you steps in taking advantage of the relief funds available for you (including the loan application procedures). Grants may be available now for your business, please refer to the ‘Economic Injury Disaster Loans & Emergency Economic Injury Grants’ section starting on page 7 of the SBA Owners Guide. Click here for the SBA Owners Guide. Click here for additional information on the CARES Act.
Tax Relief and COVID-19: Federal Tax Credits for Small and Midsize Businesses to Recover Costs of Coronavirus-Related Leave
The attached article is courtesy of: Setliff Law, P.C. 4940 Dominion Boulevard Glen Allen, VA 23060; Phone: 804-377-1276; Email: firstname.lastname@example.org
On March 20, 2020, the U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees.
The Act will give all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation will enable employers to keep their workers on their payrolls, while at the same time ensuring that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus. Click here to read more.