COVID-19 Tax & CARES Updates

 

  • EO Member & CEO of Peach Cap, David Miller is providing immediate emergency assistance to all EO Members and Accelerators now that the 2 Trillion Dollar Bill passed yesterday. Also offering complimentary CPA/Tax consulting on payroll tax credits, SMB relief, etc…given these unprecedented tax benefits and credits being provided to small businesses and individuals. He also provided a 35 page condensed summary of the COVID bill to help you all. David Miller (David@peachcap.com) CARES COVID Bill

 

  • The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses. Importantly, these loans may be forgiven if borrowers maintain their payrolls during the crisis or restore their payrolls afterward. The administration soon will release more details including the list of lenders offering loans under the program. In the meantime, the U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals prepare to file for a loan. Here are the questions you may be asking— and what you need to know. Small Biz Coronavirus Loan Guidance
 

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