The Senate CARES Bill (Coronavirus Aid, Relief, and Economic Security Act)

Source: Estimates for third relief bill based on bill text, committee and administration numbers.

Credit: Audrey Carlsen/NPR

The Senate developed $2 Trillion dollar, multi-faceted legislation attacking this disaster from multiple sides: tax and debt relief, small business loans, unemployment expansion, and individual stimulus payments. They see we’re hurting and they aren’t playing around.

Incentive and assistance for small businesses to keep employees working

The bill creates a “paycheck protection program” for

• Self-employed individuals
• Small businesses
• “Gig economy” workers

Hey solopreneurs and giggers, you finally aren’t being excluded from the group and chastised for being your own boss! Congratulations!

Let’s take a big bite and jump in.

INDIVIDUAL TAXES

They will need your individual 2019 taxes (and valid social security numbers) in order to cut...

SBA Disaster Relief Loan

As small business owners and as a community, all of us are sailing in uncharted waters. All of us are in the same boat, filled with uncertainty and fear.  What does the future hold?  Is my business going to survive this?  How am I going to pay my bills?  There are so many concerns that all of us have and most of it is deeply rooted in our financial situation and future.  There are a number of economic stimulus packages that are being discussed locally and federally.  As of today, March 21st, there are not many options available.  However, our representative and community leaders are working diligently to provide us with a little relief.  The first financial option to become available to small business is the Small Business Administration (SBA) Disaster Loan program.  This is the fist time in the history of the SBA that this loan has been made available for a pandemic (these loans are generally leveraged...

3/26 Update: 

We now have a workplace poster about the FFCRA (Families First Coronavirus Response Act) and employee rights in regards to paid sick leave and the expanded family and medical leave.

This will need to be posted with the rest of your employment posters in a common area by April 1st. There has no been specific guidance on methods to notify your remote workers but we suspect there will be soon. We will keep you updated, however, have a plan in place to provide this to remote workers such as email, posting to a payroll portal where employees regularly log in, or printing and mailing. 

If you have already laid off some of your workforce, there’s no need to alert them.

 FFCRA Workplace Post (Non-Federal)

The U.S. Department of Labor sent out a bulletin about 30 days of non-enforcement between March 18 and April 17, 2020 as long as employers act reasonably and in good faith to comply with the FFCRA. One thing to note is this does not protect you from...

Today, we are looking at extremely tough times for all small businesses.  Along with tough times, we will be forced to make some very tough decisions.  When it comes to the future of our employees, the future is quite unknown to all of us.  One of the most difficult decisions that we will be facing is what to do with employees that we may not be able to keep busy, now and in the future.  No matter which way you slice it or dice it, this is a hard call.  However, laying off non-essential employees may be the difference between keeping your business or closing your doors.

Did you know that there are different types of layoffs that may provide you with a little more flexibility in how you maneuver these turbulent times?  Let’s take a moment to look at the different types of layoffs and what they mean to you as a small business owner:

Work Share Program- The Work-Share Program provides an alternative to laying off employees...

News Alert!!

The Colorado Department of Labor has issued a temporary leave rule to assist workers in specific industries within the state of Colorado to assist in the containment of Covid-19. 

The Colorado Health Emergency Leave with Pay is a temporary rule that requires employers in the below industries to pay four days of wages to employees with flu-like symptoms who are in the process of Covid-19 testing.

Impacted Industries:

• Leisure and hospitality
• Food services
• Child care
• Education, including transportation, food service, and related work with educational establishments
• Home health, if working with elderly, disabled, ill, or otherwise high-risk individuals
• Nursing homes
• Community living facilities

Is My Business Impacted?

If your business operates in on the of the above industries, then, yes.  This rule covers ANY employer engaged in the above service offerings... even if it is only a small portion of what your business does.  For example, if you own a...

Updated: March 17, 2020

The Coronavirus has been making headlines over the past two months.  Now that this bug has hit US soil, the buzz is much greater and scarier.  The media is telling us to run for cover and self-quarantine and buy up all of the toilet paper and bleach wipes you can find (hint: there are still some bleach wipes at Home Depot).  Outside of the media, people are torn, we hear a ton of information, but we are unsure of what to believe. 

As you are reading this blog we are seeing more and more forced closures.  Ski resorts, restaurants, gyms, and other public gathering locations have already experienced forced closures.  Unfortunately, we are seeing the likeliness of more and more closures.  Small business are going to feel a tremendous impact today and in the long-term future.  Taking precautions and making plans now, will help to minimize the impact.  Who knows what the fallout will be, but it's time to prepare for...