As we continue to share pertinent information and periodic updates on the Covid-19 outbreak, please feel free to reach out to me personally if you have any questions, comments or need direction concerning a specific issue. My cell is as follows: Julie (714) 889-9472.
Update as of March 26, 2020:
Resources for COVID-19 Paid Leave / Families First Coronavirus Response Act (FFCRA), SBA Loan Application, and B&O Tax Relief.
Informational Poster on the FFCRA, attached.
The Department of Labor has created an informational Poster on the FFCRA. Employers with less than 500 employees The must display the poster in a conspicuous place(s) that employees regularly visit. If your workforce is operating remotely at this time, the DOL stipulates that the notice can be electronically posted by emailing it to all current employees or posting it to an internal or external employee website.
The posting is available here www.dol.gov/sites/dolgov/files/WHD/posters/...
COVID Paid Leave FAQ
If you are looking for clarity on topics such as paid sick leave, emergency family and medical sick leave, SMACNA's Labor Relations team recommends reading through this FAQ to gain clarity and a better understanding of Families First Coronavirus Response Act (FFCRA), which includes the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act.
www.dol.gov/agencies/whd/pandemic/ffcra-questions
https://www.smacna.org/news/latest/archive/2020/03/20/covid-19-paid-leave-is-now-law
For more info or questions, contact:
Joye Blanscett, Director of Labor Services and Human Resource Management, SMACNA, jblanscett@smacna.org
Important Steps You Can Take Immediately to Prepare For An SBA Loan Application
If you plan on applying for any type of SBA loan in the near future it is critical that you start to get the following information together ASAP.
1. Three years of personal and business tax returns. Personal tax returns are for any individual who owns 20% or more of the company.
2. Try to get your 2019 tax returns done as soon as possible. But if they are not close the lender is going to need your 2019 year end financials
3. A personal financial statement for any owner who owns more than 20% of the company. A link to download can be found here: https://www.sba.gov/document/sba-form-413-personal-financial-statement-7a504-loans-surety-bonds
4. A debt schedule for your business. A link can be found here: https://www.sba.gov/sites/default/files/tools_sbf_sba202.pdf
5. Go into your Quickbooks and figure out your monthly operating expenses from March through August of last year. If this is not clear ask your bookkeeper or accountant for help. This data will be an important part of your loan application.
B&O Tax Relief
Revenue is taking the following measures to provide relief to COVID-19 impacted businesses during the state of emergency (February 29, 2020, through the end of the state of emergency, yet to be determined). These actions address a broad range of taxes and programs: business and occupation tax, real estate excise tax assessments, leasehold excise tax, forest tax, and tax deferrals for biotechnology and medical device manufacturing. Check back for updates or date extensions.
https://dor.wa.gov/about/business-relief-during-covid-19-pandemic
FFCRA_Poster_WH1422_Non-Federal.pdf
Julie Muller, Esq.
Executive Vice President
SMACNA - Western Washington