Fresh perspective for financial success
Category: BHG Briefs
The Paycheck Protection Program (PPP) was designed to support small business owners through the economic shutdown caused by the coronavirus pandemic, specifically to help with payroll and related costs like healthcare and other benefits. If employers use all PPP funds within a certain timeframe, for approved purposes, the loan could potentially be forgiven in its entirety.
COVID-19 has had a drastic impact on the daily lives of business owners, employees, and their families. To help ease the burden of navigating sick leave and childcare during this time, new tax credits have been introduced by the US Government. These credits are designed to help business owners take care of employees and their families while maintaining their businesses during this crisis.
Question: What does the new Employee Retention Tax credit mean for small business owners? Answer: An opportunity for immediate tax relief for businesses struggling to make payroll due to COVID-19. Across nearly every industry sector, COVID-19 has forced business owners to navigate unprecedented operational circumstances. Many are seeking answers to questions regarding the welfare of their employees, and the…
Question: What trends and challenges are emerging across the dental industry, and what financial resources are available to help dentists reopen? Answer: Dental practices are among the hardest hit by COVID-19-related shutdowns, and while relief efforts are being made, financial options can help bridge the gap in the meantime. State of the Industry Dental professionals make up nearly 36% of the 1.4 million healthcare workers…
Question: What do I need to know about filing 2019 taxes in the wake of COVID-19? Answer: Some major tax filing deadlines have changed, while quarterly deadlines have stayed the same, and both may affect individuals and business owners alike. Nearly every area of American life and business has been disrupted by COVID-19, and Tax Day 2020…