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Alerts

New Law Provides Flexibility on PPP Loan Forgiveness

Under a new federal law effective June 5, 2020, the requirements for PPP loan forgiveness have been relaxed in favor of small businesses. The new rules are: More time to use the loan: Instead of having to use your PPP loan in the 8 weeks after you get it, the new law gives you either […]

Governor Moves Florida into Phase 2 of Re-Opening

Effective June 5, 2020, the State of Florida (except for Broward, Miami-Dade, and Palm Beach counties) enters Phase 2 of re-opening the state for business. In Phase 2, additional businesses will be allowed to re-open, but not in Broward, Miami-Dade, and Palm Beach counties. Restaurants are still limited to 50% capacity inside, but they now […]

PPP Loan Forgiveness Application and Instructions

On March 27, 2020, the United States Congress approved a coronavirus relief bill called the CARES Act that created the Paycheck Protection Program (PPP) to provide forgivable loans to small businesses so they could pay their employees during the pandemic.­ PPP loans are intended to provide 8 weeks of cash to cover payroll, rent, utilities, […]

No Sales Tax on Hurricane Supplies May 29 – June 4

To help Floridians prepare for hurricane season, certain hurricane supplies like batteries, flashlights, generators, and coolers will be exempt from state sales tax from May 29 through June 4. Click here for a bulletin from the Florida Department of Revenue with a list of all the items that will be tax-free. Free Webinar on Returning […]

Restaurants, Retail Stores, and Gyms Can Operate at 50% Capacity in Florida

Restaurants and retail stores in Florida may now increase their capacity to 50% (the previous limit was 25% capacity). Gyms and fitness centers may open at 50% capacity (except in Broward and Miami-Dade counties). For a one-page summary from the Governor’s office about what businesses may now be open in Florida, click here. Restaurants Restaurants […]

Some Businesses Allowed to Reopen in Miami-Dade and Broward Counties

Effective Monday, May 18, 2020, Miami-Dade and Broward counties will allow restaurants, stores, and salons to re-open with restrictions. Bars, gyms, and spas must remain closed.  Face coverings/masks must be worn inside businesses or wherever social distancing is not possible.  This includes employees, customers, clients, and visitors.  Keep in mind that just because a business […]

More Florida Businesses Allowed To Reopen May 11th

Barbershops, Hair & Nail Salons Effective today, May 11th, Florida Governor DeSantis is allowing barbershops, hair salons, and nail salons to reopen as long as social distancing guidelines are enforced and the following precautions are taken:  Customers must be by appointment only; no walk-ins are allowed. Salons must allow at least 15 minutes between appointments […]

Small Businesses Can Defer Payroll Taxes

Employers are responsible for withholding Social Security and Medicare payroll taxes from their employees’ paychecks and paying these taxes along with the employer’s share to the IRS each month.  The Social Security tax is 12.4% total, with 6.2% withheld from the employee’s wages and the employer paying 6.2%.  The Medicare tax is 2.9%, with 1.45% […]

PPP Loans Resume

The Paycheck Protection Program (PPP) was supposed to provide forgivable loans to small businesses so they can pay their payroll, rent, and utilities for 2 months.  About 10 days ago, the PPP loan program ran out of money, so the US Small Business Administration stopped accepting PPP loan applications. Last Thursday, Congress approved an additional […]

More Funding is Coming for Small Business Loans

Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) Update As many small businesses are painfully aware, the federal and state loan programs for small businesses affected by the coronavirus have run out of money. The Paycheck Protection Program (PPP) loans and the Economic Injury Disaster Loans (EIDLs) have stopped taking applications due to […]