Blog

Year: 2020

Hennepin County Small Business Relief Program

May 1, 2020 by Sheila Denny-Andrews
Copeland Buhl
In order to provide support to businesses impacted by COVID-19, Hennepin County implemented the Small Business Relief Program which was “designed to help small local businesses meet immediate financial needs.” This program provides emergency forgivable loans up to $7,500 to pay for critical operating expenses, such as: Utilities Rent/Mortgage payments...
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Deferral of Employer Social Security Tax Payments

April 21, 2020 by Ali Carbo
Tax Services
The CARES Act includes a provision allowing employers and the self-employed to defer a portion of social security tax payments for the remainder of 2020.  Employers All employers are eligible to defer payment of the employer portion of social security taxes on wages paid from March 27, 2020 through December...
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CARES Act - Employee Retention Credit

March 31, 2020 by Jason Kindseth
Tax Services
Background The new law establishes a payroll tax credit for employers subject to closure or experiencing economic hardship due to COVID-19. The business must meet one of two tests for its wages to qualify for the credit: 1. Business is fully or partially shut down due to orders from a...
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