Dear clients and friends,
Some resources to help your small business during this uncertain time:
The April 15th deadline for payment of individual and corporate (forms 1040 and 1120, respectively) taxes owed has being extended 90 days.
This includes balances owed under $1,000,000 for individuals and $10,000,000 for corporations. Tax returns are still due April 15th however, without an extension.
For our Florida clients facing the COVID-19 disaster, please check out https://floridadisasterloan.org/ to see if you may qualify for a bridge loan.
Go to: https://disasterloanassistance.sba.gov/ela/s/ to check and see if the county that you operate your business out of has been declared a disaster zone eligible to apply for an SBA loan. The SBA updated their site today.
We're closely monitoring house bill 6201 for more relief efforts and will inform you as we know more. In the meantime, reach out to your vendors and creditors and try to negotiate payment terms. Speak to your landlords about our rent responsibilities and see what can be done there. If you need to temporarily layoff staff, direct them to unemployment benefits. If staff can continue to work, mitigate or discontinue any overtime.
If you would like to schedule a call to discuss your business's options one to one, please let me know.
We're here and will be here during this Corona Virus pandemic.