Consultant’s Corner
Consultant’s Corner: Changing Customer Expectations
Q: As a small business owner, what can I anticipate about consumer behavior as restrictive orders across the country are lifted? Previously, we discussed reevaluating and revising marketing plans. In doing so, questions may arise regarding a business’s target market, and how consumers’ spending habits may have been impacted by the Coronavirus (COVID-19) pandemic. The…
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Consultant’s Corner: Reevaluating Your Marketing After Covid-19
Q: As a small business owner preparing to re-open what should I be doing to evaluate and prepare past and future marketing activities? In last week’s post, we discussed researching CDC guidelines for business in relation to COVID-19 and the importance of implementing corresponding policies and procedures. Just as COVID-19 has elevated health and safety,…
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Consultant’s Corner: CDC Guidelines for Workplace Health and Safety
Q: As a small business owner, what should I be doing to keep my workplace safe as we reopen the business? As states across the country begin lifting shelter in place orders and other restrictive mandates for small businesses, business owners are preparing to re-open and embrace a “new normal.” As business owners make plans…
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Consultant’s Corner: Additional Funding for the Paycheck Protection Program
Q: How much additional funding was approved for SBA loan programs providing financial assistance in response to the Coronavirus (COVID-19) outbreak? In our previous blog post, we discussed the status of the congressional debate surrounding additional funding for the Paycheck Protection Program. After approval by both the Senate and the House of Representatives, President Trump…
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Consultant’s Corner: Updates on the Paycheck Protection Program
Q: What is the latest news regarding the Paycheck Protection (loan) Program? In previous weeks, we’ve discussed the Families First Coronavirus Response Act (FFCRA), the SBA Economic Injury Disaster Loan program, the Coronavirus Aid, Relief and Economic Security (CARES) Act and the resulting Paycheck Protection (loan) Program. On April 15th, 2020, the SBA announced that…
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Consultant’s Corner: The Paycheck Protection Program and the Self-Employed
Q: In regards to the Paycheck Protection Program, what is the difference between a sole proprietor, an independent contractor, and a self-employed individual? As an independent contractor or a self-employed individual, am I eligible for a PPP loan? When can I apply? In our previous blog post, we discussed the differences between Economic Injury Disaster…
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Consultant’s Corner: Economic Injury Disaster Loan vs. Paycheck Protection Program
Q: What is the difference between the SBA Economic Injury Disaster Loan Program and the Paycheck Protection Program? Can I apply for both? In our previous blog post, we discussed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the SBA Economic Injury Disaster Loan (EIDL) program, and the Families First Coronavirus Response Act (FFCRA).…
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Consultant’s Corner: Coronavirus Financial Relief for Small Businesses
Q: As a small business owner, what do I need to know right now regarding COVID-19 and financial relief for small businesses? Small business owners should be aware of the Federal government’s pending Coronavirus Aid, Relief and Economic Security (CARES) Act, the SBA Economic Injury Disaster Loan program, and the Families First Coronavirus Response Act…
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Consultant’s Corner: Tax Reporting Changes for Employers Engaging Independent Contractors
Q: Is it true that tax reporting is going to change for businesses that engage independent contractors? Under current tax law, businesses report cash and check payments for services rendered by non-corporate vendors, such as qualified independent contractors, on Form 1099-MISC, which is filed annually and, in the case of services, only when payments total…
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Consultant’s Corner: Considerations for Engaging Independent Contractors
Q: I’m thinking about engaging an independent contractor. What do I need to know before I start? It is important to understand that there is no worker classification known as a “1099 employee.” Workers are either classified as employees or independent contractors. Compensation for services rendered by workers classified as employees is reported on Form…
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