Woman shutting down restaurant

May 19, 2022 On Tuesday, Senate Majority Leader Chuck Schumer scheduled a vote on S. 4008, the “Small Business COVID Relief Act of 2022,” adding $40 billion to the Restaurant Revitalization Fund and $8 billion for several small business groups in financial stress. Nearly fifty Democrats will vote for the bill but sixty votes are required, thus our lobbying is aimed at persuading fifteen or so Republican senators to support the measure. Under Senator Ben Cardin’s (D-MD) and Senator Roger Wicker’s (R-MS) bi-partisan bill, S. 4008, $40 billion will go to backfill the 2021 Restaurant Revitalization Fund for the approximately

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upset lady

The Employee Retention Credit (ERC) helped businesses stay open when the pandemic started. In 2020, the White House implemented the CARES Act. Since then, business owners have been taking advantage of this new legislation to keep the workforce in their jobs.  If you’re one of the business owners who have not collected this refund, keep reading to learn more. Thousands of business owners collected Payroll Protection Program Loans (PPP Loans) at the start of the pandemic.  This forgivable loan helped struggling businesses keep their employees on the payroll.  It was a necessary and very valuable loan, and many employers qualified to

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A photo of a start up business

Recovery Startup Businesses are eligible for the ERC for 3rd and 4th quarter 2021 The American Rescue Plan Act of 2021 passed by Congress in March of 2021 expanded the Employee Retention Credit by introducing a new eligible category of employer – The Recovery Startup Business. A Recovery Startup Business is defined as a business that started operating after February 20, 2020 and has “average annualized receipts” of less than $1,000,000. Recovery Startup Businesses are automatically eligible for the Employee Retention Credit in the third and fourth quarters of 2021. The American Rescue Plan Act did scrap the Employee Retention

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Tax breaks for businesses

Were you required to limit your business due to Covid-19? If your business was affected during 2020 or 2021, you may be entitled to apply for the Employee Retention Tax Credit. This is a large refundable tax credit provided by the federal government to give relief to fully or partially locked down businesses that kept employees on the payroll.   There are eligibility rules limiting the number of businesses that can participate in these programs, including if your business was forced to close, fully or partially, by order of a government mandate. Did the state or local government mandate businesses

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