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What every small business needs to know and how to start preparing

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by COVID-19. We have summarized the top provisions in the new legislation below, with more detailed alerts on individual provisions to follow.

Like so many of our clients, the majority of the SBF team is working from home following the precautions set forth by the CDC.

Across the world, many have felt the anxiety and fear that has spread over the uncertainly with this virus, but we cannot lay down forever. We are about to see the best of America and the rest of the world…

The Families First Coronavirus Response Act (FFCRA) was signed into law on Wednesday March 18, 2020. The new law includes paid sick leave for employees impacted by COVID-19 and those serving as caregivers for individuals with COVID-19. The legal obligations will be effective 15 days from the date it was signed – so plan for it to take effective on April 2.

The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

The information below is up to date as of the afternoon of March 18, 2020. We anticipate future announcements and guidance from the Federal government and the IRS. We will send out future correspondence with any updates as they become available.

Like all of you, we are monitoring the latest news about the coronavirus and adjusting our daily activities to reduce the possibility of spreading COVID-19. With confirmed cases in the west-central Florida areas we serve, we are being especially cautious.

Since Spoor Bunch Franz joined the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting and service firms, the firm has seen immediate results with how the Alliance can help us in our client work.

What you need to know about changes to retirement and 529 plans.