American lawmakers have passed the Paycheck Protection Program and Health Care Enhancement Act, a program that will offer small business loans to employers in need of aid as a result of the COVID-19 pandemic.
The bill is a $484 billion dollar package, of which $310 billion is earmarked for the Paycheck Protection Program (PPP).1,2
For my friends who run a small business, this is welcome news. In the wake of the pandemic, millions of small business owners have been forced to make gut-wrenching decisions regarding their operations. The PPP funds will serve to keep some smaller businesses operational and their workers paid during this uncertain time.
While there has been some criticism of the program, including reports that some funds were taken by companies that didn’t qualify as small businesses, employers can take some comfort in the knowledge that the program seems to be continuing, even as the country finds its way through this crisis.
If you’re a small business owner, you may be wondering how to take advantage of the PPP. If you previously applied to the program without success, I would encourage you to apply again. It’s possible that some of the issues that prevented money from getting to small businesses may be resolved in this latest round of funding.
Remember, if there’s anything I can do to help guide you through the process, or through this uncertain time, please don’t hesitate to reach out.
When you lose a spouse, partner, or parent, the grief can be overwhelming. In the midst of that grief, life goes on. There are arrangements to be made, things to be taken care of – and in recognition of this reality, here is a checklist that you may find useful at such a time. If … Continue reading “Estate Planning Checklist for When a Spouse or Parent Passes”
The first week of 2021 has already had many ups and downs. Just because it’s a new year doesn’t mean that the 2020 issues go away, and so far, 2021 has been no exception to this rule. The markets opened on January 4 and traded lower out of the gate, with the S&P 500 dropping … Continue reading “2021 Opens With a Bang”
A new year offers a welcomed turn of the calendar and a fresh start. However, it’s difficult to put 2020 completely behind us just yet because the COVID-19 pandemic still presents a significant threat. Healthcare workers continue to perform heroically, while the rest of us must continue to make sacrifices until vaccines are widely distributed. … Continue reading “Market Update: 2021 Brings a Fresh Start”
After a bit of political posturing on stimulus details in December, the $900 billion Consolidated Appropriations Act of 2021 (2021 CAA) was signed into law by President Trump as the COVID-19 pandemic continues to impact employers and employees. Here’s a quick recap of five key highlights providing stimulus to those that need it:
Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. From current and previous IRA contribution deadlines, to RMD deadlines, keep an eye on the calendar. April 15, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts. Keep in … Continue reading “IRA Contribution Deadlines are Approaching”
Epic Capital provides the following comprehensive financial planning and investment management services: Learn More >