Nesteggg Accounting

  • Home
  • Services
    • Nesteggg Accounting
      • Payroll Services
      • Cannabis Accounting
    • Egggsact Tax, Inc.
    • Forms
      • Free Accounting Analysis
      • Business Services Agreement
      • New Corporation/LLC Request
      • New Account Setup
  • Contact Us

Small Business Affected By Coronavirus

Small business owners are used to everyday stress.  What it takes to run a business is, in part, a high tolerance for uncertainty and stress.  But this is altogether different, and as much one would like some certainty in this time of incredible uncertainty, we may not get it. 

If your business has been affected there may be help

What help you can reasonably expect:

Personal income tax filings have been postponed until July 15th, 2020.  That means that you don’t have to do anything right now if you cannot file before April 15th – the extension is for everyone. 

Business taxes, however, were due prior to the major effects of the coronavirus shut down.  So, your business should have filed or requested an extension by March 16th.  If you didn’t then now is the time to file to avoid ever increasing fines and penalties for not filing.

What the stimulus package may offer small business:

You may be able to defer your payroll tax payments until 2021 if you are continuing to pay workers throughout the shutdown. 

If you have had to lay off employees they may be able to get unemployment benefits extended until you can get up and running again.

Alternatively, businesses may apply for a loan in order to cover payroll.  But it appears as if the option of both taking a loan and deferring payroll tax payments will not be available.

Also, if you already have a Small Business Administration loan your interest may be deferred at this time, loosing up a little of your cash flow.

Local:

Many counties and municipalities have put in place cease eviction orders for residential and commercial renters if they cannot pay due to the effects of the coronavirus.  Look into your city or county’s policy to find out if you qualify.

Recent Posts

  • Economy Opening… Stop… Start…
  • Road Map to Opening
  • Tried Calling?
  • Free Credit Reports
  • CA License Extensions for Cannabis Business
  • What Are Libraries Doing Now
  • Cannabis Markup to Remain the 80%
  • Time to Retire?

Archives

  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018

Categories

  • Cannabis Compliant Accounting + Tax
  • NestEggg's Small Business HELP
  • News
  • Uncategorized

Stay Connected

Nesteggg Facebook

The Nesteggg Group ©2019
All Rights Reserved

Get in Touch

1127 St. Paul Ave
Tacoma WA 98421

1-(888) 987-NEST

accounting@nesteggg.com

Web Design & Maintenance by AquaZebra

constant contact

Copyright © 2023 · Executive Pro Theme on Genesis Framework · WordPress · Log in