At Hettick Accounting we are committed to our small businesses and helping you to weather the COVID-19 storm. We are in a time of information overload, but we cannot emphasize enough how important it is for you to try and digest some of the programs now available. As the crisis continues to evolve, we will update you with the latest information we can to the best of our ability. Feel free to email us with any questions!

PROGRAMS:

• COVID-19 Economic Injury Disaster Loan
  • The SBA has launched their website for you to apply for the $10K Emergency Economic Injury Grant available to ALL small businesses (including sole proprietors). This is money that is available to YOU! Just apply online. This is grant money that does not need to be paid back! GO ONLINE AND APPLY NOW!
• CARES Act: Small Business Owners Guide to the CARES Act
  • The Coronavirus Aid, Relief and Economic Security Act (CARES Act) is a sweeping $2.2 trillion aid package and has numerous implications for small businesses including: an Employee Retention Credit, Payroll Tax Deferral, Paycheck Protection, and more.
  • The CARES Act Summary – by Forbes
• Paycheck Protection Program: PPP Information for Borrowers
  • This is a loan program administered by SBA, the goal being to help employers retain their employees and help to cover near-term operating expenses. Certain small businesses can qualify for a loan up to 2.5x the payroll cost to cover payroll, rent, utilities, health insurance, etc.
  • Paycheck Protection Program Application Form 2483
• IRS People First Initiative: Help for Taxpayers
• IRS: Coronavirus Tax Relief
  • For the latest developments at the federal level.
• WA State Response: Coronavirus Response
  • For the latest developments at the state level.

ADDITIONAL RESOURCES:

• Small Business COVID Update #6 – June 8th
• Small Business COVID Update #5 – April 28th
• Small Business COVID Update #4 – April 2nd
• Small Business COVID Update #3 – March 30th
• Small Business COVID Update #2 – March 22nd
• Small Business COVID Update #1 – March 18th

ADDITIONAL RESOURCES:

• Employee Rights to Paid Sick Leave and Family Medical Leave Under the Families First Coronavirus Response Act (must be posted at your place of business): FFCRA Required Poster
• Small Business Admin: Coronavirus SBA Guidance and Resources
• WA State Dept. of Revenue: Business Relief During COVID-19 Pandemic
• WA State Employment Security Dept.: COVID-19 ESD Information
• WA Governor Office: COVID-19 Resource List for Impacted WA Businesses
• WA Paid Family and Medical Leave: COVID-19 and PFML
• US Department of the Treasury: COVID-19 Assistance for Small Businesses