The most recent stimulus relief bill contains $284 billion for a second round of loans to small businesses under the government’s Paycheck Protection Program.
There is nothing more satisfying or more difficult than owning your own business. Starting and operating a small business is exciting, interesting and, arguably, a complete gamble. To increase your chances of success, be brave, work hard, and develop a relationship with a good lawyer.
You've got a cause you care about — now you just need the legal status that will help your organization raise money and work for that cause. Here are four steps to help you understand the process, but as always, call Wick Law for more details.
Right now, developing new ideas to supplement core products and services is one way businesses are continuing to operate and stay relevant. Post COVID-19, your small business may need to pivot and re-configure the day-to-day.
Many business owners choose to form their business as a Limited Liability Company (“LLC”) because of the protections afforded by this business structure. LLC members are able to protect themselves from certain debts and threats (lawsuits) that they would otherwise be exposed to. In other words, an owner/operator will not generally be held personally liable for the acts of the LLC.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help businesses keep workers employed during the pandemic and recovery. Most important to small businesses: •$10 billion has been set aside for emergency loans to help small businesses keep workers employed, including some that are forgivable; •$17 billion for loan subsidies through the SBA; •and $350 billion in loan guarantees.
Wick Law wants to provide small business owners with the latest COVID-19 related policies that could impact your business. See below for recent policy updates impacting your taxes, unemployment and workers’ compensation.