CSFAS, Inc.

Very important to note that yesterday's announcement from the SBA about Safe Harbor for PPP loans under $2M applies only to "need" not "usage". Proper usage of PPP loans is still of paramount importance. Keep records of everything related to your usage, decreased revenue and increased expense due to COVID-19. Do not confuse requirements between Need and Usage, and consult government web sites and documents for guidance. The latest changes can be found on the last few pages of this document.
https://lnkd.in/eNrTXhp

home.treasury.gov

Below is a useful and succinct article about the Payroll Protection Program which can be extremely beneficial assistance right now. We are hearing anecdotes that there may be some bumps in the road when applying, which is not surprising given the speed with which the program has rolled out. We suggest talking to your bank first to get their application and to follow their process. We are standing by to help when you are required to present records that you may not have readily available. The best way to reach us right now is to email your contact person directly.

Paycheck Protection Program (PPP): Loan Guidelines for Sole... Beginning Friday, April 10, 2020, banks are accepting Paycheck Protection Program (PPP) loan applications from sole proprietors and independent

The CARES Act was signed into law on March 27th, providing an unprecedented level of emergency assistance for individuals, families and businesses affected by the coronavirus epidemic. The legislation includes a new loan program – the Paycheck Protection Program administered through the SBA – that provides up to $349 billion in loans to eligible entities, with such loans being subject to forgiveness under certain circumstances. Click the link for more information.

www.rubio.senate.gov

CSFAS is staying updated on the current situation. So far, deadlines have not changed, but the situation is developing quickly. We are continuing to work as usual while taking all the necessary precautions. If you have any questions regarding how tax season may be impacted contact us through e-mail or facebook.

We wish that you and your families stay healthy and safe!

Coronavirus Tax Relief | Internal Revenue Service To explain the tax relief for those affected by coronavirus

Owner of Capital City Groundskeeping, Ryan Walsh started mowing lawns while he was still in high school back in 2000. The young entrepreneur says he started because he “wanted to work, make money, and enjoy the independence it brought”. At NCSU he majored in Turf and Grass Science and worked through college expanding his client portfolio. He graduated in 2013 and then the company, which he self-financed, really started growing. Ryan says that having “accurate financial records allows for good decision-making on equipment purchases, hiring, and expansion.”

To learn more about Ryan and Capital City Groundskeeping visit www.CapitalCityGroundskeeping.com.