The knowledge you need

The Coronavirus (COVID-19) emergency has impacted both individuals and businesses. The stay at home and forced business closures have sharply reduced demand for several products and services leaving businesses with no means to generate revenue

The comprehensive nature of the Act has left many confused and wondering how their situation will be impacted. Specifically, many Atlanta nonprofits have been seeking clarification on which programs and incentives apply to them.

To help Congress initiated the Paycheck Protection Program (PPP) a forgivable loan available to businesses to support employee compensation and payroll expenses. The quick rollout of the program has created some issues and confusion leaving many Atlanta business owners with important questions. Although Treasury has issued interim final guidance, there are still questions about loan and employee calculations and the need for application resubmission.

In the construction industry where finding skilled labor has been a persistent issue for years, it appears the disruptions are also taking a toll. According to the Associated General Contractors (ACG) Coronavirus Survey Results, construction employment has reduced by 29,000.

The challenges faced during the COVID-19 emergency are far-reaching and have impacted virtually every business. Not only have stay at home and business closures drastically impacted revenue, but the expansion of employee paid leave and emergency benefits have added another dimension to the problem.

The recently enacted Coronavirus Aid, Relief and Economic Security (CARES) Act, opens the door to tax saving, retirement plan, and business financing opportunities for Atlanta businesses.

President Trump recently signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, (the Act) that created $2T in relief including tax modifications and updates, new rules for benefit plans and new financing opportunities.

The Coronavirus Aid, Relief and Economic Security (CARES) Act,(the Act) offers comprehensive relief to Atlanta businesses and individuals during this unprecedented emergency. It comes on the heels of the Families First Coronavirus Response Act, which solidified new and existing paid sick leave policies and created tax credits for impacted companies.

On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a comprehensive economic stimulus bill that provides almost $2 trillion in assistance to businesses, individuals and organizations.

When a Georgia employer reduces employee hours because of a COVID-19 issue, they are required to file a partial unemployment claim with the Georgia Department of Labor (GDOL).