CVOID-19 Relief

“ASSISTING OUR COMMUNITY”

Divisions of Government Assistance

Types of Loan – EIDL Loan SBA/ Private Loans

SBA Paycheck Protection Program( PPP)

SBA Economic Injury Disaster Loan (EIDL)

Terms: 2 years

Terms: 30 Years

Loan Forgiveness

Traditional Payroll Loan

Loan Deferment up 6-12 months

Private Party Loan Terms: 5-15 Years

High Interest Short term Loan

Types of Loan – PPP Loan SBA/ Private Loans

SBA Paycheck Protection Program( PPP)

SBA Economic Injury Disaster Loan (EIDL)

Terms: 2 years

Terms: 30 Years

Loan Forgiveness

Traditional Payroll Loan

Loan Deferment up 6-12 months

Private Party Loan Terms: 5-15 Years

High Interest Short term Loan

SBA Paycheck Protection Program (PPP) • No Personal Guarantee required • No collateral Required • Intertest rate 1% • 6 months Payment Deferral • 24 months loan • Has Loan forgiveness features • Payroll loan is 2.5 X of monthly payroll Max limit capped 100K per employee

If you have an employee who is sick with COVID-19, and you pay them sick-leave, you can get a FICA tax credit (employer-share only) equal to the lesser of wages plus health care costs or $511 per day for up to 10 days.

Tax Credit to Fund Paid Sick Leave If you give sick leave to an employee who has a sick family member, the credit is $200 per day, up to a maximum of $10,000.

Employee Retention Credit • If a government order requires you to partially or fully suspend operations, or if your gross receipts have declined by certain thresholds, you can receive a payroll tax credit equal to 50% of employee compensation up to $10,000 (per employee) paid between March 12, 2020 and January 1, 2021.

OTHER LOAN ASSISTANCE PROGRAM

PERFECT CAPITAL “ASSISTING OUR COMMUNITY”

American Workers, Families and Business Assistance Program Other Economic Stabilization Assistance

Unemployment Insurance Provision

Rebates and Personal Provision

Business Provision

Unemployment Insurance Provision Funding assistance for health emergency Additional payment on top of unemployment benefits Compensation to hire temp staff or rehire former staff Additional 13 weeks compensation beyond terms of regular unemployment • The bill requires all private insurance plans to cover COVID-19 treatments and vaccine and makes all coronavirus tests free.

• • • •

Business Provision Delay employer payroll taxes Exception of exercise tax of certain consumption products Modification for net operating losses Modification of credit for prior year minimum tax liability of corporations • Modification and limitation on business interest • • • •

UNEMPLOYMENT BENEFITS

Payroll restructuring and options for Corona Virus impacted Employer

Current environment of Economy • Entire Economy is in challenging mode.

• Retail, Restaurants, Entertainment Office are hardest hit sector • Very few essential services are growing like grocery, home entertainment, digital media

Employer options • Layoff Employees

• Furlough Employees • Shared Work Program

Unemployment benefits • Texas department has $521 per week unemployment max limit. This is prorated based on income for last 12 months.

• Shared work program will be reduced by 40% if total productivity hours are reduced to 40%

• Federal assistance if $600 per week, for Layoff, Furlough or shared work program.

Perfect Capital For more Information:

Address: 6850 TPC DR, Suite 108 McKinney, TX 75070 • Phone: 469-213-1519 • salesteam@perfecttax.com • www.perfecttax.com