MC Chamber - February 2021

CHAMBER newsletter February 2021

Inside: Important Announcement and MI COVID Recovery Plan

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

PLATINUM MEMBERS

2021 Executive

2021 Board

Board of

of Directors

Directors Danette Doyle President The Pioneer Group Josh Eling Treasurer Isabella Bank Jeff Godfrey Secretary Spectrum Health

GOLD MEMBERS

Connie Koepke Mecosta County Area Convention & Visitors Bureau

SILVER MEMBERS

Jim Sandy Mecosta County Development Corporation Pat Currie

LEADING BUSINESSES, LEADING COMMUNITIES For information on becoming a member of the Mecosta County Area Chamber of Commerce, please contact us.

SOCIAL NETWORKING

Currie's BP Amoco Heather Bowman Member At Large City of Big Rapids Josh Pyles Member At Large Downtown Business Association

facebook.com/mcacc

Stay connected by reading the Chamber’s blog! My Chamber Connect is updated frequently with helpful articles, information about the county, video tutorials and commentary!

Mecosta County Area Chamber of Commerce 127 South State Street, Big Rapids Big Rapids, MI 49307 (231) 796-7649 • Fax: (231) 796-1625 mecostacounty.com

twitter.com/mcacc2017

STAFF

Allison Heinrich

Events Coordinator & Administrative Assistant events@mecostacounty.com

instagram.com/mecostacountychamber

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

Letter from the President The Mecosta County Chamber will begin a short hiatus beginning February 1, 2021. As many of you know, the Chamber has been without an Executive Director for over a year and our financial situation has made it imperative to downsize. During this hiatus, the Chamber will work diligently on future plans.

We would welcome hearing from any community member(s) that may be interested in donating their time to act as Director or to join the Chamber Board to help with reorganizing the Chamber. Please contact Danette Doyle at ddoyle@pioneergroup.com if you are interested in making this commitment.

While the Chamber is on hiatus, the partnership we have with the Small Business Association of Michigan is still in force. Please feel free to reach out to Sherry Bryan, sherry.bryan@sbam.org if you need assistance.

Thank you for your patience as we maneuver through this time. We will come out of this hiatus stronger, and look forward to providing a valuable member experience to you.

Danette Doyle, President Mecosta County Chamber Board of Directors

Happy Valentine's Day!

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

THE CHAMBER OFFICE IS CURRENTLY CLOSED. WHILE THE CHAMBER TAKES A TEMPORARY BREAK, PLEASE REACH OUT TO BOARD PRESIDENT DANETTE DOYLE AT DDOYLE@PIONEERGROUP.COM FOR ANY PRESSING MATTERS

Special Thank You to all of our Ambassador Club Volunteers!

February 2021

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

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Leadership Mecosta is a dynamic 9 month program for people who wish to connect with other leaders in the Mecosta County community. Members have the opportunity to learn leadership skills and principles, grow in serving the community, and lead into the future of Mecosta County. For more information on the 2020-2021 class, please visit www.leadershipmecosta.com

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

QUICK ACTION REQUIRED –

NEW STIMULUS FOR SMALL BUSINESS

By Leon LaBrecque, JD, CPA, CFP®, CFA Chief Growth Officer, Sequoia Financial SBAM.org The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and provisions for some hard-hit areas aimed at mitigating the continuing economic impact of the Covid-19 pandemic.

Small businesses saw more stimulus in a second round of the Paycheck Protection Program (PPP), which we’ll call PPP2. PPP2 is potentially very helpful, but be quick, the deadline for applications is March 31, 2021.

President-elect Biden is already talking about the next stimulus package, but let’s take a quick look at PPP2 and another facet, a ‘Stealth Stimulus,’ the Employee Retention Credit (ERC).

The new law allows businesses to leverage both the PPP2 and the ERC, offering double benefit. The ERC was significantly increased as well. Here are some highlights:

Maximum Loan Amount For most businesses, the maximum loan is 2.5 times the average monthly payroll costs in the 12-months prior to the loan or calendar year 2019 with a cap of $2,000,000. Business in the hospitality/restaurant industry (NAICS code starting with 72) get a multiple of 3.5.

Forgivable Costs • •

•

•

PPP2: Who is eligible?

•

• • • •

• • • • •

Businesses, sole proprietors, self-employed individuals and non-profits (including churches) in operation on February 15, 2020 PPP1 Recipients: 300 or fewer employees Have or will use full amount of PPP1 loan before the disbursement of the PPP2 loan 25% reduction in gross receipts in any 2020 quarter compared to same quarter in 2019 (calendar year can be used if the business saw a 25% annual reduction, if one quarter does not qualify) First-Time Borrowers (did not receive a PPP1 loan) 500 or fewer employees In operation since February 15, 2020 Eligible for other SBA 7(a) loans Did not receive a Shuttered Venue Operator Grant

• •

Expanded definition of “Forgivable Costs” applies to PPP1 and PPP2 loans Payroll, rent, covered secured loan interest, utilities, operating costs (including software, cloud computing and accounting services) Covered operations expenditures (i.e. software and cloud computing services used for the business) Property damage, vandalism and looting costs due to public disturbances that occurred during 2020 that are not covered by insurance Essential supplier expenditures, and, Investments in facility modifications and PPE to comply with Covid-19 federal health and safety guidelines

Maximum Forgiveness: As with PPP1, full forgiveness will require the 60/40 allocation between payroll and nonpayroll costs. Maximum forgiveness is the lesser of loan amount or covered payroll cost divided by 60%.

EIDL Advance: EIDL Advances no longer reduce the forgiveness amount and expenses paid with EIDL Advance dollars are deductible. Furthermore, borrowers will be made whole if EIDL Grant amounts were deducted from their PPP1 forgiveness amount.

EIDL Loans: Borrowers may receive an EIDL and PPP2 loans; however, the EIDL funds may not be used for forgiven expenses.

Covered Period: Employer can select a Covered Period that ends between 8 and 24 weeks after the date the loan funds were disbursed (“Loan Origination Date”).

Payroll Expenditure Requirement: At least 60% of loan proceeds must be spent on payroll costs (e.g. cash wages and employer’s portion of health insurance, unemployment insurance and retirement).

Loan Application Period: PPP2 loan application period ends March 31, 2021.

Interest Rate: 1% Non-compounding.

Loan Term: 5 years deferment of payments)

(6-month

Loan Fees: None Prepayment Penalties: None Personal Guarantee: None Tax Treatment: Expenses paid with PPP1 or PPP2 funds are deductible.

Simplified Loan Forgiveness: Application simplified, one-page loan forgiveness application for loans under $150,000.

Employee Retention Credit (ERC) Size of credit: Maximum credit is 70% of up to $10,000 of “Qualifying Wages” paid per employee per calendar quarter through June 30, 2021. (Maximum 2021 credit is $14,000 per employee.)

Qualifying Wages:For employers with 500 or fewer employees, credit can be taken for wages paid to employees who are performing work. Larger employers may only receive the credit for wages paid to employees who are not working (performing services). Qualifying wages includes the employer’s portion of group health premiums that are not taxable to the employee and are allocated to an employee (e.g. employer-paid health insurance, FSA, HSA, etc.) Payroll paid with PPP funds don’t qualify as “qualifying wages” (no double-dipping).

Pay Raises: The ActRepealed the disallowance of the credit for pay

increases. now allowing the credit for hazardous duty pay increases and other increases.

Qualifying Employers: Gross receipts must have declined at least 20% from the same quarter in 2019. Employers who were not in business in 2019 qualify if revenue for current calendar quarter declined 20% or more as compared to same quarter in 2020.

Alternate Gross Receipt Test: For 2021, employers can elect to look at the immediately preceding calendar quarter and compare that quarter to the corresponding quarter in 2019.

For example, an employer who fails the gross receipt test in Q1 of 2021 could still qualify in Q1 by electing to compare gross receipts in Q4 of 2020 to Q4 of 2019. If gross revenue declined by more than 20% quarter-over-quarter, Q1 of 2021 will be an eligible quarter.

Limit on advanced refunds: • •

Refund amount cannot exceed 70% of average quarterly wages paid in 2019.

Employer must have 500 or fewer employees

PPP1 and PPP2: Under the modified rule, employers can claim the employee retention credit on any eligible wages not used to support PPP loan forgiveness and any wages that could count toward both provisions can be applied to either, but not both, at the election of the employer.

Bottom Line: CAA offered significantly increased stimulus, for individuals, but perhaps more critically, for small businesses. Under CARES, you could get a PPP1, but then offset that with an EIDL and the ERC. Now there is a PPP2, deductibility of PPP expenses, you can have an EIDL under PPP2 and you can have a ERC and a PPP. Lots to get, and a short time to get it.

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

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We're looking to add new members to the Board of Directors & the Chamber Ambassador Club!

Interested?

Email us! ddoyle@pioneergroup.com

Your Lakefront expert!

8520 100th Ave. Canadian Lakes, MI 49346

KATHY ADAMS

www.canadianlakeshomes.com

kadamscblakes@gmail.com

231.972.8300

231• 250 • 3197

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

Experience a different type of flight

Explore Michigan's best breweries at MiBrewTrail.com

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

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Sources: SCORE/SBA; Fundera

Visit ThePioneerDirectory.com to see what's open and support our community!

Know a business that would like a free listing on ThePioneerDirectory.com?

Find out how at BigRapidsNews.com/listOFB

“Helping Buyers & Sellers for over 50 years”

SILVERNAIL REALTY

Call Today!

231-796-6329

Sue Glatz

www.silvernailrealty.com Sue Glatz, GRI, CRB, ABR, Broker/Owner

Salespersons: Terry Weaver, Katy VanCuren

Property Management • Land Contracts

Katy VanCuren

We sell all types of real estate and offer property management.

We work for buyers AND sellers!

17810 205th Ave., Suite #1, Big Rapids, MI 49307

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

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HOW TO SET SMART GOALS

By Linda Olejniczak, courtesy of SBAM Approved Partner ASE SMAG.org Ready to join those elite 8% of people who successfully hit their goals? Where do you want to see your department at the end of 2021? Writing your goals does not have to be difficult. Base them on intention. If circumstances change, simply modify your goals.

Having a set of SMART goals follows a methodology that outlines specific actionable steps to make goals more achievable.

S – Specific: Be clear in exactly what you want to accomplish and how.

M – Measurable: Think about how you will be able to track progress toward the goal.

A – Achievable: Be honest with yourself and set a goal that is challenging yet doable.

R – Relevant: Ensure this goal aligns with your broader, long-term goals.

T – Time-Bound: Pick a date you plan to achieve your goal by.

Make it Actionable. Anyone should be able to read your goal and understand

exactly what you will be doing.

achieve the goal.

Assign an Accountable Owner. Many people may contribute work to your goal, but there should only be one owner—one person who is ultimately accountable for the priority’s success.

Connect to Why. Understanding how this goal fits into the big picture is important and will help you stay motivated.

Establish Timing. When setting priorities always include a start and end date and be realistic about what you can accomplish in each timeframe.

Clearly Define Success. Determine clear success criteria for your priority so you know what it looks like to

Break it Down Action steps will help you with time management and allow you to carve out the time and effort needed to achieve your goal.

These tips can help you become part of the 8%: Keep it visible. This helps you remain accountable to your stated goal.

Status it weekly. How are you doing based on the success criteria you set out for yourself?

Review often. If you can see that you aren’t on track what else can you do to move forward? Do you need to enlist some help?

Be ready to pivot. As 2020 proved, our goals may change. Chances are, they will … and you will be ready for them! Just be prepared to learn from what did not work and move on to a new goal.

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

MICHIGAN COVID RECOVERY PLAN SMAG.org Today, Governor Gretchen Whitmer announced the Michigan COVID Recovery Plan to grow Michigan’s economy and help end the COVID-19 pandemic. The governor’s plan includes a strong focus on vaccine distribution, economic recovery, schools, and more. Portions related to small business are below.

SUPPORT FOR SMALL BUSINESS: As part of the governor’s MI COVID Recovery Plan, the governor’s plan provides $225 million for three new programs from the MEDC: The Michigan Mainstreet Initiative will help stabilize our small business community by securing grants for restaurants and other place-based businesses to keep our Main Streets vibrant and our communities resilient.

The Michigan Microenterprise Support Initiative will help us put small businesses with less than nine employees on the path to recovery by creating greater access to much needed support.

And the Business Accelerator and Resiliency Initiative will provide grants to high-tech startups that can help our communities thrive.

“Small businesses are critical to the recovery of our communities,” said Small Business Association of Michigan President Brian Calley. “As we approach upcoming reopenings, the Main Street Initiative will target much needed support for some of the hardest hit local businesses.”

“This plan addresses some of the major issues that must be overcome to win Michigan’s COVID-19 recovery: mitigating learning loss, rebuilding small businesses, attracting new jobs and upskilling our workforce. We’re encouraged by the proposed one-time investments for each of these priorities, and look forward to working with the Governor and our state’s leaders to recover and get back on the path to becoming a Top Ten state,” said Jeff Donofrio, President & CEO of Business Leaders for Michigan.

GOVERNOR WHITMER'S MI COVID RECOVERY PLAN GOVERNOR GRETCHEN WHITMER’S MICHIGAN COVID RECOVERY PLAN IS FOCUSED ON GROWING MICHIGAN’S ECONOMY AND HELPING TO END THE COVID-19 PANDEMIC. THE GOVERNOR’S PLAN INCLUDES A STRONG FOCUS ON VACCINE DISTRIBUTION, ECONOMIC RECOVERY, SCHOOLS, AND MORE.

PUBLIC HEALTH VACCINE DISTRIBUTION: Michigan is ready to ramp up vaccination distribution, which will help us get back to normal as quickly as possible. Last month, Congress appropriated $90 million in additional resources for vaccine distribution in Michigan through the Coronavirus Response and Relief Supplemental Appropriations Act. The governor’s plan will use this federal funding to ramp up vaccine distribution in Michigan and bring us closer to our goal of 50,000 shots in arms per day. This funding will help provide financial support to local health departments for vaccine administration costs, including staff augmentation, as well as provide equipment and supplies.

Michigan will also receive $575 million to expand COVID testing, tracing, and lab capacity in Michigan.

JOBS + ECONOMY SUPPORT FOR SMALL BUSINESS: As part of the governor’s MI COVID Recovery Plan, the governor’s plan provides $225 million for three new programs from the MEDC: The Michigan Mainstreet Initiative will help stabilize our small business community by securing grants for restaurants and other place-based businesses to keep our Main Streets vibrant and our communities resilient.

The Michigan Microenterprise Support Initiative will help us put small businesses with less than nine employees on the path to recovery by creating greater access to much needed support.

The Business Accelerator and Resiliency Initiative will provide grants to high-tech startups that can help our communities thrive.

GOOD JOBS FOR MICHIGAN: Governor Whitmer called on the Michigan Legislature to pass Good Jobs for Michigan to help Michigan retain and grow our businesses and create jobs. Pfizer was the first business to utilize Good Jobs for Michigan, and did so to build their sterile drug manufacturing plant and create 450 good-paying jobs in Portage - the same Portage plant that the first doses of the safe and effective COVID vaccine shipped from at the end of last year. It’s time for the legislature to pass this bill and send it to the governor’s desk.

UNEMPLOYMENT BENEFITS: The governor’s MI COVID Recovery Plan includes a call on the Michigan Legislature to permanently extend unemployment benefits from 20 weeks to 26 weeks. This would bring Michigan in line with 40 other states and provide hard-hit Michigan workers with the financial security and peace of mind they need and deserve.

FOOD ASSISTANCE: As of fiscal year 2019, one in eight Michigan residents received food assistance. Governor Whitmer’s Michigan COVID Recovery Plan will provide more support for families through food assistance so more Michiganders can afford to put food on the table for themselves and their families.

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

February 2021

GOVERNOR WHITMER'S MI COVID RECOVERY PLAN JOBS + ECONOMY CONT. RENTAL ASSISTANCE: The federal Emergency Rental Assistance Program, established in the Consolidated Appropriations Act, 2201, will provide the State of Michigan with funding to assist households that are unable to pay rent and utilities due to the COVID-19 pandemic. The governor’s plan will allocate this federal funding to help more Michiganders stay in their homes.

OFFICE OF RURAL DEVELOPMENT: The governor will create an Office of Rural Development tasked with coordinating work across state government to address issues facing rural communities—including broadband, talent, infrastructure, and more. The MI COVID Relief Plan will also include grants to provide infrastructure and capacity support in rural communities and support for land-based industries.

PROPERTY TAX ASSISTANCE: The governor’s plan includes funding to waive penalties and interest for certain property owners who did not pay their summer 2020 property taxes on time as a result of economic hardship created by the COVID-19 pandemic.

TALENT: The governor’s plan will provide targeted employment and training services through the Department of Labor and Economic Opportunity to connect unemployed and underemployed Michigan residents with training and resources necessary for gainful employment. The program will prioritize residents from underserved or economically distressed communities to provide them with the skills needed for entry into registered apprenticeships in the energy sector to help drive Michigan’s energy transition.

RECONNECT/FUTURES FOR FRONTLINERS WRAPAROUD SUPPORTS: The governor’s plan includes a pilot providing wrap-around supports for up to 400 single parents who participate in the Michigan Reconnect and Futures for Frontliners programs. Participants will receive on-campus childcare, intensive personalized advisement, educational supports including tutoring, career counseling and assistance in transitioning to a 4-year school.

PUBLIC EDUCATION SCHOOLS: As part of the recent actions from the federal government, Michigan was allocated nearly $1.7 billion through the Elementary and Secondary School Emergency Relief Fund (ESSER Fund). The governor’s MI COVID Recovery Plan will allocate this federal funding, along with an additional $300M in state dollars, to help schools meet the Governor’s goal of providing every student with an in-person learning opportunity by March 1, and to help address the learning loss that has occurred due to the pandemic. These one-time, flexible dollars will be distributed through a formula that recognizes the additional costs associated with supporting students in poverty and students with special education needs.

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

38th Annual Tax Letter Our newsletter contains key aspects of the recently enacted Consolidated Appropriations Act of 2021 (CAA) along with the continuing relevant provisions of the Federal CARES and SECURE Acts, as well as the MI COVID-19 Relief Bill.

INDIVIDUAL PROVISIONS Individual Stimulus Checks (direct deposit) After months of haggling over amounts, Congress agreed to the payment of $600 per person in your household (single filers = $600; married with two dependent children = $2,400). Direct deposits began December 30! Income thresholds remain the same as the first stimulus rules: Single with adjusted gross income (AGI) • Under $75,000 full credit • Over $99,000, nothing Married with adjusted gross income (AGI) • Under $150,000 full credit • Over $198,000, nada Income between these dollar thresholds will receive proportional amounts Unlike the first round of stimulus where the IRS used 2018 incomes if you had not yet filed 2019 return, this round will rely on 2019 information only.

Can I Get More Stimulus Money?

In the Spring and Summer of 2020, the IRS mailed out over 140 million stimulus payments under the CARES Act. And, in December, Congress passed the Coronavirus Relief Bill that enables taxpayers to receive a second round of stimulus money. In a rush to get stimulus payments out, Uncle Sam used the information from your 2018 or 2019 tax returns. You may be eligible for more stimulus money than you initially received, if any of the following apply to you in the 2020 tax year: Your adjusted gross income fell below $99,000/single & $198,000/married filing joint You had or adopted a child You were claimed as a dependent in 2019 or 2018, but not in 2020 You did not make enough money to file a return in 2018 and

2019 and you did not report your income on the IRS Non-Filers website (hey college students and low-income taxpayers, this might be you) When we file your 2020 tax return, we will be asking you to report the total stimulus payment that you received in 2020 and 2021. If you are entitled to more stimulus due to one of the items above, the additional payment will be reported as a credit on your 2020 tax return. If you already received a stimulus payment and your 2020 income would disqualify you from receiving some or all of the stimulus, you get to keep the payment anyway. The IRS will not be asking for it back!

How about a third stimulus check?….Entirely possible given the comments made by Democratic leaders, Biden, Pelosi and Schumer.

Charity The CARES Act created a new “above the line” charitable deduction of $300 for 2020 for those who don’t itemize The CAA doubled this amount to $600 for married couples in 2021 Note: The deduction is available to everyone this year (2020) so please provide us with your charitable deduction even if you no longer itemize (see tax questionnaire)

RMDs (Required Minimum Distributions) The SECURE act raised the age at which our RMDs must start from 70 1/2 to 72. QCDs (qualified charitable distribution) are still allowable by making your IRA distributions directly to charitable organizations – limit of $100,000/year

BUSINESS PROVISIONS MI Relief Provisions A $63.5 million fund has been created for small businesses currently shutdown due to COVID 19 restrictions. To qualify: 100 or fewer employees Must not exceed $20,000 for a business that has been closed or $15,000 for a business that has been partially closed as a result of the gatherings and face mask order.

Must be used only for working capital to support payroll expenses, rent, mortgage payments, utilities, and costs related to reopening a business

Grant applications shall be accepted, reviewed and approved by a local nonprofit economic development organization that previously participated in the Michigan small business relief program. Organizations are currently accepting applications for grants.

SBA Changes EIDL emergency grant monies are tax free SBA payments made on borrowers behalf are tax free (also see below) The administration of the SBA shall make an additional six months of tax free payments in 2021 for covered loans

hscompanies.com

more on reverse...

February 2021

February 2021

Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

Payroll Protection Program (PPP)

Employee Retention Tax Credit (ERTC) 1/1/21 - 6/30/21

The CAA made lots of changes to this program so hold on to your hat!

Congress got the last word with the IRS on taxability: • Loan forgiveness is tax free!

• Expenditures used for loan forgiveness are fully deductible New simplified procedures for automatic loan forgiveness for loans under $150,000 EIDL emergency advances no longer reduce PPP forgiveness amount. Adjustments to be made for those already having received forgiveness ERTC and the PPP are retroactively no longer mutually exclusive • •

Businesses receiving PPP loans in 2020 may be eligible to claim ERTC credits as long as they qualify for both and expenditures are not “double dipped” Business claiming the ERTC credits in 2020 may be eligible for PPP 2 loans under either old or new rules

Payroll Protection Program Part 2 (PPP2) Businesses having already received a PPP loan may reapply for another loan (PPP 2) under the following conditions: The business had at least a 25% reduction in gross receipts in any calendar quarter in 2020 compared to the same quarter in 2019 Cannot employ more than 300 employees (for those with multiple locations - no more than 300 employees per physical location) Same calculation of amount (2 1/2 times average monthly 2019 payroll costs) EXCEPT for those in the Accommodation and Food Services industry which will get 3 1/2 times average 2019 payroll costs!

Additional eligible expenses Same 60/40 cost allocation between payroll/non payroll costs 501c6 (Chambers of Commerce and other non-profit business reporting organizations) that don’t receive more than 15% of receipts from lobbying are now eligible

Eat, Drink, and be Merry Domestic beer producers received a permanent excise tax reduction to $3.50 per barrel on the 1st 60,000 barrels produced and $16.00 per barrel on those producing fewer than 2 million barrels annually Businesses can go back to deducting 100% of their qualified business meals and beverages for 2021 and 2022 (As opposed to 50% in 2020 and prior years). Certainly time to support your local food and beverage establishments with your business meetings!

As mentioned earlier those receiving PPP loans are no longer disqualified from receiving ERTC credits (no double dipping on eligible expenses, however) Expands business qualifying from 100 employee threshold to 500 or fewer. Even certain government instrumentalities will now qualify Credit increased from 50% to 70% of qualified wages Qualified wages increased from $10,000 per year to $10,000 per quarter Gross receipts eligibility threshold is reduced from a 50% decline quarter to quarter (2021 compared to 2019) to 20% Special Q1 2021 qualification rule, two options: • Compare gross receipts Q4 2020 to Q4 2019, if at least a 20% decline then ERTC eligible for Q1 2021 or • Compare gross receipts Q1 2021 to Q1 2019, if at least a 20% decline then ERTC eligible PPP, PPP2, ERTC, oh my! But what is best for my business? Every industry and business is unique, of course. We encourage you to seek us (your H&S professional) out for help in planning and filing the best program(s) for your unique situation. We are here for you and want to help you receive all that is available for the success of your business.

Important Facts & Figures

2020

2021

Mileage Rate

57.5 cents/mile

56 cents/mile

Federal Minimum Wage

$7.25

$7.25

Michigan Minimum Wage Tipped Employees Social Security Wage Base Earning Limit for SS Recipients Under Age 66 Tax Free Gift Per Person

$9.65

$9.65

$3.67

$3.67

$137,700

$142,800

$18,240

$18,960

$15,000

$15,000

Tax Free Estate: Individual

$11,580,000

$11,700,000

Married

$23,160,000

$23,400,000

IRA: Under 50

$6,000

$6,000

50 or Older

$7,000

$7,000

SIMPLE: Under 50

$13,500

$13,500

50 or Older

$16,500

$16,500

401K: Under 50

$19,500

$19,500

50 or Older

$26,000

$26,000

HSA Individual: Under 55

$3,550

$3,600

55 or Older

$4,550

$4,600

HSA Family: Under 55

$7,100

$7,200

55 or Older

$8,100

$8,200

Follow us for more news and updates throughout the year! /HSCompanies

hscompanies.com

/company/468406

@HSCompanies

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ut It! o b A l l A d a Re ber r fellow Cham

h you Share it wit to us as Got news? y sending it b y it n u m m uld d your co photos sho & s members an le ic rt A of each attachment. n the 10th an MS Word a th r te la d no month’s be submitte luded in the following e inc s to: info@ month to b es and photo cl ti ar d n se e 96-7649. issue. Pleas m or give us a call (231) 7 icles ty.co straints, art n mecostacoun co e m ti due to ion.

Unfortunately, ct to omiss je b u s re a late submitted

Members Bulletin Board

This section is dedicated to Chamber members who are utilizing their marketing opportunities as one of the many values of belonging to the Chamber:

Artworks.

Still Life Sketch Workshop

Saturday, Feb. 27, 1-3 PM

Big Rapids Community Library bigrapids.lib.mi.us

Activities & Events have been suspended until further notice.

For more information and updates visit our website or follow us on Facebook and Twitter.

RECYCLE! Of Mecosta County MONDAY 9 a.m. to 1 p.m.

SATURDAY 9 a.m. to 1 p.m.

424 N. 4th Street Big Rapids, MI 49307 (231) 796-9872

February 2021

Please call ahead or check out an organization's website for up-to-date schedules & information!

Fundamentals of Photography

Tuesdays, Mar. 2-Apr. 6, 5:30-7:30 PM After School Art

Tuesdays, Feb. 2-Feb. 25, 3:45-5:15PM Open Pottery Studio

Feb. 4 & 18, 5-8 PM Basket Weaving: Roly Poly Basket

Saturday, Feb. 13, 9 AM-3 PM Clay Birdhouse Workshop

Saturday, Feb. 6, 10 AM-2 PM For class descriptions, fees, and registration visit artworksinbigrapids.org/classes or scan QR code

February 2021

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Mecosta County Area Chamber of Commerce Newsletter • Visit us at mecostacounty.com

MECOSTA COUNTY CALENDAR OF EVENTS

FEBRUARY 2021

*All events are subject to change or cancellation.

Feb 7

AMVETS Auxiliary Monthly Breakfast @ Post 1941 from 9-11:30 AM

Feb 14

Mecosta VFW Pancake Breakfast 8:00-11:30AM

February 2021

SPECIAL DAYS GFWC MONTHLY MEETINGS 2ND TUESDAY OF THE MONTH, SEPTEMBER THROUGH MAY AT THE BIG RAPIDS PUBLIC SAFETY DEPARTMENT. CALL 231-349-7743 FOR MORE INFORMATION.

ARTWORKS

OPEN POTTERY STUDIO: FEB. 4 & 18, 5-8 PM

Feb 14

Valentine's Day

CLAY BIRDHOUSE WORKSHOP: SATURDAY, FEB. 6, 10 AM-2 PM

Feb 15

President's Day

TUESDAYS, MAR. 2-APR. 6, 5:30-7:30 PM

STILL LIFE SKETCH: SATURDAY, FEB. 27, 1-3 PM FUNDAMENTALS OF PHOTOGRAPHY: AFTER SCHOOL ART: TUESDAYS, FEB. 2-FEB. 25, 3:45-5:15 PM

Feb 18

Foot Care Clinic @ the Mecosta County Senior Center from 10AM-2PM

QI GONG RED FOX MARKET

TUESDAYS, WEDNESDAYS & THURSDAYS BEGINNER: 10-10:30 AM ADVANCED: 10:30-11 AM

BIG RAPIDS COMMUNITY LIBRARY STORY TIME - MONS & WEDS 10:30-11:30A

COMMUNITY PLAYGROUP - TUES 9:30-11:30A KNIT NIGHT - 1ST & 3RD THURS 6:30-8:30P TINY TOTS TINKER LAB - FRIDAYS 10:30-11:30A

BIG RAPIDS ROTARY CLUB MEETS EVERY TUESDAY AT NOON AT FALCON HEAD BIG RAPIDS LIONS CLUB MEETS EVERY SECOND AND FOURTH MONDAYS OF THE MONTH, 6:30 P.M. AT #52 SPORTS BAR AND KITCHEN.

DISABLED AMERICAN VETERANS, CHAPTER 18

A SERVICE OFFICER IS AVAILABLE TO ASSIST VETERANS IN RECEIVING BENEFITS. THURSDAYS 10 A.M. TO 2 P.M. AT THE DAV IN BIG RAPIDS. ALL VETERANS WELCOME