The deadline for Second Draw PPP Loan applications is coming up quickly on March 31. Eligible employers include (1) those who received a First Draw loan and have or will use all of the proceeds and (2) those who can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. What’s different about qualifying this time around is applicants are capped at those businesses with no more than 300…
While there is a lot being said about the rapid increase of automation to replace the human workforce in the face of a global lockdown, not all businesses practices are better accomplished with software rather than the thoughtful personal service of a human being. At MarathonHR, this has been a long-held tenant of our business as we routinely face and fend off “the big guys” when providing payroll and HR services to clients of all…
According to preliminary research reported back in September, approximately 90% of the US population remains susceptible to the novel coronavirus. CDC Director Robert Redfield also said that to reach herd immunity (when enough of the population is immune to prevent outbreaks), immunity rates must reach 60-80%. For more information from this Senate hearing, check out this link. While this information isn’t surprising, businesses are trying to figure out their place in the vaccine flood expected…
MarathonHR offers a Multiple Employer Plan (MEP) 401(k) for small and medium-sized businesses looking to save money on their retirement plans. A Multiple Employer Plan allows two or more unrelated companies to collaborate to offer their employees a 401(k) retirement plan. Recently, MarathonHR has changed the Multiple Employer 401(k) Plan provider to bring better value to all our customers. As a reminder, all MarathonHR clients are eligible to participate in our Multiple Employer Plan together….
Now that the banks (with guidance from the SBA and the U.S. Treasury) are finally opening their doors to PPP Loan forgiveness, dutiful borrowers and their accounting staff are anxious to get their forgiveness applications rolling and the loans off their books. As the initial spirit or “intent” of the loan was to provide coverage for payroll, rent and utilities for a period of 8 weeks, it’s logical that most businesses are starting their application…
To provide financial and administrative relief to America’s smallest businesses, the U.S. Small Business Administration, in consultation with the Treasury Department, finally released a simpler loan forgiveness application exclusively for Paycheck Protection Program (PPP) loans of $50,000 or less. Approval of PPP forgiveness applications and remittance of payments to PPP lenders for PPP borrowers began on October 2, 2020. Visit: https://www.sba.gov/article/2020/oct/08/sba-treasury-announce-simpler-ppp-forgiveness-loans-50000-or-less for more details, instructions and to download the forgiveness application.
As many of the businesses who applied for and were granted PPP loans have since exhausted their funds, we’re beginning to receive calls from diligent accounting professionals and controllers requesting assistance documenting their spend. Simultaneously, we’re beginning to hear from banks that they will be opening their doors to loan forgiveness applicants very soon. Here’s the rub: very few if any banks have clearly spelled out what they want to see in their loan forgiveness…
Earlier this summer the Georgia legislature came together in support of businesses to craft much-demanded legislation to protect business owners from the liability associated with claims that customers and employees contracted COVID-19 in their place of business. The Georgia COVID-19 Pandemic Business Safety Act (GCPBSA) went into effect last Friday, August 7, and expands upon language originally extended to healthcare professionals and healthcare facilities. Protection is now provided for nearly all public, private, sacred or…
On June 26, the Georgia legislature passed the much-anticipated law extending the liability protection provided to healthcare institutions, facilities and workers in the Governor’s Executive Orders dated April 14, 2020, to most all Georgia businesses. Except in cases of “gross negligence, willful and wanton misconduct, reckless infliction of harm or intentional infliction of harm,” the legislation allows business to provide notification to individuals entering their premises that the individual and not the business are responsible…
Businesses who have lost productivity or been forced to cease operations due to a positive COVID-19 test among their employees are going to be particularly cautious about return to work procedures and protocols for receiving guests. Employees, vendors, customers and guests may find themselves faced with seemingly arduous requirements. While it is far from our position to tell you how much is enough, as each individual situation is unique, there are some practical realities worth…
MarathonHR Helps Thomas Eye Center Focus on Patient Care and Service