Tag: COVID-19 general support

Small Business Tax Basics

Business taxes can be quite complicated for new business owners and seasoned entrepreneurs alike, so it makes sense to learn the basics of business taxes before you file. In this webinar, you will learn the answers to some of your most important tax questions, including the types of business taxes, who you pay them to and how, record keeping, basic deductions, and some tax relief due to COVID-19.

Register: https://kingcounty.zoom.us/webinar/register/WN_5t6_rYz1T9qcuTq4P4gRmw

King County Small Business Task Force: https://www.kingcounty.gov/depts/local-services/programs/economic-development.aspx

Survival Tool Part 1: Your Swiss Army Knife for Recovery

A Swiss Army knife is a multi-faceted compact knife with various attachments for multiple uses. The term “Swiss Army Knife has even acquired usage as a figure of speech, indicating it’s extreme versatility applicable to any scenario one might encounter. SBDC would like to introduce you to Breakeven, an equally powerful multi-faceted business financial tool that, when used correctly and wisely, can act as your “Swiss Army Knife”. Breakeven tells you the level of sales that you need to achieve in order to “make bank” each month. But we want your business to thrive, not just breakeven! Learn how to use this valuable tool to help you make many financial decisions in your business to help ensure your profitability. Learn the steps for calculating a simple breakeven for your business and receive an introduction into the powerful uses for this tool

Simpler PPP Forgiveness for Loans of $50,000 or Less

The U.S. Small Business Administration, in consultation with the Treasury Department, has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.

Join representatives from the U.S. Small Business Administration (SBA) and the Washington Small Business Development Center (SBDC) as they review the latest updates to the forgiveness process and what they may mean for you and your business.

Business Transition Webinar: Planning your exit amidst COVID-19

Washington SBDC in Lacey presents:

Business Transition Workshop – Planning your exit amidst COVID-19

Join us for a webinar featuring a panel of industry experts to help guide you through the decision-making process of transitioning your business. Whether you are retiring, transitioning ownership, or selling your business, we will discuss some valuable considerations:

How do I know what my business is worth?
How does COVID-19 affect the timing of my succession planning?
How can I sell to my employees/family members?
What are the tax implications?
Should I hire a broker?
Do I need an attorney to draw up the purchase and sale agreement?
Guest Panelists:

Jessica Jensen, Attorney – Cap City Law

Wes Martin, Broker – Sound Business Brokers

Michael Wittenberg, CPA – Wittenberg CPA, PS

Moderated by:

Jennifer Dye, MBA – CBA and Center Director for Lacey SBDC

Best Practices for Hotel Operators during COVID-19

Register here: https://wsbdc.ecenterdirect.com/events/99271193

This webinar analyzes best practices by industry leaders to operate and create new business models during COVID-19. We will review top suggestions by these leaders regarding reopening hotels, increasing occupancy, and best practices to keep guests and staff safe. The discussion will also include information regarding both the Rooms division and the Food & Beverage divisions related to COVID-19.

The webinar will be presented by John Morosco. John is a Washington SBDC Certified Business Advisor. He has extensive experience managing restaurants, hotels, assisted living facilities and skilled nursing facilities. He owned an Italian restaurant.

John taught hospitality and business courses at the University of the Virgin Islands, where he was an assistant professor. John holds a Bachelor of Science in Hotel, Restaurant, and Tourism from Florida International University and a Master of Public Administration in Long-Term Care from the University of New Haven. See more about John here https://wsbdc.org/wenatchee-john-morosco/

SBA Loan Updates and PPP Loan Forgiveness Application Process

This webinar will cover recent updates to SBA COVID-19 related PPP loan forgiveness application process.

Representatives from the SBA and the Washington State Small Business Development Center (SBDC) will review the PPP Loan Forgiveness regulations and related applications and instructions including how it changes the rules related to owner compensation, FTE counts, the 24-week covered period, non-payroll costs and more.

Questions will be answered as time allows

Topics Covered:

EIDL and PPP Loan Update information
PPP Flexibility Act, forms, unforgiven loan info
PPP Loan Forgiveness Application process
Definitions of Payroll Use, Costs and Time Frame
Qualifying for Form EZ
Self Employed Individuals/Sole Proprietors
Definitions of Covered Period & PPP Basics
Lender Process for Loan Forgiveness & Safe Harbors
Documents needed to prove loan eligibility and forgiveness
Deduction of EIDL Advance from Loan Forgiveness
Representations, Certifications, Audits, Appeals
Step by Step Examples of the Loan Forgiveness Applications

Presenters:

Steve Burke, Washington SBDC Certified Business Advisor

Janie Sacco, Marketing and Outreach Specialist, Seattle District Office, U.S. Small Business Administration

Mark Costello, Deputy District Director, Seattle District Office, U.S. Small Business Administration

Instructions:
Zoom security protocols now require each participant have a Zoom account and be signed into their account from their computer or mobile device. https://zoom.us/ Test zoom at https://zoom.us/test

You will receive a link to the webinar before the event. Zoom will request you to ‘register’ for the Zoom meeting.