Upcoming
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Update on COVID-19 Related Tax Relief: Employee Retention Tax Credit (May 12, 2021)
Wednesday, May 12, 2021
1:00pm – 2:00pm PDTRegister: https://us02web.zoom.us/webinar/register/WN_L_rYvyDMSoSW7yWy9Tvlsw
Join us for updates on these two important tax credit programs.
- The Employee Retention Credit (ERC) encourages businesses to keep employees on their payroll. As a result of the new legislation, eligible employers can now claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees after December 31, 2020, through June 30, 2021. Qualified wages are limited to $10,000 per employee per calendar quarter in 2021. Small employers may request advance payment of the credit (subject to certain limits).
- In its race to get Americans vaccinated against COVID-19, the Biden administration recently announced a tax credit for businesses that give employees time off to get vaccinated. Speakers will review issues of eligibility and how companies and on-profits can apply for the credit.
Speakers
Kristina Hudson
OneRedmondSarah Huang
Clark NuberCathye Mason
IRS
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Save the date! Update on COVID-19 relief funding (May 20, 2021)
Save the date
Thursday, May 20, 2021
2:30pm – 3:30pm PDT
Registration information coming shortly!
Past
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Review of the Restaurant Revitalization Fund Grant Program (Friday, April 30, 2021)
Applications for the $28.6 Billion Restaurant Revitalization Fund (RRF) opens on MONDAY, MAY 3rd at 9AM PDT. Submissions will be processed in the order they are received, so it is imperative you submit your application at 9am or shortly thereafter.
View the video, slides, and Q&A transcript from the webinar that reviewed: who is eligible to apply;grant award priority; how and when to apply; how funds can be used; and how much funding you may be eligible to receive.
Eligible grant applicants may receive a tax-free federal grant equal to the amount of its pandemic-related revenue loss, calculated by subtracting its 2020 gross receipts from its 2019 gross receipts.
STEP 1: Register today!
The RRF Portal is now OPEN register today at restaurants.sba.gov, by inputing a username, password, email address, and mobile phone number.
If you use Square or Toast as your Point of Sale (POS) system, you do not need to register – these vendors are providing a custom portal to apply. Please reach out to your POS provider for details. Other POS platforms that have an integration tool to expedite your application submission on the SBA’s RRF Portal, include: Clover, Lightspeed/Upserve, NCR (Aloha), Oracle Micros and Heartland.
How to prepare
SBA will begin accepting applications via the application portal on Monday, May 3 at 9am PDT. The application portal will remain open to any eligible establishment until all funds are exhausted.
NOTE: The SBA will accept applications from all eligible applicants, but only process and fund priority group applications for the first 21 days – these are applications where the applicant has self-certified that it is owned by women, veterans, or socially and economically disadvantaged individuals.
In preparation, qualifying applicants should familiarize themselves with the application process in advance to ensure a smooth and efficient application. In addition to registering at the portal, follow the steps below. If you are working with Square or Toast, you do not need to register.
- Review the sample application, program guide, and the overview of the application process screen-by-screen
- You may also want to review the cross-program eligibility chart, on SBA COVID-19 relief options.
- Applications must be submitted in English or Spanish. The SBA does provide documents in additional languages to help you understand eligibility requirements, fill out applications, and answer frequently asked questions. See the additional languages and materials here.
- If you have additional questions we encourage you to review the SBA RRF Online Knowledge Base which currently has over 100 FAQs in addition to technical articles program.
- The SBA’s RRF Call Center Support Number is 1-844-279-8898
Speakers:
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
- Michael Reis, Business Response Team at reSTARTUP425
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Updates on American Rescue Plan Act and WW4 Grant Opportunity (March 25, 2021)
Experts from the U.S. Small Business Administration (SBA) and Washington Small Business Development Center (SBDC) review the key small business takeaways from the $1.9 trillion American Rescue Plan Act of 2021 which passed on March 11, 2021.
In addition learn more about the $240 million Working Washington 4 (WW4) Small Business Grants Program which is scheduled to open on Monday, March 29, 2021.
Speakers:
- Steve Burke, Washington@wsbdc.org, SBDC Main Line: (833) 492-7232, Western Washington Regional Manager, Small Business Development Center (SBDC)
- Joel Nania, joel.nania@sba.gov, (509) 353-2810, Spokane Branch Manager, Seattle District Office, U.S. Small Business Administration (SBA)
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES:
OTHER RESOURCES:
- American Rescue Plan Overview
- SBA website for the latest updates — sign up for SBA email updates
- PPP (Paycheck Protection Program) Overviews at SBA & U.U.S. Treasury
- SBA PPP Lender Match
- EIDL & Targeted EIDL Advance
- Shuttered Venue Operator Grant Portal https://www.svograntportal.sba.gov/ — OPENS April, 8, 2021
- SVOG Application Informational Webinar, Tuesday, March 30, 2021
- SBA Restaurant Revitalization Fund Overview
- Working Washington 4 (WW4) Website and Application Portal – www.commercegrants.com, Applications open March 29 – April 9, 2021
- Working Washington 4 SBDC Webinar, April 1, 2021
- WW4 support email commercegrants@submittable.com, phone (855) 602-2722, additional language support (206) 333-0720
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Business Impact NW: https://businessimpactnw.org/grow-your-business/coaching/
- Technical Assistance for Non-English Speakers
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Ask the Experts: Maximize Your PPP Opportunity (March 4, 2021)
The SBA on Wednesday, March 4, 2021, released a new application and loan calculation formula for PPP loans for self-employed and gig workers. For these business it will mean larger forgivable loan amounts going forward.
Our inaugural Ask the Experts Webinar reviewed the new application form and loan calculation formula followed by an Ask the Experts format designed to help get the answers businesses need to maximize the $284 billion PPP forgivable loan opportunity.
Speakers:
- Steve Burke, Washington@wsbdc.org, SBDC Main Line: (833) 492-7232, Western Washington Regional Manager, Small Business Development Center (SBDC)
- Roland Chaiton, rolandc@businessimpactnw.org, (206) 324-4330 x111, Sr Vice President, Sr. Loan Officer & Director Strategic Initiatives, Business Impact NW
- Walter McLaughlin, wmclaughlin@bannerbank.com, (425) 806-2881, Senior Vice President & SBA Manager, Banner Bank
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES:
OTHER RESOURCES:
- SBA website for the latest updates
- Sign up for SBA email updates
- PPP (Paycheck Protection Program) Overviews at SBA & S. Treasury
- SBA PPP Lender Match
- Local Lender list: www.smallbizhelpwa.com
- Banner PPP Application Portal: https://www.bannerbank.com/en/business-solutions/business-commercial-financing/sba-cares-loans
- Business Impact NW: https://businessimpactnw.org/
- Business Impact NW PPP Waiting List (response in 48 hours): https://airtable.com/shrYNcMeU5mnRWyYh
- PPP First Draw Borrower Application Form
- PPP First Draw Borrower Application Form for Schedule C Filers Using Gross Income
- How to Calculate First Draw Loan Amount: https://www.sba.gov/document/support-how-calculate-first-draw-ppp-loan-amounts
- PPP Second Draw Borrower Application Form
- PPP Second Draw Borrower Application Form for Schedule Filers Using Gross Income
- How to Calculate Second Draw Loan Amount: https://www.sba.gov/document/support-second-draw-ppp-loans-how-calculate-revenue-reduction-maximum-loan-amounts-including-what
- Link to PPP Forgiveness Application Forms
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Business Impact NW: https://businessimpactnw.org/grow-your-business/coaching/
- Technical Assistance for Non-English Speakers
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Don't Miss Out on This Round of Forgivable PPP Loan Funding (February 25, 2021)
For small business owners struggling to pay rent and make payroll, the federal government’s $284 billion forgivable PPP (Paycheck Protection Program) loan is a lifeline. Participants are eligible for loan forgiveness for the amounts spent on authorized expenses including payroll costs and qualifying non-payroll costs such as operating expenditures, supplier costs, and worker protection.
This year’s relaunched PPP program is aimed at even smaller businesses, and provides special funding for the service sector, nonprofits, and minority, under-served, veteran, and woman-owned establishments. Learn more about the opportunity, application process, and the frequently generated error messages turning up this round, from additional validation checks put in place to flag potential fraudulent applicants, that could delay processing of your PPP application.
Speakers:
- Roland Chaiton, rolandc@businessimpactnw.org, (206) 324-4330 x111, Sr Vice President, Sr. Loan Officer & Director Strategic Initiatives, Business Impact NW
- Walter McLaughlin, wmclaughlin@bannerbank.com, (425) 806-2881, Senior Vice President & SBA Manager, Banner Bank
- Joel Nania, joel.nania@sba.gov, (509) 353-2810, Spokane Branch Manager, Seattle District Office, U.S. Small Business Administration (SBA)
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES:
OTHER RESOURCES:
- SBA website for the latest updates
- Sign up for SBA email updates
- SBA Seattle District Office site
- PPP (Paycheck Protection Program) Overviews at SBA & S. Treasury
- SBA PPP Lender Match
- Local Lender list: www.smallbizhelpwa.com
- Banner PPP Application Portal: https://www.bannerbank.com/en/business-solutions/business-commercial-financing/sba-cares-loans
- Business Impact NW: https://businessimpactnw.org/
- Business Impact NW PPP Waiting List (response in 48 hours): https://airtable.com/shrYNcMeU5mnRWyYh
- PPP 1st Draw Application: https://www.sba.gov/document/sba-form-2483-ppp-first-draw-borrower-application-form
- PPP 2nd Draw Application: https://www.sba.gov/document/sba-form-2483-sd-ppp-second-draw-borrower-application-form
- How to Calculate First Draw Loan Amount: https://www.sba.gov/document/support-how-calculate-first-draw-ppp-loan-amounts
- How to Calculate Second Draw Loan Amount: https://www.sba.gov/document/support-second-draw-ppp-loans-how-calculate-revenue-reduction-maximum-loan-amounts-including-what
- Link to PPP Forgiveness Application Forms
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Business Impact NW: https://businessimpactnw.org/grow-your-business/coaching/
- Technical Assistance for Non-English Speakers
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Shuttered Venue Operators Grant, EIDL and EIDL Advance Overview (February 11, 2021)
This webinar reviews the programs administered by the SBA’s Office of Disaster Assistance, including the Economic Injury Disaster Loan (EIDL) Targeted EIDL Advance Program, and the Shuttered Venue Operators (SVO) Grant program that’s focused on supporting shuttered live venues, theaters, museums, etc. experiencing significant revenue losses.
Speakers:
- Mark Costello, mark.costello@sba.gov, Deputy District Director, Seattle District Office, U.S. Small Business Administration (SBA)
- Cynthia Cowell, cynthia.cowell@sba.gov, (916) 735-1500 ext. 4081, Public Information Office, Field Operations Center – West, Office of Disaster Assistance, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES:
OTHER RESOURCES
- SBA website for the latest updates
- Sign up for SBA email updates
- SBA Seattle District Office web site
- EIDL (Economic Injury Disaster Loan) Advance & Loan
- Shuttered Venue Operators Grant
- Employee Retention Tax Credit – IRS Overview & FAQ
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Technical Assistance for Non-English Speakers
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2020 Tax Update: How the EIDL, PPP, ERTC, PUA and Regional Grants will Affect Your Taxes (February 5, 2021)
A number of new programs were created in 2020 to help small businesses, which means this year your taxes are likely going to look a little different than they normally do. This webinar reviews how forgiven loans, grants, and unemployment benefits will impact your business taxes. Learn how the Economic Aid Act also amended the Employee Retention Tax Credit (ERTC) to include employers that received PPP loans, so any employer meeting ERTC eligibility criteria can now benefit.
Speakers:
- Cathye Mason, IRS Stakeholder Liaison, Internal Revenue Service (IRS)
- Ricky Waldemann, CPA, CVA, MPAcc, rickyw@falcosult.com, Phone: (425) 883-3111, ext 129, Senior Tax Manager, Falco Sult
WEBINAR RESOURCES:
OTHER RESOURCES:
- IRS Latest News Releases and Corona Tax Relief Overview
- IRS Employee Retention Credit (ERC) Release
- Employee Retention Credit Overview and FAQs – outdated at this time
- IRS Earned Income Tax Credit (EITA) Overview & EITA Eligibility Assistant
- Family First Coronavirus Response Act (FFCRA) – Tax Credits for Required Paid Leave and Leave Credit Reference Sheet
- Form 941-X from the IRS – Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- OneRedmond’s Group Health Insurance partner Business Health Trust in partnership with the Seattle Chamber’s REACH program is sponsoring Free CPA Help for small businesses needing assistance to make the best use of the Employee Retention Tax Credit and Payroll Protection Program (PPP) second draws for 2020 and 2021. Email leighj@seattlechamber.com and she will connect you with a CPA.
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Technical Assistance for Non-English Speakers
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Navigating the Updated PPP Forgiveness Process (January 27, 2021)
The $900 billion Economic Aid Act extends the Paycheck Protection Program (PPP) that was created to assist small businesses impacted by COVID-19. This webinar reviews everything you need to know about the revised PPP program, including how it affects current and future loans, and how loans are calculated and forgiven.
Speakers:
- Steve Burke, Washington@wsbdc.org, SBDC Main Line: (833) 492-7232, Western Washington Regional Manager, Small Business Development Center (SBDC)
- Mark Costello, mark.costello@sba.gov, Deputy District Director – Seattle District Office, U.S. Small Business Administration (SBA)
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES:
OTHER RESOURCES:
- SBA website for the latest updates
- Sign up for SBA email updates
- SBA Seattle District Office site
- PPP (Paycheck Protection Program) Overviews at SBA & S. Treasury
- SBA PPP Lender Match
- SBA Debt Relief Programs
- Link to PPP Forgiveness Application Forms
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Technical Assistance for Non-English Speakers
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Funding Available Under the Economic Aid Act Including PPP (January 21, 2021)
The Eastside Recovery Hub’s first webinar of 2021 reviewed the new Coronavirus relief provisions available under the Economic Aid Act, signed into law on December 27, 2020. Topics covered include new SBA Debt relief, updates to the EIDL and EIDL Advance programs, special lending accessibility in the new legislation for certain businesses, updates on the newest round of PPP Loans, and review of the new Shutter Venue Operators Grant Program.
Speakers:
- Steve Burke, Washington@wsbdc.org, SBDC Main Line: (833) 492-7232, Western Washington Regional Manager, Small Business Development Center (SBDC)
- Mark Costello, mark.costello@sba.gov, Deputy District Director – Seattle District Office, U.S. Small Business Administration (SBA)
- Janie Sacco, janie.sacco@sba.gov, SBA Message Line: (206) 553-7310, Marketing & Outreach Specialist – Seattle District Office, U.S. Small Business Administration (SBA)
WEBINAR RESOURCES
OTHER RESOURCES
- SBA website for the latest updates
- Sign up for SBA email updates
- SBA Seattle District Office web site
- PPP (Paycheck Protection Program) Overviews at SBA & U.S. Treasury
- PPP Lender Match
- SBA Debt Relief Programs
- Shuttered Venue Operators Grant
- EIDL (Economic Injury Disaster Loan) Advance & Loan
- Employee Retention Tax Credit – IRS Overview & FAQ
FREE ONE-ON-ONE BUSINESS ADVISORS:
- East King County SBDC Advisor, Mari Wruble, mariw@oneredmond.org
- Small Business Development Center (SBDC) Business Advisors
- (Re)Start425 Business Response Team
- Technical Assistance for Non-English Speakers
Community Partner Webinars
photo credits this page: Green Rubino