(Note: I noticed when reviewing the list that in the Chicago section, it runs alphabetically, but then re-starts with another round of A-Z. Therefore one needs to look in both sections to see all the Chicago recipients.)
BIG is a program through which Illinois awards grants to a diverse group of small businesses, as well as business communities hit hardest by COVID-19 related closures. The grants are for either $10,000 or $20,000 and a total of $46 million have been awarded so far. They are intended to be used to help businesses with working capital expenses (including payroll, rent, utilities, and equipment, as well as other unexpected costs to mitigate the impact of the pandemic, such as PPE, training, and new technology).
“Business categories identified in the first round include small businesses in industries that continue to experience economic hardship due to public concerns for health and safety and in areas that sustained setbacks due to property damage and closures as a result of recent civil unrest.”
“BIG round 1 grants span a diverse geography, as well as business type – with more than 50 percent of grant recipients reporting they are minority-owned. This breakdown includes 14 percent Black business owners, 25 percent Asian-owned, and 11 percent Latinx-owned. Additionally, more than 600 grants totaling $10 million for downstate businesses. To ensure small businesses were given a priority, grantees were required to prove annual revenues of $3 million or lower.”
“More than 5,000 businesses applied for funding, with grantees selected via random lottery. To ensure reviews were conducted with an objective, equitable lens and to maximize the turnaround time on application reviews, DCEO partnered with several community-based grant administration partners, including Accion, Chicago Urban League, Women’s Business Development Center, The Chicago Community Loan Fund, Somercor and Chicago Neighborhood Initiatives.”
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Screenshot from the Illinois Housing Development Authority website pop-up
Please share widely — especially if you know of anyone who might be in need of rent- or mortgage-assistance. There are only a few days left to apply — go to https://www.ihda.org/ and follow the links accordingly.
Chicago Housing Assistance Portal: This portal can route you to the most appropriate of the four housing assistance programs available: DFSS Rental Assistance Program; DOH COVID-19 Housing Assistance Grants; DOH Mortgage Assistance Program; or the Illinois Housing Development Authority Statewide Housing Assistance [click here]
And here is a list of places that can potentially assist with applications, courtesy of State Rep. Will Guzzardi.
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Employers will no longer receive paper copies of snail mail notices — this may not sound like a big deal, but it’s huge. Employers only have 10 days to contest an employee’s potentially false unemployment claim. Often quite a few of these days have unfortunately already passed by the time the snail mail notice arrives. So although in theory this is a good move, it requires employers to regularly check their MyTaxIllinois account — potentially every few days, since there’s no other way to know when a former employee (who may have departed months ago) has made a claim.
For now, #1 above isn’t that big a deal, inasmuch as for the meanwhile, IDES is going to presume that all claims are COVID-19 pandemic-related, unless the employer says otherwise. And as such, the employer unemployment tax rate will not be increased based on these charges. But when they decide to go back to letting unemployment claims affect the employer’s experience rating, this is going to be a huge problem, as most employers will not notice the claims in time to respond to those that should be challenged.
I see an opportunity for a business that monitors each employer’s MyTaxIllinois account for claims submitted, and alerts the employer immediately in case they would like to challenge the claim. Let me know in the comments if you find anyone offering this service. In the meantime, employers should actively check the IDES section of their account on MyTaxIllinois.
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Chicago’s Labor Laws: What You Need To Know For Your Business – Presented by BACP’s Director of Office of Labor Standards
Attend this webinar to learn about the Chicago Labor Laws that you need to comply with in order to run your business. You will learn about the Chicago Minimum Wage, Paid Sick Leave, Fair Workweek and Anti-Retaliation Laws and how these affect your business.
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.
New Illinois programs to provide relief to some of the hardest-hit.
If you know anyone who might be in-need of rent or mortgage assistance, these programs are excellent options, but are likely to run out quickly. Please pass along — links to apply are included in the articles.
Renters can get a one-time grant of $5,000 paid directly to their landlord to cover missed rent since March and pre-pay through December, or until the money is exhausted, according to the Governor’s Office. The fund is expected to help about 30,000 households.
The Emergency Mortgage Assistance program will also give up to $15,000 to about 10,000 households with mortgage payments that are past due or in forbearance.
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A lot of clients have been reaching out about how to handle the Cook County, Illinois property tax bills that began arriving in mailboxes a few weeks ago — so I just wanted to issue a reminder: although the second installment is technically due August 3, property owners can take until October 1 to pay without any interest charge.
Cook County Treasurer Maria Pappas suggested that property owners should go ahead start making partial payments now — to avoid one big payment on October 1. Any balance due after that date will be charged 1.5 percent per month, as required by state law.
To download a copy of your tax bill or to make a payment, visit www.cookcountytreasurer.com. There is no fee if you pay from your bank account:
Select the blue box labeled “Pay Online for Free”
Search by property address or enter your Property Index Number (PIN) and click “Continue.
You also can download a copy of your bill, check and update key information about your property, such as mailing address or property tax exemptions, and more.
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I attended the Crain’s Chicago Business Webcast the other day featuring “State of the Illinois Budget with Comptroller Mendoza“, and although I was generally pleased with her handle on the state’s financial situation and her ability to explain it to the audience, I was disappointed that the mediator did not take my question, which was: what are small businesses supposed to do without more state support, especially where tax payments are concerned?
We all understand that Illinois governor has inherited a major fiscal problem — and how it got this way is a complex matter outside the scope of this blog post. But despite this, in my opinion, there simply need to be more forgiveness and deferral options for state sales and income taxes due from small businesses.
For example, the federal government moved the deadline for both first- and second-quarter estimated quarterly taxes to July 15th; but the state of Illinois left them on their original dates (April 15 and June 15). As a result, many self-employed taxpayers and small business owners ended up accidentally paying them late.
And in March, the Illinois Department of Revenue offered short-term relief for late sales tax payments to all registered Illinois retailers operating eating and drinking establishments. But the problem was that the February, March and April sales taxes that were deferred were due in May, June, July and August (along with the sales taxes from the current month). In case you hadn’t noticed… those businesses are in more dire financial straits now than they were back in March.
So let this post serve as a reminder that Payment #3 (of four) of the February-April 2020 deferred sales taxes is due on July 20th. But also let it be encouragement to contact your Illinois state senators and representatives, the Department of Revenue,Governor Pritzker’s office, and Comptroller Mendoza’s office to request leniency where penalties and interest are concerned, and to ask that they consider changing the due dates and waiving all related fees for businesses with balances due of less than $10,000. Small restaurants and bars are no better off now than they were before this pandemic began, and if we want to help them weather the storm, we need the state to help.
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.
Note: I’ll continue to add to this list as the City releases more dates.
Wednesday, 6/3 at 3:00 PM Webinar Marketing Basics: What you need to know! Presented by Donna R. Rockin, Managing Partner at Rockin Enterprises, Inc. At this presentation, you’ll learn how to identify your Unique Selling Proposition (USP) as well as identify your target markets or ideal customers. The four cornerstones of marketing will also be reviewed and discussed: Product, Price, Promotion and Placement. Finally, learn 10 low-cost methods to promote your goods or services. Click hereto register for the Wednesday, 6/3 Webinar.
Friday, 6/5 at 9:30 AM Webinar COVID-19’s Impact on Employment Handbooks & Policies Going Forward Presented by Charles Krugel, a Management Side Labor, Employment and Human Resource Attorney An interactive discussion concerning the kinds of policies and practices employers will need to consider upon reopening. Click here to register for the Friday, 6/5 Webinar.
Wednesday, 6/10 at 3:00 PM Webinar Plan for A Successful Business Presented by Score Chicago A great Business Plan leads to success. A thoughtful and well-executed business plan is the first step for every potential entrepreneur. Good planning increases the odds of success. This workshop covers the essential elements of business plan development. Topics include: setting goals and objectives, preparing marketing and financial plans and defining action steps to attain appropriate goals. With a good plan, build your road map to success. • Establish the information needed for a detailed business plan. • Create the Environment of the Company • Establish Pro Forma P&L Statements • Identify the Risks • Develop the Expected Cash Flow • Prioritize Your Action Steps Click here to register for the Wednesday, 6/10 Webinar.
Friday, 6/12 at 9:30 AM Webinar Introduction to Intellectual Property, Part I Presented by Lema Khorshid, Fuksa Khorshid LLC An introductory seminar for the savvy entrepreneur who wants to learn to identify the basic forms of intellectual property and formulate an effective intellectual property strategy for his/her business. Click hereto register for the Friday, 6/12 Webinar.
Tuesday, 6/16 at 2:00 pm Webinar Labor Standards Records Requirements and Other Employer Obligations Presented by Office of Labor Standards Review of employer obligations including record requirements and notice/ posting. Click here to register for the Tuesday, 6/16 Webinar.
Wednesday, 6/17 at 3:00 PM Webinar Accounting in Quickbooks Presented by Trak Patel, ARCC Consulting Learn how to keep your financial recordkeeping books using QuickBooks. We will identify the differences between QuickBooks Online vs. QuickBooks Desktop and list the important features and benefits. Click here to register for the Wednesday, 6/17 Webinar.
Wednesday, 6/17 at 2:00 PM & Thursday 6/18 at 10:00 AM Webinars Outdoor Dining during Phase Three Presented by the Department of Business Affairs and Consumer Protection (BACP), the Chicago Department of Transportation (CDOT) and the Department of Cultural Affairs and Special Events Join this webinar for an overview of all outdoor dining options during Phase Three of Chicago’s Reopening Plan. This webinar will cover rules and guidelines for outdoor dining, including how to obtain a sidewalk café permit or the new Expanded Outdoor Dining Permit. Click here to register for the Wednesday, 6/17 2:00 pm webinar. Click here to register for the Thursday, 6/18 10:00 am webinar.
Thursday, 6/18 at 2:00 pm Webinar Anti-Retaliation Ordinance Presented by Office of Labor Standards Overview of the new Anti-Retaliation Ordinance, designed to protect workers from retaliation during COVID-19. Click hereto register for the 6/18 Webinar.
Friday, 6/19 at 9:30 AM Webinar How to Open a Concession at O’Hare and Midway International Airports Presented by the Chicago Department of Aviation – Concessions Department and Unison Retail Management Are you interested in operating a restaurant or shop at O’Hare or Midway International Airport, but don’t know where to begin? Come and learn about the Request for Proposals (RFP) process and how to operate a business at the airport. This workshop will also provide an overview of the Airport Concessions Disadvantaged Business Enterprise (ACDBE) program. Click here to register for the Friday, 6/19 Webinar.
Monday, June 22 at 10:00 AM and 1:00 PM Webinars Indoor Dining: Options for Restaurants and Bars Presented by the Chicago Department of Business Affairs and Consumer Protection The City of Chicago has announced that bars and restaurants can begin indoor service under limited capacity and strict guidelines on Friday, June 26. Join this webinar for an overview of the guidelines for bars and restaurants to reopen indoors. Click hereto register for the 6/22, 10:00 AM Webinar Click here to register for the 6/22, 1:00 PM Webinar
Phase Four Webinars While the phase four start date has not been announced, the Department of Business Affairs and Consumer Protection will be holding webinars to help all industries prepare for the phase four guidelines. Tuesday, June 23 at 9:00 AM: Hotels – click here to register Tuesday, June 23 at 10:00 AM: Personal Services – click here to register Tuesday, June 23 at 11:00 AM: Health and Fitness – click here to register Wednesday, June 24 at 9:00 AM: Arts/Performance Venues and Museums – click here to register Wednesday, June 24 at 10:00 AM: Retail – click here to register Wednesday, June 24 at 11:00 AM: Restaurants and Bars – click here to register
Wednesday, 6/24 at 3:00 PM Webinar The Power Is In Your Pivot: Series 2 Presented by ChiBizHub This webinar, is the second in a series that will convene a panel of business owners and ChiBizHub resource providers to share insight on how they’ve pivoted their businesses during COVID-19. The webinar will provide an overview and tips on how these businesses have remained relevant, gained a new customer base and skills amidst the pandemic to keep their businesses alive. Click here to register for the Wednesday, 6/24 Webinar.
Thursday, 6/25 at 10:00 AM Webinar COVID-19 Relief for Small Businesses Presented by: An SBA Illinois District Representative Join us for an update on the Small Business Administration’s programs to assist small businesses impacted by the COVID-19 pandemic, including the Economic Injury Disaster Loan Program, the Paycheck Protection Program, and more. We’ll discuss eligibility requirements, applying for forgiveness, and other sources of funding. Bring your questions! Click here to register for the Thursday, 6/25 Webinar.
Friday, 6/26 at 9:30 AM Webinar Tips & Tricks for Networking in a Pandemic World Presented by Anna Maria Viti-Welch, President of the Viti Companies Anna Maria Viti-Welch, President of The Viti Companies, will discuss strategies for building business through networking in unusual global circumstances – business might be on pause, but networking is still going strong. Bring your questions! Click here to register for the Friday, 6/26 Webinar.
To view Reopening Chicago: Retail Service, click here. To view Reopening Chicago: Food Service, click here. To view Reopening Chicago: Health and Fitness,click here. To view Reopening Chicago: Personal Services,click here. To view Overview of Chicago’s Reopening Plan for Businesses (Spanish), click here. To view Overview of Chicago’s Reopening Plan for Businesses, click here.
And get ready for the upcoming Phase 4 with Phase Four Webinars: The Department of Business Affairs and Consumer Protection is holding webinars to help all industries prepare for the Phase 4 guidelines.
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.
UPDATE: the webinar dates have passed, but the City of Chicago has made most of the recordings available for viewing, and on the BACP Business Re-Opening Portal.
To view Reopening Chicago: Retail Service, click here. To view Reopening Chicago: Food Service, click here. To view Reopening Chicago: Health and Fitness,click here. To view Reopening Chicago: Personal Services,click here. To view Overview of Chicago’s Reopening Plan for Businesses (Spanish), click here. To view Overview of Chicago’s Reopening Plan for Businesses, click here.
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BACP will be holding a series of webinars to prepare Chicago’s businesses for reopening under Phase 3 of the Protecting Chicago framework.
Specific Industry Webinars:
Monday, 6/1 at 3:00 PM Webinar Reopening Chicago: Personal Services This webinar will provide an overview of the industry guidance for Personal Services such as hair/nail salons, barbershops, tattoo parlors, as they prepare to reopen in Phase Three. Click here to register for the Monday, 6/1 Webinar.
Tuesday, 6/2 at 12:00 PM Webinar Reopening Chicago: Health and Fitness This webinar will provide an overview of the industry guidance for Health and Fitness Centers as they prepare to reopen in Phase Three. Click here to register for the Tuesday, 6/2 12:00 PM Webinar.
Tuesday, 6/2 at 4:00 PM Webinar Reopening Chicago: Food Service This webinar will provide an overview of the industry guidance for Food Service establishments, such as restaurants and coffee shops as they prepare to reopen for outdoor dining in Phase Three. Click hereto register for the Tuesday, 6/2 4:00 PM Webinar.
Wednesday, 6/3 at 12:00 PM Webinar Reopening Chicago: Retail This webinar will provide an overview of the industry guidance for Retail Stores as they prepare to reopen in Phase Three. Click hereto register for the Wednesday, 6/3 Webinar.
Thursday, 6/ 4 at 4:00 PM Webinar Reopening Chicago: Commercial Buildings This webinar will provide an overview of the industry guidance for Commercial Buildings as they prepare to reopen in Phase Three. Click here to register for the Thursday, 6/4 Webinar.
If this or any other posts on the website were useful to you, and your financial situation permits it, please consider contributing to my tip jar. This allows me to continue to provide free accounting resources to small businesses who do not have the funds available to hire a CPA.
Illinois is facing immense challenges as a result of COVID-19, including rising unemployment, health care issues and significant impacts on small businesses. Join U.S. Senator Dick Durbin as he explores the effect of the pandemic on our state, as well as his insights on international vaccine efforts, the need for increased testing and what Congress should do next in response to the crisis.
Featured Speaker: U.S. Senator Dick Durbin, State of Illinois Moderator: Greg Hinz, Political Reporter, Crain’s Chicago Business
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