Tag Archives: small businesses

COVID-19 Financial Relief, Education, Tips

Long-Awaited SBA Rules For Forgiveness Application

Leave a comment

The Small Business Administration gets some kind of perverse joy out of releasing guidance on Friday nights. Last week, it was the new PPP loan application, and this week, it’s the guidance to accompany it.

The Journal of Accountancy did a nice job summarizing each of the new documents on Monday — I definitely recommend reading their brief write-up under the heading “Provisions of note in 2 new interim rules”.

I spent some quality time myself on Sunday going through all 45 pages — it’s actually two sets of guidance, the interim final rule to outline the requirements for loan forgiveness, and the one for loan review procedures and related borrower and lender responsibilities.

Here are my takeaways, with page numbers referenced in each document:

Paycheck Protection Program – Requirements – Loan Forgiveness

  • Accrued interest will be forgiven with the rest of forgiveness (no guidance on interest calculation for partial forgiveness) (page 7)
  • Still no confirmation one way or the other re: EIDL advance subtraction (page 8) — is this only for EIDL advances that meet the characteristics outlined in the CARES Act, or all EIDL grants?
  • Paid OR incurred (not paid AND incurred) — which means unpaid costs from prior periods are in fact eligible (page 9)
  • Supplements to salary/wages are included:
    e.g., bonuses, hazard pay, and additional wages paid to replace tips (except to owners in excess of 2019 income) (page 11)
  • Payroll to furloughed employees is included (page 11)
  • Owners are limited to 8/52 x 2019 compensation (shareholder-employees can also include health insurance and retirement employer contributions, but not Schedule C sole proprietors or partnership partners)
  • Otherwise not limited to 8/52 of costs (except owner payrolls) (page 12-13 utility example)
  • Prepayments are allowed (only mortgage interest specifically excluded) (page 13)
  • FTE reduction exception clarified somewhat (page 13-15)
  • Salary/wage reduction (page 19) appears to take hours-worked into consideration for salaried employees — but heads-up: that is not reflected in the AICPA workbook
  • Similarly, loan forgiveness will not be reduced for exemptions (page 22), but only an FTE solution is offered; I suspect this means that for the wage reduction spreadsheet, only employees working during the 8-week forgiveness period should be included. (I’ll be asking AICPA to clarify this in the instructions.)

    And although not new, I felt they drove home the point that we should make sure to maintain written records of any employees who voluntarily resigned. This will be part of the documentation when substantiating the forgiveness application.

Paycheck Protection Program – SBA Loan Review Procedures and Related Borrower and Lender Responsibilities

  • There will be an opportunity to respond to SBA questions regarding loan forgiveness substantiation before a decision is made (page 9)
  • There will be an appeal process if eligibility is denied by SBA (page 10)
  • The lender will have to review but not audit (independently verify) all documentation and calculations supplied by the borrower, before submitting to SBA
  • The lender may rely on third-party payroll processor records (not required to review source data unless these records are not available) (page 11)
  • Lenders may rely on borrower representations, but must confirm calculations and substantiation (page 12)
  • No date yet by which forgiveness application is due – but bank then has 60 days to submit to SBA and SBA has 90 days to respond (page 12)
    …so it could easily be well over 5 months before you find out whether you got forgiveness.

In summary, I’d say some of these were already clear from the forgiveness application but they finally put it in writing; and some actually confirmed something I could only guess at before; but a few examples actually drove home some important new — or previously vague — points; others were just confirmation that we still don’t know some things, such as the all-important EIDL question.

For a more in-depth walk through the PPP loan forgiveness application, please see Tony Nitti’s excellent line-by-line deep dive — and the AICPA’s spreadsheet calculator. Or if you’re a sole proprietor/ independent contractor/ gig worker who files a Schedule C, then skip the in-depth stuff and follow along with Brian Thompson’s short article instead.

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.

Education, Site News, Tips

PPP Forgiveness Application Calculator Spreadsheet

Leave a comment

UPDATE: AICPA has partnered with a Fintech lender to create an online version of their forgiveness tool — www.PPPForgivenessTool.com — available free of charge. More on the project here. The spreadsheet below still works, and I personally prefer it, but the online tool is easier to use if you don’t already have background into how the PPP rules work.

My husband and I have collectively spent nearly 18 hours preparing, updating, editing and testing our PPP Forgiveness spreadsheet, as well as comparing it with colleagues’ versions… only to be stymied at every last moment — each time we were ready to “go live” with it, some new guidance, analysis or interpretation was released that had us going back to the drawing board. At this point I’m joking with my clients that it’s a mythical creation.

And it might have to stay that way — the AICPA has done such an incredible job with their version that I’m not sure we can do any better.

It’s not pretty, and it’s a bit clunky, and there’s no budget tool or FTE calculator included — but the logic is sound and it does a lot of the calculations for you. And they’ve made it public! Just scroll down to where it says “PPP loan forgiveness calculator“.

CPA Practice Advisor notes, “As the AICPA has emphasized throughout this process, questions surrounding guidance make critical decisions unnecessarily challenging and complex for PPP loan recipients and those who are considering applying for the program.” They created a loan forgiveness calculator last week that reflected both the latest SBA guidance and additional AICPA recommendations, and presented it to Treasury. Unfortunately that was not the version that became the final application (released this past Friday night).

“The AICPA loan forgiveness calculator provided more support and details than the SBA loan forgiveness application, and we will continue to encourage Treasury and SBA to leverage our recommendations,” said their VP of Firm Services.

So they reconciled their previous version with the forgiveness application, released it to the public — and you should use it.

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.

Education, Site News, Tips

PPP Loan Forgiveness Application Update & Resources

4 Comments

As I reported Friday evening, the SBA has released their PPP loan forgiveness application — and it’s not all the good news we had hoped for, unfortunately.

Because some politicians involved with the drafting of the forgiveness rules had been saying on twitter that a longer time-frame and more flexibility on how the funds can be spent were key to making the PPP more effective, we had been hoping for an application reflecting these characteristics — but it did not turn out that way. The entire thing at this point feels like “too little, too late”.

What Were Hoping For But Did Not Get (The Bad News)

  • An extension to the 56-day (8-week) forgiveness period (at least for restaurants, bars, cafes and other fully- or partially-closed businesses)
  • Simplified rules for FTE and salary/wage reduction calculations
  • EIDL advance funds used for non-PPP purposes exempt from forgiveness subtraction (per analysis by many colleagues, this is still the case; but on the application it is not apparent, and many banks will not understand the subtle distinctions)

What We Did Get (The Good News)

  • Unpaid rent and utilities from a period prior to forgiveness can be paid during the forgiveness period
  • Rent and utility payments made shortly after the forgiveness period can also be included, if for services during the 8-week timeframe
  • Forgiveness period — as it relates to payroll costs (including employer portion of health insurance and retirement) — can be delayed to coincide with the first pay period after disbursement
  • If an employee was fired, quit, or voluntarily had their hours reduced due to non-pandemic reasons, their FTE and salary/wages will not count against the employer
  • Safe harbor for salary/wage reduction (however, additional complicated calculations are required)
  • Safe harbor for FTE reduction (however, additional complicated calculations are required)
  • Clarification on various calculations (e.g., FTEs, forgiveness phase-out, and forgiveness reductions)

There is a lot more to unpack, of course, but those are some highlights. I recommend the following excellent articles for step-by-step explanations and analysis (no, I do not have any affiliation with Forbes — I just think they are writing some of the best material on the topic these days). Also, many thanks to colleague Andrea Carr CPA for preparing a Fillable Version of the SBA PDF Forgiveness Application.

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.

Education, Site News, Tips

PPP Loan Forgiveness Application Released by SBA

2 Comments

The PPP Loan Forgiveness Application was finally released by SBA — at 8 pm the Friday of my birthday weekend. PARTY!

You’ll find the application here:

https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf

No, I have not analyzed it yet, and my birthday is this weekend, so please understand that I may not have feedback on it until Monday. (Unless it keeps me up all night obsessing over it.) Thanks for your patience!

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.

Education, Site News, Tips

Advice For Small Business Owners Amid COVID-19 Instability

1 Comment


Things are scary right now — we’re seeing how size and capital are rewarded in tough times, not just good ones. We’re recognizing that operating on cash flow and not having savings is risky. And we’re keenly aware of how our employees depend on their jobs for their health insurance.

But it’s not all grim… we’re not entirely powerless. There are loads of resources out there, and if we went into entrepreneurship in the first place, chances are we have some of our own: Creativity, Resilience, and Flexibility:
– Creativity? Brainstorm. Imagine a new world, not a return to the old one.
– Resiliency? You’ve likely overcome struggles before, or know other business owners who have. Tap into this.
– Flexibility? Take off the blinders and open up your view to all the possibilities out there.

With that in mind, here are ten valuable pieces of advice for what to do next.

1) If you still have staff you’re paying, I recommend taking advantage of the Employee Retention Tax Credit that you get by reducing your required regular payroll deposits, and applying for the balance on Form 7200. I know that Gusto (my favorite payroll company) is helping many of its clients through this process, which provides immediate cash in the form of certain payroll tax payments that don’t have to be made (in essence an advance on the credit). Treasury has indicated that you cannot take ERTC and PPP at the same time (though it sounds like they are working on a way for folks to take advantage of ERTC and simply have it deducted from the PPP forgiveness should the business end up with PPP funding).

2) Payroll Tax Deferral – similar to the above, in the sense that you only benefit from this if you have staff still on payroll (or yourself if you are a shareholder-employee), but this one is just a delayed payment of the employer portion of Social Security taxes. Again, I know Gusto is doing this for their clients on request. And again, guidance initially indicated that you couldn’t do payroll deferrals and PPP, but has since indicated that you can defer these payroll taxes until the end of the PPP forgiveness period, and the original due dates for the deferment will stick. More info here.

3) EIDL – the Economic Injury Disaster Loans are still an option for farmers only. Only the advance is forgiven, and there’s no way to know how much of an advance you’ll get (though in general it seems to line up with $1K per employee), but if you need cash, you should apply. If you request $25K or less, there’s no personal guarantee or collateral required.

4) Regarding the Paycheck Protection Program:
 – Get your PPP application in order if you have not applied already. I’ve got a whole list of lenders accepting applications in this blog post.
 – Similarly, work with your accountant to establish a plan for tracking the loan for forgiveness, so you have everything set up properly from the moment the funds are received. There’s a lot we don’t know about the forgiveness calculations from SBA. Make a plan to structure your forgiveness-period payroll to ensure the maximum amount of the loan will be forgiven.
 – And make sure you have a business checking account! Some folks are using personal checking accounts for their business – these rules about this changed four years ago, but some were apparently grandfathered in, and these small business owners are finding that the banks will not even consider their applications as a result – even though they’ve been banking there for ages. The banks are prohibited from depositing PPP funds into a personal account.

5) Pivot Your Business: If you haven’t already, start redefining your business model now. Even once the stay-at-home order is lifted, it might be quite some time before people are comfortable shopping or dining or drinking out. Research alternative models; ask around as to what other businesses are doing; investigate new revenue streams; communicate with your employees.

Some examples:
– switching to online sales and other new/expanded sales channels (even for service-based businesses like entertainment, makeup/hair lessons, art/hobby and cooking classes);
– offering virtual shopping and curbside pickup;
– pairing with other businesses to deliver/ship care-packages;
– going to a 100% take-out model with a contactless pick-up window;
– having staff take care of customer ordering and deliveries instead of GrubHub or Caviar, or switch to a co-op bike delivery service;
– provide services for free and ask for tips, donations, or pay-as-you-can;
– increasing your marketing and social media presence, improving your website;
– offering in-demand products along with your usual offerings, such as groceries or alcohol;
– teaming up with your local Chamber of Commerce to establish a virtual neighborhood store, and more.

This is likely the #1 most important thing you can do to come out on the other side once this is behind us. And don’t just take my word for it. Lots of resources are out there to help you reinvent yourself. Among them: five things to recognize now: you’re not alone; what you do now will determine your future success; recognize that the future has already changed; we can never over-prepare… and this too shall pass.

6) Go on unemployment. If you’re no longer able to pay yourself, or you’re paying yourself a substantially reduced salary, you may be eligible. Shareholder-employees have been eligible since Day One for the full amount (they receive W-2s from their own companies and have been paying into the system all along), and as of yesterday, self-employed folks such as sole proprietors and partners in partnerships are able to apply. Even if you received PPP funds, you can claim backpay for the period of time between when you stopped being able to pay yourself and when the PPP funds arrived.

7) Remember that there is currently no 10% penalty for withdrawing retirement funds – if you feel confident that you can survive this period but need cash now to do it, consider accessing those accounts now.

8) Cash flow forecasting is something I wish all small businesses did, but they don’t. Consider working with your accountant to build a cash-flow projection system to figure out how to get through this. CashFlowTool.com is a great resource, and they offer free webinars on how to forecast, if you don’t have a professional you can go to (or even if you do).

Once you’ve gone through the effort, you can then see:
– Are there any weeks where it looks like there will be a cash shortfall?
– If so, what is the plan to address that?
– Can we adjust in- and outflows to attain a better cash position by:

  • Reducing days sales in accounts receivable
  • Extending repayment days in accounts payable
  • Negotiating better terms with suppliers on purchases
  • Reducing operating expenses
  • Delaying capital purchases
  • Sell equipment that is no longer needed
  • Run specials on any slow-moving inventory to convert it to cash
  • Have owners contribute additional equity or loans to the company

Wegner CPAs provides a nice template for a 13-week cash flow projection.

9) Apply for small business grants — the focus has been on PPP, EIDL, ERTC and other federal relief efforts, but remember that there are public and private resources available at the state, county and city levels as well. You can just google “COVID relief” and the name of your industry and see the various options.

10) And I know this sounds insane… but try to take moments, tiny little vacations, away from your anxiety. I have to tell myself this every day. There is so much that is out of our hands; we have to work on the things over which we have control, and try to let go of what we don’t. The world isn’t working the way we want it to, or maybe even thought it did. For a lot of us, that’s a shock, and the emotional weight of that can pull us down. To survive this, we’ll need to shake off the anxiety and plan for a brighter future.

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.

Education, IRS, Tips

PPP Loan Forgiveness NOT In Jeopardy By Employees Refusing To Return To Work

Leave a comment

ABA Banking Journal reported last night that the SBA has updated its Payroll Protection Program FAQ confirming that PPP “borrowers who attempt to rehire employees that were laid off will not have their loan forgiveness amounts reduced if those employees decline the offer to return to work”. 

The exact wording of FAQ #40 is here:

This is huge news for some of my clients who run restaurants, cafes, retail, and other types of businesses where working remotely is not an option, and where working conditions are cramped and staff are unable to maintain 6-foot social distancing. Understandably, some employees are hesitant to return to a job that puts their health and the health of their families and communities at risk, especially if those staff members or their loved ones are immuno-compromised.

There has been a lot of political talk about this situation, criticizing furloughed employees for this choice, but let’s all try to remember that the only folks making more money on unemployment are generally earning less than $45,000 annually — and these are the people we’re asking to put their lives in danger for our economic benefit. It’s not exactly a fair criticism, in my opinion.

That said, it certainly negatively affects the small business owners I serve, and I have been challenged by these dual needs pulling my heart in opposite directions, as I can empathize with both perspectives. The business needs to spend 75% of the PPP funds on payroll, and maintain 75% of the prior full-time-equivalent hours for their staff. So if staff are unwilling to return, then the entire PPP forgiveness is put at-risk.

This new FAQ lifts that burden for employers, which I applaud. It does make it clear that the unemployment benefits for those employees may be in jeopardy as a result, but at least the owner does not have to shoulder the burden of being the bad guy who reports them (at least, not according to this FAQ — state unemployment laws may have other requirements).

Two recommendations for business-owners who receive PPP funds and are challenged by this situation, where former employees do not want to return to a risky work environment because they are making enough on unemployment:

  1. Offer returning staff a hazard-pay bonus to make it worth the risk. Obviously this isn’t an option for those who are immuno-compromised, since no amount of money is worth their life; but for everyone else, consider increasing their pay temporarily with weekly retention bonuses. This will increase company loyalty, help meet the 75% payroll rule for PPP forgiveness, and assist in rebuilding the business. You can easily set up a “Hazard Bonus” payroll item in your payroll software.
  2. Point out to staff that returning to work will leave them additional unused weeks of unemployment pay for future use, if the business ends up having to close again after the PPP funds are exhausted.

Finally, some good news. Awaiting further guidance on PPP forgiveness and will be posting more as I learn more.

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, Tips

Why Aren’t Insurance Companies Paying Business Interruption Claims?

Leave a comment

According to Antonio Romanucci, a speaker on today’s Crain’s “Crisis Relief for Businesses” webcast, he has yet to see a single insurance company honor a business interruption claim due to COVID-19 and the resulting stay-at-home orders.

As he points out in this article:

The devil is in the details here, and there are several parts of insurance policies that are at the heart of the discussions:

  • Does a policy cover “All Risks” against loss or physical damage or is there “Stated Peril” for loss or damage to policies based on certain, covered causes?
  • Is there coverage for losses due to decisions or directions by a Civil Authority, like the government directed shutdown of non-essential businesses?
  • Is there a Virus Exclusion that does not cover losses due to viruses or bacteria, which could be general or name specific viruses or bacteria?

Regardless of the language in their policy, business owners should file a claim in writing to determine their insurance company’s response and, if the claim is denied, consider a conversation with a legal expert to have their policy reviewed and consider possible next steps, which could include the filing of a legal complaint to bring in the judicial system to review the insurance contract and declare whether or not coverage is deserved.

Insurance companies have collected billions of dollars in premiums that should first be paid to policyholders to keep those smaller businesses from going bankrupt.  If the pandemic leads to critical financial strain on the insurance industry, then those enormous corporations should turn to the federal government for a bailout, very much like what is being given to the airline industry.

Read the full article here:
https://rblaw.net/covid-19-has-devastated-the-restaurant-industry-why-arent-their-insurance-companies-helping/

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.

Tips

Important Updates on EIDL Program

Leave a comment

UPDATE 6/10/20:
Sec. Carranza indicated today that new EIDL applicants will begin to be accepted next week — they are still working through the queue of previous applicants, but as they get a handle on that, the system will be available again (currently it is only available to farmers). I have a client who applied on April 8th who received their loan this past week, so I can confirm that they really are still in-motion… when you see money suddenly show up in your bank account with “SBA TREAS” in the description, that’s probably it.

As of 11:15 am Central Time, April 27th, this is the news (above) from the SBA website on Economic Injury Disaster Loan (EIDL) funding. To me, it sounds like they’re saying that unlike the PPP, the EIDL did maintain a queue of existing applications. More to come soon — check back on their website regularly.

Gusto recently released a solid, comprehensive write-up on the EIDL with step-by-step instructions on how to apply. Check it out.

I’m also getting a lot of questions about random amounts that are showing up in the accounts of folks who applied for both EIDL and PPP — so here are a few tips:

  • Remember, the EIDL funding comes straight from the SBA, not a bank, and so the bank feed description will usually read something like “SBA Treas.” Whereas PPP comes from the bank through whom you applied.
  • Also, EIDL funds tend to be even numbers, whereas PPP funding is more often for odd amounts (and you’ll usually know what this is before the amount arrives).
  • You will always have to sign for a PPP loan before it is disbursed. Whereas you may receive the EIDL advance with no paperwork beyond the initial application, and no notice ahead-of-time that it will be funded.

Presumably there should be less confusion between these amounts and the IRS Stimulus Checks, as those are for personal accounts, versus EIDL and PPP, which are for business accounts.

Please see my original post on the topic for more information on EIDL.

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.

Education, Illinois, Tips

FREE Webinar May 1 – Shifting Your Business Online

Leave a comment

This Friday 5/1 at 9:30 AM — FREE BACP Webinar: Shifting Your Business To Online (E-commerce).

I have a lot of small business clients in retail and services that could use some assistance pivoting their offerings online, and am hoping this webinar can provide a jumping-off point.

Presented by World Business Chicago – Join 37 Oaks Consulting, ChiBizHub, World Business Chicago and City of Chicago Business Affairs & Consumer Protection (BACP) for an informational webinar to help inspire you on ways you can shift, move or elevate your business to an e-commerce model.

The webinar is free, but you must register here for login info:
https://www.eventbrite.com/e/shifting-your-business-to-online-e-commerce-tickets-103549621706

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, Tips

Chicago BACP Outlines Important New Rules for Businesses

Leave a comment

From the Chicago Department of Business Affairs and Consumer Protection, April 27th, 2020:

On Thursday, April 23rd, Governor Pritzker announced an extension of the Illinois Stay at Home Order to the end of May. Under this extension, there will be important modifications to the Stay at Home Order that will come into effect on May 1st. These modifications provide increased flexibility for certain businesses and important new guidelines to protect workers and consumers.

Here is an overview of the changes that will become effective May 1st and will last through the month of May. Please note that these rules are subject to change- please visit www.chicago.gov/coronavirus for updates.

1. NEW Requirement to Wear Face Coverings
Effective May 1st, all individuals over the age of two that can medically tolerate face covering will be required to wear a face covering over their nose and mouth when they are:

  • in a public space and unable to maintain a six-foot social distance; or
  • in any indoor public space.

2. NEW Categories of Businesses Considered Essential
The following businesses will be considered essential and may re-open beginning May 1st:

  • Animal Grooming Services
  • Greenhouses, Garden Centers and Nurseries

These businesses will be added to the full list of essential businesses under the previous Stay at Home Order, which can be found on the Frequently Asked Questions tab at www.chicago.gov/coronavirus. All essential businesses must follow the social distancing requirements outlined in number four below.

3. NEW Permissible Activities for Non-Essential Businesses
Beginning May 1st, retail stores that are not designated as essential may re-open to fulfill online or telephone orders. These orders must be completed through pick-up outside of the store or through delivery. All non-essential businesses engaged in minimum basic activities such as these must follow the social distancing requirements outlined in number four below.

4. NEW Requirements for all Businesses to Protect Employees and Consumers
Effective May 1st, all businesses are required to take the following steps to the greatest extent possible:

  • Provide employees with face coverings
  • Require that employees wear face coverings in circumstances where they are unable to maintain a six-foot distance at all times
  • Where work circumstances require it, provide additional Personal Protective Equipment
  • Evaluate whether employees are able to work from home

This applies to all essential businesses and non-essential businesses that are engaged in minimum basic operations. These requirements are in addition to existing requirements to designate six-foot distances, have hand sanitizer and sanitizing products available, designate separate operating hours for vulnerable populations and post online whether a facility is open and how best to reach the facility.

5. New Requirements for Retail Businesses to Protect Employees and Consumers
In addition to the requirements outlined in number four above, all retail businesses are required to take the following steps to the greatest extent possible beginning on May 1st:

  • Cap occupancy at 50 percent of store capacity or occupancy limits
  • Set up store aisles to be one-way where practicable
  • Communicate with customers through in-store signage, public service announcements and advertisements about the social distancing requirements
  • Discontinue use of reusable bags

6. NEW Requirements for Manufacturers to Protect EmployeesIn addition to the requirements outlined in number four above, all manufacturing businesses are required to take the following steps to the greatest extent possible beginning on May 1st:

  • Stagger shifts
  • Reduce line speeds
  • Operate only essential lines, while shutting down non-essential lines
  • Ensure that all spaces where employees may gather, including locker rooms and lunchrooms, allow for social distancing
  • Downsize to the extent necessary to allow for social distancing

Please be advised BACP has been and will continue to enforce the Stay at Home Order. Citations for businesses violating the order, including the social distancing requirements, can range up to $10,000 per offense. The modifications in the new Stay at Home Order are essential to building on the lifesaving progress our State has made over the last month.

Note: BACP Upcoming Webinars Are Listed Here.

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.