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IT’S THE LAW: 2 Trillion PASSED!!!


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Hello shop owners, there is a lot of money there to get you through COVID-19.

Trump signed it.

Here's what you get:

●     SBA Forgivable Loans Up to $10,000,000*

●     SBA Emergency Grant Up To $10,000*

●     Withdraw Retirement Penalty Free Up to $100,000*

●     SBA Disaster Loans Up To $2,000,000

●     Defer Payroll Taxes Sec 2201 To 2021/2022*

●     Recovery Rebates $2,400 MFJ/$1,200 Single*

●     Get Cash For NOLs In '18, '19, '20*

●     Employee Retention Credit Up To $10,000/employee*

●     Sick Employee Payroll Tax Credit Up To $2,000/employee/qtr

And there is SO MUCH to consider. 

From CNN: Trump signs historic $2 trillion stimulus after Congress passes it Friday

Washington (CNN) - President Donald Trump signed into law Friday afternoon a historic $2 trillion stimulus package as the American public and the US economy fight the devastating spread of Covid-19.

The far-reaching legislation stands as the largest emergency aid package in US history. It represents a massive financial injection into a struggling economy with provisions aimed at helping American workers, small businesses and industries grappling with the economic disruption.

From Fox News: Trump signs $2T stimulus bill after House approves historic coronavirus response

President Trump on Friday signed a more than $2 trillion legislative package to combat the coronavirus pandemic and send economic relief to workers and businesses squeezed by restrictions meant to stop the outbreak’s spread after the House of Representatives overwhelmingly approved the legislation earlier in the day.

"I want to thank Democrats and Republicans for coming together and putting America first," Trump said during an afternoon Oval Office signing ceremony.

 

 

For more info please call us at 1-954-324-0803 or book an appointment at https://calendly.com/markjohnsontaxplanner/45min

 


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  • Have you checked out Joe's Latest Blog?

         5 comments
      I recently spoke with a friend of mine who owns a large general repair shop in the Midwest. His father founded the business in 1975. He was telling me that although he’s busy, he’s also very frustrated. When I probed him more about his frustrations, he said that it’s hard to find qualified technicians. My friend employs four technicians and is looking to hire two more. I then asked him, “How long does a technician last working for you.” He looked puzzled and replied, “I never really thought about that, but I can tell that except for one tech, most technicians don’t last working for me longer than a few years.”
      Judging from personal experience as a shop owner and from what I know about the auto repair industry, I can tell you that other than a few exceptions, the turnover rate for technicians in our industry is too high. This makes me think, do we have a technician shortage or a retention problem? Have we done the best we can over the decades to provide great pay plans, benefits packages, great work environments, and the right culture to ensure that the techs we have stay with us?
      Finding and hiring qualified automotive technicians is not a new phenomenon. This problem has been around for as long as I can remember. While we do need to attract people to our industry and provide the necessary training and mentorship, we also need to focus on retention. Having a revolving door and needing to hire techs every few years or so costs your company money. Big money! And that revolving door may be a sign of an even bigger issue: poor leadership, and poor employee management skills.
      Here’s one more thing to consider, for the most part, technicians don’t leave one job to start a new career, they leave one shop as a technician to become a technician at another shop. The reasons why they leave can be debated, but there is one fact that we cannot deny, people don’t quit the company they work for, they usually leave because of the boss or manager they work for.
      Put yourselves in the shoes of your employees. Do you have a workplace that communicates, “We appreciate you and want you to stay!”
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