LUTZ + CORONAVIRUS (COVID-19) RESOURCE CENTER
UPDATE + RESTAURANT REVITALIZATION FUND
The US Small Business Association (SBA) recently updated its website to provide additional details on the Restaurant Revitalization Fund (RRF). The American Rescue Plan Act established the RRF to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
3.30.21 | AMERICAN RESCUE PLAN ACT + HOW WILL IT AFFECT ME? | RECORDING
The American Rescue Plan Act, a $1.9 trillion economic stimulus bill recently passed by Congress, intends to speed up recovery from the recession brought on by the COVID-19 pandemic. This presentation will provide an overview of the American Rescue Plan Act and how it could affect businesses and individuals. In addition, Lutz experts will provide high-level updates on current programs such as PPP and more insight on the Employer Retention Credit (ERC).
LISTEN NOW!
1.26.21 | SECOND ROUND COVID-19 STIMULUS PACKAGE | RECORDING
Included in the Consolidated Appropriations Act, 2021 signed into law in late 2020 is $900 billion of COVID-19 related relief provisions for individual taxpayers and small businesses. In this presentation, the Lutz PPP Team cover various topics to help business owners understand the relief options available.
LISTEN NOW!
PAYCHECK PROTECTION PROGRAM UPDATES
The Consolidated Appropriations Act (CAA) passed at the end of December 2020 contained language reopening the Paycheck Protection Program (PPP) for First Draw Loans and creating the PPP for Second Draw Loans. The below listing presents a summary of the major points of each program.
RESTAURANT REVITALIZATION FUND (RRF) + APPLICATION OPENING ANNOUNCED
On April 27, 2021, the U.S. Small Business Administration announced that registration for the $28.6 billion Restaurant Revitalization Fund will begin on Friday, April 30, 2021, at 9 am ET, with applications being accepted on Monday, May 3, 2021, at noon ET. The online application will remain open to any eligible establishment until all funds are exhausted. Register here or through an SBA Point-of-Sale Restaurant Partner (currently Square or Toast customers with more to be announced soon by the SBA).
SHOVEL-READY CAPITAL RECOVERY AND INVESTMENT ACT FOR NONPROFIT ORGANIZATIONS
The Shovel-Ready Capital Recovery and Investment Act (LB566) is currently pending approval from the Nebraska Legislature. This bill, if passed, intends to provide grants to qualified nonprofit organizations to assist with capital projects that were delayed due to COVID-19 and that will deliver a positive economic impact in the State of Nebraska.
NEW STIMULUS PACKAGE SIGNED INTO LAW
President Biden signed the American Rescue Plan Act last week, which is the third major piece of legislation targeting the COVID-19 pandemic. It contains several tax provisions that impact businesses and individuals.
EMPLOYEE RETENTION CREDIT PROVIDES SIGNIFICANT BENEFITS FOR EMPLOYERS
- Did your business suffer a revenue decline in 2020?
- Do you expect a revenue decline in 2021 compared to 2019?
- Did your business experience a shutdown in 2020?
- Did your business continue paying employees during these times of disruption?
If so, there may be significant opportunities to claim refundable tax credits on wages paid in 2020 and 2021.
COVID RELIEF PROGRAMS FOR BUSINESSES
Interested in learning more about the COVID-19 relief programs available for businesses? Download our guide to receive detailed information on the:
- Paycheck Protection Program (PPP) – First and Second Draw Loans
- Economic Injury Disaster Loan (EIDL)
- SBA 7(a) Debt Relief
- Families First Coronavirus Response Act (FFCRA)
- Employee Retention Credit
- Coronavirus Food Assistance Program (CFAP)
- Nebraska Stabilization Grants/Coronavirus Relief Fund Grants
- DHHS Provider Relief Funds
RELATED ARTICLES
May Retirement Plan Newsletter 2022
This month’s newsletter contains insights on early withdrawals, fee litigation, millennials saving, and more…
Investor Sentiment Hits Extreme Low + Financial Market Update + 5.10.22
In light of these painful drawdowns across the stock market, it’s no surprise that investor sentiment is negative. According to a widely…
Should Investors Be Concerned About Recent Volatility? + Financial Market Update + 5.3.22
The stock market has been experiencing some heightened volatility recently. The S&P 500, which represents domestic large-cap stocks, is…
What a Yield Curve Inversion Means for Investors + Financial Market Update + 4.12.22
Here is a quick summary of what a yield curve inversion is and what it could potentially mean for investors…
Stock Pickers Continued to Struggle in 2021 + Financial Market Update + 3.29.22
New Data published last week from S&P Global showed active fund managers continued to struggle in 2021. With the S&P 500 gaining…
The Fed Policy Shift and What it Means for You + financial Market Update + 3.22.22
Last Wednesday, the Federal Reserve increased its benchmark federal funds rate, a move that was widely expected by the market…
Does it Still Make Sense to Own International Stocks? + Financial Market Update + 3.8.22
Considering everything that is going on, some investors are questioning whether it still makes sense to be invested outside of the U.S…
Investing During Geopolitical Uncertainty + Financial Market Update + 3.1.22
The Russian invasion of Ukraine has gripped the markets over the last week. While volatility was already elevated, geopolitics appear…
Are Bonds Still Worth Owning? + Financial Market Update + 2.15.22
As the market has priced in an increasingly aggressive Fed, the bond selloff has intensified. Through yesterday’s close (2/14), the…
Do you want to receive financial market updates in your inbox? Sign up here!
About Us | Our Team | Events | Careers | Locations