Families First Corona Virus Response Act Coronavirus Aid Relief & Economic Security Act

What Business Owners Need to Know and Do

Published Monday, March 30, 2020

Virtual Seminar for Thursday, April 2nd 9:00am RSVP to be included live on ZOOM to Russell@LakeNormanChamber.org 

On March 18th and March 27th, President Trump signed into law two (2) laws that will provide economic relief to small businesses all over America: • The Families First Coronavirus Response Act • The Coronavirus Aid Relief and Economic Security Act (CARES Act Are your businesses ready??

Do you know how to calculate your employees pay as it relates to these Acts? Do you know what loan you should apply for? The laws were passed as steps toward protecting employees and employers from undue financial hardships while Americans suffer through the COVID-19 crisis. While both Acts containing multiple provisions, most are about paying employees and SBA Loans.

We will cover the highlights of both and provide you with some guidance on how to calculate wages as well as apply for the loans J. A. (Jay) Lesemann, Jr. CPA CGMA, Managing Member of Lesemann CPAs in Huntersville and the past chair of the LKN Chamber of Commerce and past chair of the NC Association of CPAs, will present a webcast to review the “How To’s and the What For’s” of these two Acts. Some of the topics to be covered: • Companies with 50 or fewer employees • How to count an “employee” • Gig and self-employed workers • Exceptions • How to calculate employee payments and employer credits • How to apply for loans • The requirements for turning the loans into grants

Please join us for a “must know” educational event. It will be broadcast on Zoom on Thursday, April 2 at 9 am. RSVP to Russell@LakeNormanChamber.org to be included in the Zoom Broadcast.   Will be rebroadcast on YouTube via our Chamber Email and Social Media.