2020 was a year of both great challenges and opportunities. If your business was somehow tied to tourism and travel, as so many are in the Flagstaff area, you are to be congratulated for surviving these last 12 months. On the other hand, some businesses, e.g., homebuilding and real estate sales, probably had a great year. My objective in writing this article is give you, the business owner, just enough information to enable you to ask questions of your tax pro on how to obtain the maximum … [Read more...] about Obtaining the Maximum Benefits from the Employee Retention Credit
CARES ACT
Gov. Ducey Begins Federal CARES Act Funds Distribution To Schools
The Governor's Office announced on Thursday that the process has begun to distribute $370 million in federal CARES Act funds to public and charter schools in the state.The Enrollment Stabilization Grant (ESG) Program, a form of COVID relief funding, has allocated a total of $716 million toward Arizona K-12 schools.The program was first announced as part of the Arizona: Open for Learning Plan. The plan is meant to improve school budget stability, increase funding for students utilizing virtual … [Read more...] about Gov. Ducey Begins Federal CARES Act Funds Distribution To Schools
Chamber Business News: CARES Act And Arizona Come Together For Schools In Pandemic
Federal lifelines from the federal CARES Act are not only aiding small businesses and individuals in Arizona to survive the pandemic, they are helping schools navigate new challenges, as well. In total, Arizona will collect $1.8 billion from the CARES Act. Of that, education is receiving an estimated $626 million. That relief has been “critical” for keeping students educated and safe as schools statewide cope with the financial realities of COVID-19, said Arizona Superintendent of Public … [Read more...] about Chamber Business News: CARES Act And Arizona Come Together For Schools In Pandemic
Sinema-Backed Bipartisan Bill Funds Rural Arizona Health Providers
Arizona senior Senator Kyrsten Sinema cosponsored the bipartisan Save Our Rural Health Providers Act, which allocates 20% of all remaining CARES Act Provider Relief Funds as well as any future funds, to rural health care providers in Arizona and across the United States to combat the coronavirus outbreak. “Arizona’s rural health providers need support to help save lives and effectively combat the coronavirus crisis,” said Sinema. Many rural Arizona hospitals are facing financial strain due … [Read more...] about Sinema-Backed Bipartisan Bill Funds Rural Arizona Health Providers
U.S. Department of Commerce Invests $1.2 Million in CARES Act Funding to Help Small Businesses in Arizona
U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding a $1.2 million CARES Act Recovery Assistance grant to the PPEP Microbusiness and Housing Development Corporation, Tucson, Arizona, to capitalize and administer a Revolving Loan Fund (RLF) that will provide critical gap financing to small businesses and entrepreneurs in Arizona adversely affected by the coronavirus pandemic. “President Trump is working diligently … [Read more...] about U.S. Department of Commerce Invests $1.2 Million in CARES Act Funding to Help Small Businesses in Arizona
Sinema Urges Treasury and Federal Reserve to Adjust Main Street Loan Programs
Arizona senior Senator Kyrsten Sinema called on Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell to quickly make adjustments to the Main Street New Loan Facility and Main Street Expanded Loan Facility so Arizona small and mid-size businesses can get needed economic relief during the coronavirus pandemic. “Arizona businesses need economic relief now. I am thankful for the steps the Federal Reserve has taken to stabilize our economy during the ongoing public health … [Read more...] about Sinema Urges Treasury and Federal Reserve to Adjust Main Street Loan Programs
McSally Introduces Bill to Expand Forgivable Expenses Under the Paycheck Protection Program
U.S. Senator Martha McSally (R-AZ) introduced legislation today to support the safety of consumers and employees during the reopening of the American economy. Her bill would aid small businesses with necessary safety improvements and short-term purchases of personal protection equipment (PPE). The Main Street Enhancement and Safety Act would extend loan forgiveness under the Paycheck Protection Program (PPP) to small businesses for the purchase of PPE for employees or necessary improvements … [Read more...] about McSally Introduces Bill to Expand Forgivable Expenses Under the Paycheck Protection Program
CCC students receive CARES Act funds
Coconino Community College has begun distributing money to qualified students from the federal CARES Act stimulus package. About $550,000 is being awarded to qualifying students for the spring and summer semesters. The current estimate is that 744 students qualify for the $600 CCC CARES Act Grant for the current spring semester because they were impacted by the COVID-19 crisis. The remaining $100,000 will be used for CCC CARES Act Grants for summer term students. “This is an excellent … [Read more...] about CCC students receive CARES Act funds
McSally Urges Improvement to Small Business Disaster Loan Program
U.S. Senator Martha McSally (R-AZ) and a group of senators are requesting that the Small Business Administration (SBA) expedite the $10,000 Economic Injury Disaster Loan (EIDL) advances urgently needed by Arizona small businesses. In a letter to SBA Administrator Jovita Carranza, the senators urge the administrator to expedite the $10,000 advances to be received within three days, remove the per-employee cap on advance grants, and restore the maximum loan amount to $2 million. This letter … [Read more...] about McSally Urges Improvement to Small Business Disaster Loan Program
Treasury Launches New Tool for State, Local, Tribal Governments to Collect Coronavirus Relief Funding
U.S. Senator Martha McSally (R-AZ) shared the following information regarding a new web tool launched Friday by the Treasury Department to allow state, local, and tribal governments receive funding to help offset the costs of their coronavirus response as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Once registered through this portal, states and territories will receive promptly half of the funds allocated to them pursuant to the CARES Act. This will fast-track the … [Read more...] about Treasury Launches New Tool for State, Local, Tribal Governments to Collect Coronavirus Relief Funding
