Asistencia Para Desastres Por Tormenta Invernal

Pasos para recibir asistencia.
Para ti y tu hogar:

Primero: debes hacer la solicitud o reclamo a tu seguro.
Asistencia a través de Grant de FEMA  está disponible para hogares sin seguro o con seguro insuficiente.
Requisitos de ciudadanía: al menos un miembro del hogar debe ser ciudadano o residente legal de los EE. UU. (puede incluso ser un niño menor de edad que sea ciudadano o residente legal de los EE. UU. con un padre o representante solicitando en su nombre).
La asistencia de FEMA es una Subvención (Grant) y no tiene que ser reembolsada, y no afecta tus impuestos. No tiene ningún efecto sobre el Seguro Social, Medicaid u otros programas de bienestar.
Pueden ser utilizados para gastos de vivienda temporal, gastos de alojamiento, reparación del hogar, reemplazo del hogar, construcción de vivienda permanente y de cuidado de niños, gastos médicos y dentales, gastos de funeral y entierro, daños a los artículos del hogar, combustible para la fuente de calor primaria, artículos de limpieza, daños a vehículos esenciales, mudanza, almacenamiento y otros gastos o necesidades serias según lo determine FEMA.

Para tu negocio:

Primero:  debes hacer la solicitud o reclamo a tu seguro.  
Préstamos por desastre de la SBA
– Préstamo para desastres físicos para empresas
– Préstamo por desastre por daños económicos (EIDL)
– Préstamos para viviendas por desastre
Se pueden otorgar múltiples préstamos por desastre ya que se emitieron múltiples declaraciones de emergencia (Covid y Winter Disaster). No puede haber superposición (gastos duplicados) en lo que respecta a los fondos, pero dos préstamos por desastre separados pueden estar activos para las dos declaraciones.
Debes tener un historial crediticio aceptable para la SBA
Debes demostrar tener la capacidad de reembolso
Debes tener un colateral para préstamos de más de $ 25K
El tope para préstamos es de $2 millones; interés entre 1,25% y 6%; términos de 7 a 30 años.

Winter Disaster Assistance

By Joni Foster, EGBI Program Director

For you and your household

  • First: Claim against your Insurance
  • FEMA grant assistance available for uninsured or underinsured households.
  • Citizenship requirements: A member of the household must be a citizen, non-citizen national or qualified alien of the US, including a minor child who is a citizen, non-citizen national or qualified alien of the US with a parent or guardian in the house applying on their behalf.
  • FEMA assistance does not have to be repaid and is not taxable income. It has no effect on Social Security, Medicaid or other social safety net programs.
  • Temporary housing, lodging expenses, home repair, home replacement permanent housing construction AND child care expenses, medical and dental expenses, funeral and burial expenses, damage to household items, fuel for primary heat source, clean up items, damage to essential vehicles, moving, storage and other expenses or serious needs as determined by FEMA.

For your business

  • First: Claim against your insurance
  • SBA Disaster Loans
    • Business Physical Disaster Loan
    • Economic Injury Disaster Loan (EIDL)
    • Home Disaster Loans
  • Multiple disaster loans can be given since multiple declarations were declared. (Covid and Winter Disaster) There cannot be any overlap(double dipping) as far as funds go, but two separate disaster loans can be active for the two declarations. 
  • Credit history acceptable to SBA
  • Show repayment ability
  • Collateral needed for loans over $25K
  • $2 million ceiling; interest rate between 1.25 and 6%; terms from 7 – 30 years

2021 COVID-19 Small Business Relief on the Way for EGBI Clients

By Joni Foster, EGBI Program Director

Applications for the new $900 billion COVID-19 small business relief package begin for new borrowers the week of Jan 11, 2021 from community financial institutions like PeopleFund in Austin. What this means for small business owners:

  • If you did not apply for a SBA Paycheck Protection Program (PPP) loan in 2020, you could be eligible for a First Draw PPP loan under this new legislation starting Jan 11, 2021.
  • If you received a PPP loan in 2020, you could be eligible for a Second Draw PPP Loan under the new COVID-19 relief package starting Jan 13th.
  • If you did not apply for an SBA Economic Injury Disaster Loan (EIDL loan) in 2020, there is additional money in the legislation to fund new loans.

Major rules relevant to EGBI small business clients

The following is a quick glance at the Interim Rules for the PPP. Please refer to the SBA for the complete regulations or talk to your lender about your specific situation.

  • Small businesses apply for PPP loans from financial institutions. Talk to your lender. If you don’t have a lender, the SBA will roll out funds to community financial institutions like PeopleFund, LiftFund, BCL of Texas before banks and credit unions. Use this link to get on PeopleFund’s waiting list for a PPP loan: https://peoplefund.org/covid-19-loan-programs/
  • The loan is guaranteed by the SBA. No collateral is required. No personal guarantee is required. The borrow will not pay any fees for the loan. Lender must make a one-time disbursement of the loan within 10 days of approval.
  • The full amount of both First Draw and Second Draw PPP loans may be forgiven if used according to law.  The interest rate is 1% for 5 years for any part not forgiven.
  • Small businesses are eligible if you were in operation by February 15, 2020 and have less than 500 employees. Documents that can establish your eligibility: payroll records, payroll tax filings, Form 1099-MISC, Schedule C or F, income and expenses from a sole proprietorship, or bank records.
  • Second Draw Loans have special eligibility criteria:
  • Borrower for a Second Draw Loan must prove a revenue reduction of 25% or greater in any one quarter in 2020 compared to the same quarter in 2019. This provision appears to make start-up businesses ineligible for a Second Draw Loan if they did not have significant revenue in 2019.
  • Business has 300 or fewer employees.
  • Borrower must use the full amount of the First Draw Loan on eligible expenses before the second loan is disbursed.
  • You don’t have to apply for forgiveness for your First Draw loan before you apply for a Second Draw Loan. The forgiveness process for the First Draw Loan should be clarified and simplified by the end of January 2021. You have 10 months from the end of your loan forgiveness period (typically 24 weeks after disbursement of the loan) to apply for forgiveness. Contact your lender to apply for forgiveness.
  • The FORMULA for PPP loans is the same as last time, 2.5 times your monthly payroll costs and may include owner’s net profit in lieu of payroll as calculated on the Schedule C for 2019 or 2020.
  • Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care or group life, disability, vision, or dental insurance, 62 including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wages, commissions, income, or net earnings from self-employment, or similar compensation.
  • USES of the loan: At least 60% of the loan must be used for payroll costs; the remaining 40% may be used” to support the ongoing operations” such as:
  • Mortgage interest payments
  • Rent
  • Utility
  • Interest on debts prior to Feb.15, 2020
  • Refinancing an SBA EIDL locan made between Jan 31, 2020 and April 3, 2020
  • Covered operations expenditures such as business software or cloud computing service that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting or tracking of supplies, inventory, records and expenses
  • Property damange related to vandalism and looting due to public disturbances that occurred in 2020 that were not covered by insurance
  • Certain supplier costs that were essential
  • Certain worker protection expenditures

*****************************************************************

As background, the Relief legislation will be administered by the US Small Business Administration (SBA) and included:

  •  $284 billion for a second round of the Paycheck Protection Program (PPP). The new relief package includes:
  • additional funding for new PPP loans
  • the ability to obtain a second PPP loan for small businesses facing significant revenue declines in any 2020 quarter compared to the same quarter in 2019
  • clarifications providing for the deductibility of business expenses paid with forgiven PPP loans (a material change from existing IRS guidance)
  • loan eligibility for Section 501(c)(6) not-for-profit organizations for the first time
  • $15 billion for live venues, independent movie theaters and cultural institutions
  • $20 million for the Economic Injury Disaster Loan Program

For more information about the Interim Rules:

 Business Loan Program Temporary Changes; Paycheck Protection Program as Amended by Economic Aid Act

https://www.sba.gov/sites/default/files/2021-01/PPP%20–%20IFR%20–%20Paycheck%20Protection%20Program%20as%20Amended%20by%20Economic%20Aid%20Act%20%281.6.2021%29.pdf

Second Draw Loan provisions

https://www.sba.gov/sites/default/files/2021-01/PPP%20–%20IFR%20–%20Second%20Draw%20Loans%20(1.6.2021).pdf

How to calculate maximum loan amounts by business types (particularly self-employed)

https://www.sba.gov/sites/default/files/2020-12/How-to-Calculate-Loan-Amounts-508_6-26-20.pdf

Mata el tiempo haciendo estas 10 cosas durante la cuarentena

  1. Comunícate con un amigo o amiga que no hayas contactado en una semana
  2. Llena tu encuesta anual de EGBI así Barbra dejara de estresarse.
  3. Ayuda a dar forma al futuro de tu comunidad. Llenando el Censo.
  4. Publica algo en las redes sociales de tu empresa.
  5. No se te olvide estirarte 30 segundos al día.
  6. Organiza tu Cajón de baratijas o basura
  7. Agrega algo positivo en tus redes sociales personales
  8. Da una caminata a alrededor de la cuadra y respira aire fresco.
  9. Revisa la página de EGBI sobre recursos para COVID-19
  10. Limpia tu armario y prepárate con un nuevo estilo para cuando esto termine.
telecommuting

Telecommuting Resources

Due to the current unprecedented events, many of us have been forced to move our work remotely or adjust to a new way of communicating from our homes. Now the questions is, where do I even start? Here is a quick go to list to begin.

DropBox  Bring your files and cloud content together with the tools your team wants to use.

Free Conference Call provides HD audio conferencing, screen sharing and video conferencing with up to 1000 participants. Sign up for a free account.

Google Free access to Hangouts Meet, which allows up to 250 participants and live streaming up to 100,000 viewers per domain, and G-suite until July 1, 2020 .

Jamm Free platform for voice and video collaboration for teams working remotely (integrates with Slack) .

Loom Video recording and sharing service offering boosts to free service plan, discounted prices on LoomPro, and free access for educational institutions through July 1, 2020 . There is no recording limit until July 1, 2020.

Microsoft 365Free 6 month trial of Microsoft 365 E1, with web-based Office apps and business services including email, file storage and sharing, meetings, and instant messaging 

Webex– Video Conferencing, Online Meetings and Screen Share 

Zoom  Online video and web conferencing platform .

Updates During the Covid-19 Crisis

EGBI offers small business owners’ guidance for how to keep your business afloat in the time of Covid-19. These tips are compiled from various websites, conference calls, and conversations over the past two weeks and are SUBJECT to CHANGE from day to day. These tips are not a substitute for legal guidance and your own investigation. Use this guide to point you to things you should be thinking about.

Governmental Health and Safety Orders

  • Federal covis-19 orders trump State Covid-19 orders. State orders trump local orders, but right now in Texas the governor is allowing cities and counties to pass stronger orders than the state.

If you violate the orders, you could be arrested and fined up to $1200 per offense.

The link to the current State of Texas current Covid-19 orders HERE.

Austin Covid-19 information:  http://www.austintexas.gov/COVID19

Keeping your business afloat

You have a couple of choices for Revenue:

  • Stay open and generate revenue if possible, based on your city/county public health response orders)
  • Use the assets of the company (checking, savings and investments)
  • Make a loan to the business from your personal assets
  • Existing line of credit with a financial institution. It is unlikely that you would be able to get a line of credit in the middle of a crisis. If you do have a line of credit, be prepared that the financial institution might cancel it during the crisis.
  • SBA disaster loan – currently – Apply directly with SBA. SBA will determine the loan amount. Must have business financial records and tax returns to prove your need. Loans may be used to pay fixed debts, payroll, accounts payable and other bills. The interest rate is 3.75% for small businesses without credit available elsewhere Businesses with credit available elsewhere are not eligible.
  • If you are declined an SBA loan, they will follow up with you to review your application. Don’t take NO the first time. Check out the Press Release.
  • You can start filling out the documents you will need:

SBA Form 413Personal Financial Statement

  • SBA Covid-19 disaster loans – proposed – as part of the 3rd bill that congress is debating, part of the proposal is that small businesses would apply for SBA Covid-19 disaster loans through financial institutions; offering working capital to keep the business open and staff in place even while there is no revenue; and potentially loan proceeds for wages might be forgiven in an effort to keep people employed.
  • Other disaster loans as they become available from cities and counties.
  • Unemployment compensation – Self-employed people may apply if you have a loss of 50% of revenue or more as verified by financial records and IRS tax records.

You have a couple of choices for lowering Expenses: (use the same thinking for your personal expenses)

  • Insurance – pay your insurance: health and business (if you remain open) Once you miss a payment, you are without insurance.
  • State Sales Tax – CALL AND GET ON A PAYMENT PLAN send them their money when its due.
  • Key People – You want to take care of your people so that they will return to you after the crisis.
  • Employees: Read your Employee handbook. These will tell you how your business will treat your employees for termination, sick leave and vacation time.
    • Employees will qualify for unemployment compensation if they have lost significant revenue from their job or have had to reduce hours because of government orders. The waiting period for unemployment compensation has been waived. APPLY early. They are very busy. (Employers can request a waiver from an increase in unemployment insurance caused by employees filing claims because of Covid-19)
    • Furlough (pay benefits but not wages for employees you hope will return after the crisis) vs termination (end employment). Your employees are the backbone of your business.
    • If you don’t have an employee handbook, at a minimum write down your leave policies.
  • Loans – start talking to ALL your lenders about deferring payments.
    • Have your account number ready.
    • GET THE PERSONS NAME, a physical address and an email. After your conversation, send them an email recapping what was agreed on. MAKE A PAPER TRAIL.
    • They might tell you that you can defer now but will have to pay off in a few short months. You might be able to catch up payments in a few months via an SBA loan (more about that later).
  • Foreclosures won’t happen immediately – courts are closed to non-emergency actions; HUD, Fannie and Freddie (mortgage buyers) have stated they will not foreclose or evict during the crisis.
  • Vendors – check with all to see what they are willing to do. For instance, ATT has offered to defer phone bills under certain situations.
  • Reduce expenses: save as much as you can to be able to keep paying employees
  • Start preparing financial plans for 2 months, 4 months, and ramp up when this is over. (EGBI can help)

Families First Coronavirus Response Act (law passed last week)

  • Small businesses with fewer than 50 employees may qualify for exemption from the requirement to provide leave due to school closings or childcare unavailability if the leave requirements would jeopardize the viability of the business as a going concern.
  • Employee must have worked one month to be eligible
  • Two Weeks (2) / Eighty (80) Hours paid sick leave ( for Coronavirus) at usual rate
  • Cannot force employee to use other accrued leave first
  • Eligible employees may take up to twelve (12) weeks of job-protected FMLA leave where they are unable to work or telework because of a need for leave to care for a son or daughter if their (primary or secondary) school or place of care has been closed, or their child-care provider is unavailable, because of a public health emergency declared with respect to COVID-19- coronavirus.
  • The first 10 days of FMLA leave is unpaid, but employees may elect to substitute accrued vacation, personal leave, or sick leave for the unpaid leave under this section.
  • An employer may not require such substitution.
  • After the 10 days are exhausted, employers must pay the employee not less than two-thirds of the employee’s regular rate of pay for each day of FMLA leave taken thereafter, capped at $200 per day, and $10,000 in the aggregate.
  • House Bill 6201
  • What Employers need to know about Families First Coronavirus Response Act.

Switching to a delivery service.

  • Insurance: if your business is moving to a delivery service using employee vehicles, make sure they have auto insurance and make sure they call their insurance company and let them know they will be using their vehicle in part for business.
    • Employer insurance: ask your insurance for a “drop down policy” to also cover the business for any auto insurance issues.

Succession planning – who can keep your business going if you were to get sick or worse.

  • Speak to an attorney about your LLC operating agreements and your estate planning documents and who can operate your business when you are not available
  • Ask about a Special power of attorney vs durable power of attorney

IRS

Lastly, small business owners can schedule telephone or Zoom coaching sessions with EGBI staff. For current clients, coaching is free during the crisis. Please visit our website for staff contact information and updated information at www.egbi.org.

Online Tips to Improve Your Business Productivity

By Nara Lee

Is your business experiencing down time?  How can we make the most of these  unexpected weeks for our small businesses? Change this time into your chance to improve your business productivity through some online activities!  Here are some tips for your work online. 

  • Prepare for incoming questions and requests

People might be facing a lot of unexpected difficulties which could last longer than what we originally anticipating. In this situation, small business owners shouldn’t panic and must prepare for incoming questions and requests from clients. For instance, the owner of a restaurant business adjust his business to now offer delivery services and prepare for cancellation calls.

  • Create and organize your client email list

You probably haven’t had enough time to create and organize your email list because of your busy schedule, but this is a necessity for all business owners. Creating and organizing email list helps you find out whom to send event information for your business marketing. When you’re organizing the list you also need to segment it, consider the type of customers you will communicate to like potential customers and current clients.

  • Make a website or rebuild your business website

After this period, you may not have the time to rebuild your business website. Take this chance to improve it which you’ve been put off for a long time. If you still don’t have your business website, I have some suggestions for website tools. Squarespace, Wix, Bigcommerce, Weebly, and WordPress are well-known website builders and Google my business also offers free website builder for small businesses.

Don’t be frustrated by this global crisis that came from the virus. You can overcome this hard time by improving your online work productivity!

DEDUCIONES POR MILLAJE EN EL 2020

Por: Carlos Nazario CPA, JD

Los contribuyentes tienen la opción de elegir la deducción del costo del uso de su vehículo por tasa de millaje estándar o los costos reales implicados. El mejor enfoque es poder calcular ambos costos y tomar la mayor deducción.

  • A partir del 1 de enero de 2020, las tarifas de millaje estándar para el uso de un automóvil (incluyendo furgonetas, camionetas o camiones) serán:
  • 57.5 centavos por milla conducida para uso comercial, menos de medio centavo de la tasa de 2019
  • 17 centavos por milla conducida con fines médicos o de mudanza, tres centavos menos que la tarifa para 2019
  • Y 14 centavos por milla conducida en servicio de organizaciones de caridad.

Entonces, por ejemplo, si en 2019 una empresa usó un automóvil exclusivamente para fines comerciales y lo condujo 15,000 millas, con los siguientes gastos reales: reparaciones y mantenimiento $ 50, gasolina $ 2,000, depreciación $ 3,000, seguro de auto $ 1,500. Los gastos reales suman un total de $ 6,550 y cuando se comparan a la cantidad de millas estándar el total es de 8,626 (15,000 x .575), el contribuyente puede optar por tomar la deducción más alta de $ 8,625.

DEductions for Mileage in 2020

By Carlos Nazario CPA, JD

Taxpayers have the option of choosing to deduct as costs of using their vehicle a   standard mileage rate or the actual costs involved. The best approach is to be able to compute both and take the biggest deduction.

Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

•        57.5 cents per mile driven for business use, down one half of a cent from the rate for 2019,

•        17 cents per mile driven for medical or moving purposes, down three cents from the rate for 2019, and

•   14 cents per mile driven in service of charitable organizations.

So for example if on 2019 a business used a car exclusively for business purposes and drove it 15,000 miles, with the following actual expenses: repairs and maintenance $50, gasoline $2,000, depreciation $3,000, insurance $1,500. Actual expenses total $6,550, and when compared to the standard mileage amount of $8,625 (15,000X0.575), the taxpayer may elect to take the higher deduction of $8,625.

Quiero empezar mi negocio, pero no lo sé todo.

Por Leonardo Pozzobon

Emprender un negocio puede ser una aventura, un reto o algo que da miedo. Pregúntele a cualquier emprendedor que por qué empezó su negocio, y responderán cosas personales como “quiero trabajar en lo que me apasiona, y convertir mi hobby en un negocio”, “no soy un empleado, no está en mí tener un jefe, yo necesito dirigir y ser mi propio jefe”, o inclusive “había una oportunidad”, “este mercado existía y estaba vacío” y “yo podía hacerlo mejor”. Sigue indagando y llegará el tema “Si hubiera sabido esto antes me habría ido mejor”, y el emprendedor va a hablar de cosas que le causaron dolor y que usted puede aprender. Todos los emprendedores tienen historias para compartir sobre pasar noches sin dormir tratando de resolver problemas operativos o haber perdido negocios por falta de experiencia o no saber la respuesta a un problema. Por esto y mucho más, es importante tener acceso a recursos de quien aprender y a donde pedir consejos cuando se está en problemas.

Lamentablemente, las mejores oportunidades para aprender y ser un mejor empresario muchas veces vienen después de fracasar con un negocio anterior. Cuando estás en las malas, pasas mucho tiempo ocupado “apagando fuegos”, y no es sino cuando cierras la empresa que tienes la oportunidad de hacer un “post mortem” y entender qué pasó. Por esta razón, es importante no perder la cordura, estar consciente de cambios dentro y fuera del negocio, y hacer cambios antes que sea muy tarde.

Con respecto a este tipo de aprendizajes, es fácil buscar en Google y conseguir cientos de resultados por estas líneas: “10 cosas que debí haber sabido antes de empezar mi empresa”, “7 cosas que debes saber antes de abrir tu negocio”, “ 5 cosas importantes que aprendí con mi empresa” etc. Por supuesto, dos personas con negocios y estilos de vida totalmente diferentes van a tener aprendizajes y experiencias muy distintas, pero no hace daño escucharlos a todos y tomar nota de lo que a uno lo va a beneficiar más. Aquí hay varios aprendizajes que aplican para la mayoría de los emprendedores:

  • Vas a tener que ocuparte del negocio las 24 horas del día, los 7 días de la semana

La diferencia más grande entre un trabajo formal y un negocio es el horario, o mejor dicho la falta de horario. Siempre va a haber un riesgo de que un proveedor tenga un problema durante la noche o un cliente tenga un problema durante el fin de semana. Tomando en cuenta estas posibilidades, haz un plan de contingencia para atender a tu cliente, y organiza a tu equipo para poder recuperarte ante cualquier eventualidad.

  • Optimiza, Externaliza y Automatiza todo lo que puedas

En EGBI hablamos con frecuencia de “Los Cuatro Roles Que Toma El Emprendedor” (Gerente de Producto, Administrador y Organizador, Vendedor y Mercadeo, Gerente de Finanzas), y queremos que entiendas la importancia de dedicar la mayor parte del tiempo a aquel rol que eres bueno. Tu trabajo de emprendedor empieza ocupándote de varios roles, y cuando tu empresa tenga cierta tracción, será hora de comenzar a buscar especialistas y así te puedas dedicar a lo que más te gusta.

  • Un trabajo medio tiempo te dará Paz Mental

Al dejar tu trabajo de tiempo completo y dedicarte a tu negocio, estás también dejando de tener un ingreso fijo y constante, y pasando a depender de variaciones temporales en tus ingresos. Para minimizar el riesgo al que te expones, puedes ahorrar y crear un pulmón financiero que te apoyará, o también conseguir un trabajo de medio tiempo que te dé una pizca de estabilidad y paz mental.

  • Cuando empiezas, todos a tu alrededor se van a emocionar y querrán ayudarte. Cuando necesites esta ayuda, te va a costar encontrarla.

La gente a tu alrededor estará emocionada y ansiando tu éxito. Sin embargo, nada garantiza que el día que necesites ayuda estarán disponibles. Por esta razón, es importante tener acceso a recursos seguros (consultores, coaches, EGBI, etc.) que estarán disponibles para ayudarte en los malos momentos.

Con esto en mente, espero ya sepas que el camino del emprendedor trae consigo dificultades y retos que hoy no hay forma de predecir, y tienes que tomar todas las oportunidades que aparezcan para aprender. Estas dificultades que mencioné arriba no son el fin del mundo, y manejar un negocio no es imposible. Los retos existen para que tú te mejores a ti mismo y a tu negocio, y el día que sientas que te enfrentes con dificultades que no sepas atacar, eres bienvenido en EGBI para entrenamiento, coaching y apoyo.

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