(CARES) Act: Small Business Administration Loans and Grants
By Jennifer Kobylarz, CPA, MST In an effort to protect employee wages, the CARES Act established a Small Business Administration (SBA) – Business Loan Program called the Paycheck Protection Program. The SBA will guarantee 100% of the loans made under the program from February 15, 2020 through June 30, 2020. The SBA loans are only […]
Good Habits Are Made in The Bad Times: Helpful Ideas for Automotive Dealers during the COVID-19 Crisis.
This is a great time to “one up” Carvana. Franchised dealerships are in a better position to sell cars online and to fully consummate the sales transaction. Enhancing your technology to sell over the internet and finalize finance contracts is at the highest priority. Each state has varied laws for unwinding such deals and customers […]
COVID-19 2019 Tax Filing and Payment Extension
On March 20, 2020 Treasury Secretary Steven Mnuchin sent a Tweet out to the American people announcing that the April 15th tax deadline would be postponed until July 15, 2020. The IRS promptly issued Notice 2020-18 to corroborate this announcement. The new Notice supersedes Notice 2020-17 which postponed tax payments due on April 15th until […]
Webinar: Automotive Dealership Response to COVID-19 Crisis, Q&A
For those of you who requested or those that might have missed it, a copy of this morning’s Automotive Dealership webinar can be found here. https://zoom.us/rec/play/6Zd5Jbyv_Wk3GtfBuASDU_Z9W9W-ff6s1Cgd_fNezx7hByICZAeuYeBAYOf1fRFZf5wmIWvWdX-_8UrR?startTime=1584715629000 Thank you to Scott Lewis, CPA, Michael Semanie and Kenneth Rosenfield for presenting.