Weekly Digest – 23 December 2020
A look back at 2020 in charts
Everyone will agree that 2020 was a year unlike any other. This article from Vox includes 20 charts that illustrate exactly how unlike any other year 2020 has been. Here are some of the highlights from those charts: The U.S. continues to lead the world in COVID-19 cases. More dogs and cats were adopted from shelters. The COVID-19 vaccine was developed in record time, especially compared to diseases like Ebola and chickenpox. Unemployment reached its highest level in generations. Greenhouse gases dropped significantly.
We greatly appreciate your support and the opportunity to continue partnering with you. We wish you and your families very happy, safe, and joyous holidays, and we look forward to we look forward to working with you in the New Year!
“Look back in forgiveness, forward in hope, down in compassion, and up with gratitude.” – Zig Ziglar
To provide our team with an opportunity to have some time to enjoy the holiday season, our offices will close on Thursday, 12/24/2020, and reopen on Monday, 1/4/2021.
A skeleton crew will still be available to handle any urgent matters, and process payroll as ususal during this time.
CARES ACT UPDATES
Another stimulus bill – Finally!
Over the weekend, Congress finally reached an agreement that will be voted on Monday, December 21. Thank you to all who took time to contact our government, as it appears that pressed helped to get this bill passed. Details are not clear, as the bill is 5593 pages long. However, according to a release Sunday night from Senate and House leaders, here are the key provisions:
- Direct payment checks of up to $600 per adult and child
- Another round of more than $284 billion for Paycheck Protection Program loans, along with improved forms and qualifications for PPP participation and forgiveness.
- The PPP funds are not going to be taxable income. We will be allowed to take the expense and NOT record the income.
- $300 per week for enhanced unemployment insurance benefits
- $25 billion for rental assistance and an extension of the moratorium on evictions
- $10 billion to help with childcare assistance
- For those with SBA loans, the government is paying those again for six months. If you obtain a new SBA loan between now and March 31st, 2021, the government will pay the first 6 months.
- Extended Family and Sick Leave payroll credits.
- A tax credit to support employers offering paid sick leave
Stimulus payments are not expected to be sent out until sometime early in 2021. President-elect Joe Biden has pledged support for further financial support to small businesses and individuals when he takes office in January.
- The best source for up-to-date and accurate health information is the Center for Disease Control (CDC)
- The CDC also has recommendations for businesses and employers
- Entrepreneur put together a listing of free tech resources for remote work
- The Consumer Financial Protection Bureau has warnings about COVID-related scams
- The Atlantic has a state-by-state coronavirus tracker
We sincerely hope that you and your family are well and remain well. If you have any questions or concerns, don’t hesitate to reach out to us. We are all in this together!
Your team at Lepper & Company, LLC