COVID-19 Tax / Jobs Update
Be Smart – Be Safe
Dear CSA Members,
Effective April 3, 2020
- California Loan Guarantee — Federal government offering first-come, first-serve loans of up to $10 million for small employers + Governor Newsom announces $50 million in loan guarantees for small businesses that may not be eligible for federal relief
- Job Openings in Critical Industries — Governor joins Bitwise Industries in announcing OnwardCa.org, a platform connecting COVID-19 displaced workers with over 70,000 job opportunities in critical industries
- Tax Filing Extension — The executive order allows the California Department of Tax and Fee Administration (CDTFA) to offer a 90-day extension for tax returns and tax payments for all businesses filing a return for less than $1 million in taxes. That means small businesses will have until the end of July to file their first-quarter returns.
- Tax Relief — California is also allowing small businesses to defer payment of sales and use taxes of up to $50,000, for up to 12 months.
Click here for more info.
Teresa M. Young has been a consultant to entrepreneurs since 1986, in both retail and B2B sectors. In 1991, she became President of Sign Biz, Inc., a full-service business development company. Young sits on multiple boards, including as Past Chairwoman of both the International Sign Association (ISA) and California Sign Association. She is an accomplished code writer, web developer and contributor to the Git Repository. Young is also an in-demand speaker, engaging business owners with topical and powerful business insights and strategies in support of best business practices and modern marketing strategies under her MintyWorks and Coffee with T brands. 200 click-and-mortar enterprises were established under the Sign Biz business model with more than $19,000,000 worth of SBA-backed funding for these businesses.