Construction Companies Access CARES Act for Economic Relief During COVID-19
The construction industry has seen the impact of the coronavirus crisis play out through increased health and safety concerns, canceled projects, and job losses. With geographic regions and parts of the U.S. economy experiencing rolling partial shutdowns, construction companies are struggling to find new projects and keep workers employed. Costs are higher due to new safety protocols requiring additional equipment and new work procedures.
Many contractors have sought financial relief to pay employees and meet overhead costs during the pandemic through two federal programs included in the Coronavirus Aid, Relief and Economic Security Act (CARES Act). These relief programs are the Paycheck Protection Program (PPP) and the Main Street Lending Program (MSLP).
This month's tax articles are edited by Dave Mize, CPA, Tax Manager
| |
Guilford County Businesses: CARES Small Business Grant ProgramTo mitigate the impact of COVID-19 on Guilford County small businesses and their employees, Guilford County is providing emergency financial support through the Guilford CARES Small Business Assistance Grant Program that is targeted at qualified small businesses that are negatively impacted by the COVID-19 pandemic due to Stay at Home Orders. The program will provide one-time grants of up to $10,000 to help offset the significant, temporary loss of revenue to these qualified businesses during this pandemic and to assist businesses in retaining and paying employees. Learn more on the website for details on how to apply and a checklist for the eligibility requirements.
| |
Optimizing Business Processes for Telehealth Services
The COVID-19 crisis saw the rapid adoption of telehealth services that enable healthcare providers to use technology and electronic information to safely see their patients. Telehealth providers can remotely diagnose, treat, and monitor patients who otherwise are unable to receive in-person medical care. They connect with their patients through the internet, video conferencing, streaming video, imaging, telephone calls, and other electronic communications. Patients enjoy the safety and flexibility that telehealth provides for both routine and chronic care.
| |
|
Market Update
September 2020: This Time Was Different: Managed Volatility in the COVID Crisis
Since the inception of the SIMT U.S. Managed Volatility Fund, there have been 10 significant drawdowns in U.S. equity markets. The causes for the first nine of these drawdowns were varied. They included, but were not limited to, the Global Financial crisis, European debt crisis, U.S. fiscal cliff, U.S. debt downgrade, and oil price shocks. The one thing all of these drawdowns had in common was they were crises or shocks directly to capital markets. READ MORE here.
| |
Can Digital Construction Technology Help the Industry Survive the Pandemic?
Construction companies may be on the brink of a digital revolution, thanks in part to the coronavirus pandemic. The construction industry has been slower than other industries to adopt digital technology, but COVID-19 is spurring companies to be innovative and quickly find effective solutions to track projects, improve collaboration, train workers on new protocols, and reduce costs. Read more to learn some of the ways digital technology can help construction companies become more efficient and resilient.
| |
|
Firm News & Notes- DMJ Healthcare Consulting is pleased to announce that Mike Smith, CPA, and Emily White, EA have earned the Certified Healthcare Business Consultant (CHBC) designation. The requirements for certification are based on professional experience, written examination, and continued education to stay certified. This certification provides individuals with the essential knowledge and credentials they require to successfully distinguish themselves in the marketplace.
- DMJ Partner, Drew Haddock, CPA, has been selected as a member of Leadership North Carolina Class XXVIII. Each year, Leadership North Carolina (LNC) selects committed individuals interested in learning more about their state and connecting with fellow leaders.
- Congratulations to DMJ accountant, Jeffrey Houston, who has earned the CPA certification. Earning the CPA certification requires a commitment to obtaining the required education, passing a rigorous 4 section CPA exam and gaining the required job related accounting experience.
| |
Investment Advisory Services offered through DMJ Wealth Advisors, LLC, an SEC Registered Investment Advisor. Representatives may transact business only in state(s) in which they are properly registered or licensed.
| |
|
|
|
|