When and How to Bring Back Employees

05/28/2020

While reopening and re-staffing requirements are highly dependent upon the business’ location and current government mandates, there are consistent rules all employers must follow under the New Mexico Department of Health’s COVID-Safe Practices. These include: Arranging work stations to provide at least six feet between individuals where…

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Calculating PPP Loan Forgiveness

05/22/2020

The SBA has released its application form and instructions for Paycheck Protection Program borrowers who wish to see their loans forgiven. The agency released the form in consultation with the U.S. Department of the Treasury. The application includes a worksheet that details how to calculate the amount of the loan that can be forgiven and provides a…

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Insurance and Employment Guidance for Reopening Businesses

05/15/2020

Reopening? Check Insurance Coverages First As states across the nation – including New Mexico – are preparing to relax or rescind COVID-19 related restrictions, many business owners are anxious to reopen their doors to the public. Before reopening their businesses, however, owners should carefully review their insurance coverages; businesses…

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IRS COVID-19 Related Credits

05/11/2020

The Internal Revenue Service reminds employers affected by COVID-19 of three important new credits. Employee Retention Credit The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially…

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New Relief Funding Bill Enacted; New Mexico Governor Amends Health Order

05/02/2020

New Relief Funding Bill Enacted President Trump recently signed a new relief funding law that increases the amounts appropriated to the Paycheck Protection Program (“PPP”), the SBA—for more than just Emergency Economic Injury Disaster Loans (“EEIDLs”)—and emergency grants. Direct appropriations were increased from…

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