Business owners across our area continue to face questions every day about how best to address the impacts of the pandemic. We find that many of the questions small business owners are asking focus on issues related to employment law and accounting.
Our office hosted a webinar, FAQs for Employers about Accounting and Legal Issues, to offer businesses an opportunity to get their questions answered by industry experts. For issues related to employment law, we heard from Kevin Ceglowski, partner, Poyner Spruill LLP. For tax questions, we heard from three presenters with Elliott Davis:
- Marshall Stein, principal, Raleigh office leader
- JJ Littrell, Charlotte market accelerate department leader
- Rebecca Leshman, senior manager – tax
Ceglowski highlighted the key areas where he sees clients have the most questions. These areas include:
- Paid sick leave related to the Family First Act
- Sick leave requirements and how to calculate sick leave pay
- Family and Medical Leave Act
- Unemployment, including who may qualify for benefits
- Layoffs and furloughs
- Employee benefits
His presentation slides provide more details about each of these areas.
From Elliott Davis, the speakers covered these accounting topics:
- Economic Injury Disaster Loans, including loan amounts, terms, and interest rates
- Paycheck Protection Program, including loan amounts and criteria
- CARES Act, including payroll tax provisions
- Tax deadline changes
Their presentation slides also cover these areas in more detail.
During their presentation, Littrell said, “Everything we talk about is evolving and subject to change on a daily business. Stay in touch with your service providers because there is a lot to manage with all the changes.”
Both the representatives of Poyner Spruill and Elliott Davis said that businesses with specific questions could reach out directly to their offices.
Our Response Raleigh Chamber site also has answers to many frequently asked questions from small businesses, as well as resources available to them. You also can reach out to us through this site with questions that you may have.