Get Ready for Federal Relief
While federal legislation is still under discussion, get your business ready to apply
The federal government is continuing to negotiate a new COVID-19 relief package. Legislation is expected to pass in the next few days, and then federal agencies structure the application process for small business assistance.
In the meantime, there are some steps you can take to get ready to apply, according to a webinar hosted by CT’s Small Business Development Center. Don’t scramble at the last minute and try to reach people like your accountant or payroll service when they may be out for the holidays!
Start getting documents together:
- 2019 Taxes (filed in 2020)
- Income Statement and/or Quarterly Sales Tax report to show revenue loss for 2020, and equivalent statements from 2019 for comparison
- Payroll report (941s), Employee List
- Estimated 2020 Taxes (Schedule C or K)
- 1099-MISC (for independent contractors)
CT SBDC has scheduled informational webinars. The content of the webinar will change based when Congress passes a relief bill.
CT SBDC Webinar: Federal Relief Funding Updates
You may also want to join CT SBDC for Understanding the CT Paid Leave Program on December 22, 2 – 3 pm. CT Paid Leave will impact business of all sizes, as well as their employees. Join the webinar to understand which employers must participate, who will be eligible for paid leave, and the resources available to support implementation.