combsandco


Episode 1: Did you Know That?

Host: Sean O’Rourke

Guest: Stavros Michailidis

“There is nothing to writing. All you do is sit down at a typewriter and bleed.” Ernest Hemingway

I’ve always loved this quote. To me, it speaks volumes about how difficult it is to be “creative.” I actually referenced this quote during my very first conversation with Stavros Michailidis, my guest on this edition of Did You Know That? While my point was one of doubt that creativity could be learned, you’ll discover during this discussion that it was more my definition of creativity was too limited. Humans demonstrate creativity everyday – usually without all the blood – we just have a tendency to not recognize it, and thus, not apply it to future endeavors.

Music: “Naked Memories” by Assaf Ayalon via Artlist

About Stavros Michailidis:

Stavros has been facilitating KI events since 2009 and today he focuses on leading KI’s operations. He brings to KI his experience as an entrepreneur, having co-founded a design build firm, a disaster recovery not-for-profit and an eco-friendly dry cleaning business. Despite his business background, Stavros knew Science had captured his heart when he found himself preferring to read Science News over Harvard Business Review while stuck at airports between flights.

To learn more about his company, Knowinnovation, CLICK HERE

#didyouknowthat #youtube #creativity



Episode 3 – Try and Stop Me Podcast by Colleen Blum

By Colleen Blum

Standing OUT Against the Instabody “Perfect” World – What IS That?! With Jess Mazzucco CEO of The Glute Recruit

What are we teaching our girls they need to be through social media? Do I need to take butt selfies to grow my fitness business? CEO of The Glute Recruit – Voted Best Personal Trainer in Westchester answers all. Jess tells her story about her journey through the corporate fitness world which lead her to create her own company. Jess touches on the unrealistic expectations that social media has and how she is trying to be the change in her industry by getting away from those never changing butt selfies and teaching our little ones to be strong & not focus on skinny.

Guest: @thegluterecuit

Host: @tryandstopme_podcast

Use Code: COLLEEN20 for 20% off your GluteRecruit resistance band!

https://www.thegluterecruit.com/shop

To listen to the full podcast, CLICK HERE

#MotivationMonday



Episode 2: Try and Stop Me Podcast by Colleen Blum with Guest Stephanie Virchaux

Podcast:  Try and Stop Me

Host:  Colleen Blum

Guest: Stephanie Virchaux, of SV Empowerment

On Episode 2, we sit down with my dear friend Stephanie Virchaux.

Stephanie is the Founder of SV Empowerment, she is a Motivational Speaker and an Energy Healer.

Stephanie had over a decade in the corporate world marketing for some of the top beauty brands in the industry. She was making well over 6 figures in the “opportunity of lifetime” position.  Despite all of the perks, at the end of the day, it just wasn’t what her gut was telling her to do. Listen along as she shares her journey which lead her to her coaching business where she was able to use her own tools to help her through some extremely difficult times of her own.

Instagram: @tryandstopme_podcast

Guest Instagram: @stephanievirchaux

To listen to the full podcast, CLICK HERE or check it out on Spotify!



Episode 1: Try and Stop Me Podcast by Colleen Blum

Podcast:  Try and Stop Me

Host:  Colleen Blum

Guest:  Tony Pec, Y Not You Media

Our guest Tony Pec is the go to man for social media and all things business.

Hear how he saw the potential in Instagram growth which led him to say “forget the college degree” and dove right into creating his own Forbes Accredited Marketing agency!

Take a listen the preview below!

To listen to the full podcast, CLICK HERE or check it out on Spotify!

 



COVID-19 Legal Update: Amendments to PPP Loans

unnamed

Thanks to our good friend, Michael Futterman, Partner at McCusker, Anselmi, Rosen & Carvelli, P.C.* for the below helpful information for our clients and friends regarding the amendments to the PPP loans!

On Friday, June 5th, the President signed into law H.R. 7010 which amends several provisions of the CARES Act and the Paycheck Protection Program. In particular, the following changes are effective immediately:

Loan Forgiveness

  • The “covered period” for forgiveness is extended to 24 weeks or December 31, 2020, whichever is earlier. This additional time is critical for those businesses which are just now beginning to re-open.
  • The percentage of loan proceeds that must be used for payroll costs was changed from 75% to 60%. Keep in mind, the legislation adds a new wrinkle requiring you to meet this 60% threshold to obtain any forgiveness, as opposed to previously where it was proportional. In other words, you now need to make sure you hit 60%; otherwise there is no forgiveness.
  • The period to restore the number of employees and amount of payroll to qualify for full forgiveness has been extended to December 31, 2020.
  • The reduction penalty no longer applies if the borrower, in good faith, is able to document that:
    • The borrower was unable to rehire a terminated employee and unable to hire a similarly qualified employee to replace the terminated employee;  and
    • The borrower was unable to return to the same level of business activity as before February 15, 2020, due to compliance with guidance issued by Secretary of Health and Human Services, the Director of Center for Disease Control and Prevention or the Occupational Safety and Health Administration, during the period from March 1, 2020 until December 31, 2020, related to the maintenance of standards for sanitation, social distancing or any other worker or customer safety requirements related to COVID-19

Loan Details

  • The time to pay back any unforgiven portion of a PPP loan is increased to 5 years. This is automatic for loans submitted after June 5; pre-existing loans can also be extended to 5 years, but require agreement by the lender.
  • Payment of principal, interest and fees is deferred until “the date on which the amount of forgiveness determined…is remitted to the lender.”
  • Borrowers can now apply for loan forgiveness up to ten months from the day their covered period ends (whichever period is elected); if they fail to do so, no forgiveness will be allowed.

Payroll Taxes

  • Borrowers may defer 50% of the employer share of their 2020 Social Security taxes until end of 2021 and the other half until end of 2022, even if the borrower’s PPP loan is forgiven prior to December 31, 2020 (originally, deferral was not permitted for a borrower with a forgiven PPP loan).

*Attorney Advertising: The foregoing is a summary of the laws discussed above for the purpose of providing a general overview of these laws. These materials are not meant, nor should they be construed, to provide information that is specific to any law(s). The above is not legal advice and you should consult with counsel concerning the applicability of any law to your particular situation.



Stay Safe – Understanding the Symptoms of Covid-19

Just some quick information on symptoms of Covid-19 and what to do if you think you may be infected.



Small Business Exemptions for Paid Sick Leave Explained
Looking for an easy digestible explanation of the exemptions for companies under Paid Sick Leave? Check out this great video from colleague, Chelsea Whalley of J Donovan Financial.
DOL Clarifies Exemptions to Coronavirus Paid Sick Leave Laws
– Less than 50 employees
– Leave is requested because the child’s school or place of care is closed due to COVID-19 related reasons
– An authorized officer of business has determined that at least one of the 3 conditions described below have been met:
1) The provision would result in small business’s expenses and financial obligations to exceed available business revenue and cause business to cease operating at minimal capacity
2) The employee requesting leave has a specific set of skills and knowledge that without it, the business’s financial and operational health is severely threatened
3) There are not sufficient workers who are able, willing and qualified to perform duties of person requesting leave and this would not allow business to operate at minimal capacity.
DOL is encouraging employers and employees to work together to find a solution during this time that allows the business to be maintained as well as the safety of employees.

 

 

 



New Jersey Specific Loans/Grants for Small Businesses

COVID-19 RESOURCES FOR NEW JERSEY SMALL BUSINESSES

Thanks to our good friend, Michael Futterman, Partner at McCusker, Anselmi, Rosen & Carvelli, P.C.* for the below helpful information for our Jersey clients and friends!

New Jersey’s Economic Development Authority recently approved a $40M program which will provide grants and loans or guarantee private bank loans to small businesses affected by the coronavirus pandemic. The EDA package includes a half dozen programs for New-Jersey based businesses including the following:

  1. The smallest businesses, those 10 or fewer full-time equivalent employees, can receive grants between $1,000 and $5,000. The grants specifically target companies in retail, personal-care, entertainment, recreation, accommodation, food service, laundry and repair services. In order to receive money, businesses will have to attest that they need this money to tide them over and won’t cut any employees or will make every effort to rehire laid off or furloughed staff.
  2. The EDA also has set aside $10 million to make loans up to $100,000 each to mid-sized businesses with less than $5 million in annual revenues to help them meet payroll. The 10-year loans would have zero interest for the first five years and the interest rate would be capped at 3 percent for the second half of the loan.
  3. Two more programs, $15 million in total, will be run through community development financial institutions to make available low-interest loans to small businesses that may not be able to tap into traditional bank borrowing. The NJ Entrepreneur Support Program targets start-ups with less than $5 million in revenue and fewer than 25 employees by providing 80 percent loan guarantees to entrepreneurs.

The $5 million in small business grants will open for applications at 9 a.m. TODAY. Other programs will be out in the coming weeks.  Application window opens TODAY at 9am, application here, https://www.njeda.com/pdfs/NJEDA_COVID-19_Economic-Response-Package-Initial-W.

*Attorney Advertising: The foregoing is a summary of the laws discussed above for the purpose of providing a general overview of these laws. These materials are not meant, nor should they be construed, to provide information that is specific to any law(s). The above is not legal advice and you should consult with counsel concerning the applicability of any law to your particular situation.



Federal Payroll Tax Credits for Paying Sick Leave

Check out this great video from colleague, Chelsea Whalley of J Donovan Financial. Chelsea explains how eligible employer tax credits will fully reimburse employers for all qualifying sick and child-care leave payments mandated under the Families First Coronavirus Response Act by REDUCING PAYROLL TAXES owed to the IRS.

*Employers will be entitled to an ADDITIONAL CREDIT for the cost of MAINTAINING HEALTH INSURANCE COVERAGE!*

– Employers will be able to file for accelerated payments to refund employers for qualifying leave payments in excess of federal payroll taxes owed.

– Small businesses will be eligible for an exemption to the mandated sick and leave payments if they demonstrate that payment of child-care leave under the Act threatens the viability of their business.

– Enforcement actions will be delayed by thirty days for employers that act reasonably and in good faith to comply with the Act.

*Note: Information is changing daily, please check with Dept of Labor and/or an employment attorney for exact information*



CARES Act FAQs from Congress Woman Carolyn B. Maloney

Carolyn_Maloney_official_photo

Carolyn B. Maloney

On Monday, Inspector General Michael Horowitz took a strong first step toward implementing the oversight requirements included in the Coronavirus Aid, Relief, and Economic Security (CARES) Act by quickly appointing a Chair for the Pandemic Response Accountability Committee (PRAC). This committee was created by one of the provisions Carolyn B. Maloney offered to the CARES Act as Chairwoman of the Committee on Oversight and Reform.

Maloney’s office created this FAQ sheet for small businesses and nonprofits to help you navigate some of these new resources.