Non-critical staff terminationIf your business is negatively impacted by the coronavirus crisis and you are unable to pay employees, we still are recommending termination of non-critical staff. The fastest way to get money into the hands of idled employees you can't pay is to terminate them and have them apply for unemployment. NH unemployment is already up and running with a maximum payment of $432 per week, and this will shortly be supplemented by an additional maximum of $600 per week by the new federal program for 39 weeks.
Critical employee(s) should be retained as you will need these employees to help in the startup.
Emergency Paid LeavePlease also note that your employees will be able to take Emergency Paid Sick Leave for 10 days and Emergency Paid Family Medical Leave for 10 weeks that will be reimbursed by the Federal government. However, our research seems to indicate that you may not be able to use this credit if you have applied for a PPP loan (below). See below for more info. We are not a big fan of this particular relief (the Paid Leave) because of how complicated it is to comply.
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As a service to all our existing and new monthly Business Owner Package clients, we are offering a package fee starting at $2,400 (0 to 15 employees) for our monthly clients only that involves our helping determine your eligibility and what your Average Monthly Payroll costs are, along with helping you comply with the necessary documentation later to get the loan forgiveness.
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One way that we make ourselves different is that business owners must be qualified to be eligible for the Business Owners Package. To qualify, we go through our Free “Business Financial Confidence Map” process and worksheets.
We would be happy to meet with you at your office or ours to talk about how our flexible and affordable services can benefit your business. Please contact us today!