Lee J. Petros, Attorney at Law

Spread the word that we are still accepting orders for the #WeAreOrange yard sign project! All orders can be placed at this link, which is on our website: https...://form.jotform.com/201966992147164. If you have any difficulties, please email Susie at [email protected]. We love this project and our partnership with @orangehomegrown to spread cheer and serve our community. Don’t miss out! Pick up will take place after August 1st #weareorange #orangestrong #givewhereyoulive #staystrongorange #cityoforange #orangecounty #eatlocal #ocorganic #ocfarming See more

Look to the Sky History will come alive on Saturday, July 4, as the WWII era Willa Dean, a C-47 Skytrain and two Marchetti SF-260s fly over the City of Orange... in celebration of the birthday of our great nation, and to honor those who protect it. The aircraft will take-off from John Wayne Airport, and the flyover is expected above Orange around 2 pm. A detailed map of the flight path with times will be published as soon as it becomes available. This amazing aerial presentation is made possible by a collaboration between the Cities of Orange, Buena Park, and La Habra, and the support of our 2020 Orange Tree Community Partners, Chapman University, Ricci Realty, SC Fuels, Thompson Building Materials, and Wilson Automotive. We would like to thank the Lyon Air Museum and Air Combat USA for their contribution to this event.

Paycheck Protection Program (PPP) Update To all Small Business Owners: I was on a conference this morning regarding the PPP program. I wanted to provide everyone with the following information and steps to obtain relief from the PPP program:... Step 1: Calculate your payroll for a 12-month period and have your payroll documents ready; - Have 3 different time period ready (1/1/2019-12/31/2019; 2/15/2019-2/15/2020; and 3/1/2019-3/1/2020; - Any employees over $100,000.00 per year, reduce their number to $100,000.00; - Partner/Owner are also limited to $100,000.00 per year - 1099 payees should not be part of your payroll calculation. (1099 individuals will submit their own application Step 2: Assemble the following records: - Your payroll records using the three time periods above. Currently, there is a question as to which look back period they will be using, so assemble all 3 look back period reference above. - For owners, have your K-1 or Schedule C ready for the last two years. You might also want to have your P&L’s available as well for the same periods. - Owners should also have front and back copies of their Driver’s Licenses ready Step 3: Contact your financial institution to determine the timeline of the application process. Step 4: Forgiveness: - Use the funds for approved expenses as shown in the application; - A good practice will be to set up another account to the PPP funds - Document the payments for the PPP funds over an 8-week period; I will pass along more information as I receive it.

The Paycheck Protection Program is specifically designed to help small businesses keep their workforce employed. Visit SBA.gov/Coronavirus for more information on the Paycheck Protection Program. The new loan program will be available retroactive from Feb. 15, 2020, so employers can rehire their recently laid-off employees through June 30, 2020.

Wishing Everyone a Happy Thanksgiving!