Silvers Financial Services/Silvers Accountancy Corporation

Will you receive the $600 additional #Covid19 stimulus check, if you didn't receive the $1200? Maybe... https://www.marketwatch.com//i-didnt-receive-a-1200-stimul

Bank and escrow officers already know that cybercrime is the world's #1 crime. When wiring funds for a purchase, make sure that you confirm ANY banking or delivery changes via telephone. https://www.bloomberg.com/features/2020-perfect-art-heist/

CA AB 5 Workers' Comp Requirement Starts in July 1 Most CA employers must provide workers’ comp for independent contractors.* Use the simple ABC test to determine whether you will be required to provide coverage for any ICs: ... a) The worker is free from the control and direction of the hiring entity in connection with the performance of the work, both under the contract for the performance of the work and in fact; b) The worker performs work that is outside the usual course of the hiring entity’s business; and, c) The worker is customarily engaged in an independently established trade, occupation, or business of the same nature as that involved in the work performed. *Exemptions: Doctors, psychologists, dentists, podiatrists, insurance agents, stock brokers, lawyers, accountants, engineers, veterinarians, direct sellers, real estate agents, hairstylists and barbers, estheticians, commercial fishermen, marketing professionals, travel agents, graphic designers, grant writers, fine artists, enrolled agents, payment processing agents, repossession agents and human resources administrators.

Stimulus checks are debit cards. Watch your mail! https://www.cnbc.com//dont-mistake-your-stimulus-payment-f

Question: When we reopen after business closure due to COVID-19, may we re-hire some employees, but not others? Answer: Yes. You don't want one of your former employees challenging your decision, so be sure to document what the criteria were to recall some positions but not others. This will be vital documentation if you have or will receive one of the SBA emergency or paycheck protection loans, and plan to ask for loan forgiveness. If you are recalling some employees in a certain position, but not all, then you should note the objective, job-related criteria you used to decide which employees to invite. Prior job performance or seniority, for example, are valid, defensible reasons.

Some of our clients are reporting having received the Emergency SBA business loan of $1000 per employee (with a $10,000 limit) due to Covid-19. Be aware that should you receive the Paycheck Protection Program loan from the SBA, that emergency cash will be deducted from your PPP funding.