COVID-19 Resource Links and Information
Under Governor Newsom’s COVID-19 Executive Order N-33-20 effective March 19, 2020, for the protection of our clients and employees, please note that our physical office in Irvine is temporarily closed until further notice.
Wright Ford Young & Co. has adopted a remote working environment and is fully prepared to serve our clients virtually. Our entire team has successfully transitioned to work remotely and can be contacted by either e-mail or phone. As we continue to monitor the situation, you can be assured our dedication and commitment to our clients and community remains the same. We understand that our clients depend on us and we are dedicated to helping you during this challenging time.
Wright Ford Young & Co. wants to assure our clients, families, and communities have access to the tools and resources needed during COVID-19. We have inserted multiple links below for different resources that could help you and your situation.
- Our WFY Tax Partner, Richard Huffman, created an informative 15-minute video presentation on April 23 to illustrate the updated benefits that businesses may qualify for under the CARES Act. Included are the Paycheck Protection Program Loans, Employee Retention Credit, and deferral and income tax benefits. Some of the tax benefits that Richard discusses are not commonly known and may add value to further reducing a business’ tax liability, increasing liquidity and unlocking additional cash flow. You can access the video Here
- On May 13, SBA issued updated guidance on the SBA providing “safe harbor” on borrowers’ needs test for the PPP loan to allow safely returning the funds without any further ramifications. For an updated PPP FAQ document from the SBA, please click here.
- The federal filing and payment deadline has been extended from April 15th, 2020 to July 15th, 2020. For information on the new tax filing and payment deadline for each state, click here.
- For information on the Senate’s Coronavirus Aid, Relief, and Economic Security (CARES) Act and what key details to know including various loan programs, click here. To access the IRS’s Economic Impact Payment website to check the status of your stimulus payment, confirm payment type, and update any information, click here.
- For more information on SBA’s Economic Injury Disaster Loan Program during COVID-19 and to see if your business qualifies, click here. To apply directly for the loan program, click here.
- For a direct link to a one-stop shop for resources for California like getting help for small businesses or applying for unemployment, click here.
- For a direct link to the CA Department of Tax and Fee Administration to get information on the CA Sales Tax Relief and Extensions State of Emergency Assistance, click here.
- For an informational guide produced by the US Senate on the small business related finance programs, click here.
- For a Small Business Emergency Loans Guide and Checklist from the US Chamber of Commerce, click here.
- For a video overview of the California Restaurant Association’s recent actions in asking the Governor and state lawmakers for comprehensive relief for independent restaurants, click here.