Answer the re-opening plan question. The Circumstances Client = Jackson Bergman, LLP S Corp (Two partners and 7 employees) – we will need to do layoffs Partners – paycheck plus monthly draws Office has to shut down, courts are closed Nature of the services: Criminal Defense, Matrimonial, Family Law Average Monthly Payroll: $48,000 Average monthly cost of rent/utilities: $3,000 Gross receipts in all 4 quarters of 2020 were down more than 25% from 2019 Payroll Protection Program Should we apply ? Yes, this loan is completely forgivable if used according to guidelines and will provide pay to employees and owners who can not work during the pandemic lockdown. There are no collateral requirements or personal guarantees How much money can we get? First time applicants can receive up to 10 million dollars in aid, second time applicants can receive up to 2 million dollars. Loan amounts are based on previously documented payroll and other covered business costs Covered costs include payroll/employee compensation, continuation of health care benefits, utilities, commercial rent, and mortgage interest Jackson Bergman will be eligible to up to $120,000 (2.5x average monthly payroll) and in order to have it completely forgiven the proceeds must be spent on payroll plus health and retirement benefits, mortgage interest, interest on debt incurred before February 15, 2020, rent, and utilities No more than 25% can be forgiven if used on expenses other than payroll Can the business owners/partners be paid from the PPP monies? The regulations are silent on use of loan proceeds and loan forgiveness for staff and salary enhancements, because the owners of Jackson Bergman are paid on salary, they may increase salaries. As long as Jackson Bergman pays their staff 8 weeks of payroll and does not lay off staff or reduce compensation and spend no more than 25% of loan proceeds on allowable costs other than payroll the full value of the loan will be forgiven. However even if the terms of the program are not satisfied, the borrower will pay 1% interest for two years. Can the business owners/partners take the monthly draws and, if so, how much? Same as answer above New York Shared Work Program What is it ? The New York Shared Work Program is a program established such that employers are able to provide their trained employees the means to still retain work and avoid full unemployment by allowing employers the chance to manage business schedules, and make seasonal adjustments when the business experiences downturns. How does it work ? Mainly, the way in which this program works is that though the businesses may not necessarily be as profitable during downturns, which would typically result in many employees being laid off from work, this program enables employers to retain employees by making provision for partial Unemployment Insurance benefits while the employees work fewer hours. Is our business eligible ? Which and how many employees and eligible ? A minimum of 2 employees are required to be eligible for the program, and so with 7 employees in our business, we are eligible to Can we adjust the number of employees on the program once we start it ? The number of employees cannot be adjusted once the program is started. The program requirements state it clearly that additional employees cannot be employed, and so any adjustments would definitely tamper with the business’ eligibility for the program Can we adjust the number of hours once we start it ? Rent Forgiveness Do we have to pay rent ? Yes, rent must be paid. However, if the rent is a “financial burden”, meaning it is more than 30% of of gross income, one can qualify for government assistance. The New COVID Rental Assistance Program is an emergency rental assistance program that will help keep low-income families throughout New York in their homes. Can we be evicted ? The CDC is ordered a ban on evictions effective January 31, 2021 through March 31, 2021. This is meant as a way to prevent the further spread of COVID. Is there a forgiveness option or moratorium? CDC’s temporary eviction moratorium: Some residential evictions for nonpayment of rent can be paused through March 31, 2021 If the CARES Act applies: Cannot collect late fees or other charges solely because no rent was paid between March 27 and July 24, 2020 Cannot evict for not paying those fees If there is a moratorium, how long do we have to catch up? Originally it was a 120 day moratorium, but President Biden extended it to March 31 Low interest Business Loan Should we apply ? Yes, there are many options to choose from when looking for a low interest business loan Different types of lenders include Banks, Credit Unions, Crowdfunding, Friends, Mission-Driven Lenders, Small Business Administration, Angel Investors, Venture capitals Which lender should we use ? We recommend you use the Small Business Administration (SBA) which is a federal agency that helps small business owners gain access to capital The reasoning for this choice is their extremely low rates available like their current one mentioned early (The PPP) at 1% with the opportunity to be completely forgiven Weekly $600 unemployment checks How does it work? People who lose their jobs due to influenza pandemic will be able to pay all UIB beneficiaries $600 per week in addition to regular benefits during the benefit week from April 5, 2020 to July 26, 2020 Who is eligible? Individuals are eligible for the Pandemic Unemployment Assistance (PUA) if they do not qualify for regular UIB benefits (including self-employed workers and independent contractors), and cannot work because they: Are diagnosed COVID-19 or have COVID-19 symptoms and are seeking diagnosis; •Have a member of the household who is diagnosed with COVID-19; •Are providing care for a family or household member diagnosed with COVID-19; •Are the primary caregiver for a child whose school or care facility closed, due to COVID-19; •Are unable to reach their place of employment due to an imposed quarantine, or because advised by medical provider to self-quarantine, due to COVID-19; •Were scheduled to start new employment and cannot reach the workplace as direct result of COVID-19; •Became the major breadwinner because the head of household died from COVID-19; •Quit their job as a direct result of COVID-19; •Had their place of employment closed as a direct result of COVID-19; or •Meet any additional criteria specified by the U.S. Secretary of Labor. How long does it go for? PUA provides up to 39 weeks of unemployment benefits for persons impacted by COVID-19 and covers individuals who are self-employed, who otherwise would not qualify for regular unemployment compensation, or who have exhausted state benefits. An additional $600/week for weeks ending 4/5/2020 to 7/26/2020. An additional $300/week for weeks ending 1/3/2021 to 3/14/2021. President’s Executive Order What is it? An executive order is a way of issuing federal instructions used by the Federal President to govern the operation of the federal government in the United States. There are many sources of legal or constitutional basis for administrative orders. Who is eligible? An executive order is a signed, written, and published directive from the President of the US How long does it go for? Presidential executive orders, once issued, remain in force until they are canceled, revoked, adjudicated unlawful, or expire on their terms. At any time, the president may revoke, modify, or make exceptions from any executive order, whether the order was made by the current president or a predecessor. Should we do it? Is it a deferment or forgiveness? The payroll tax relief provided by the Executive Order is a deferral, not a tax holiday, and must be repaid. Re-Opening Plan What “Phase” does our business fall under and when can we re-open ? Can we have all of our employees back to work ? How does our office have to be set up ? What do we, individually, have to do while in office? Do we have to provide any support of supplies? Can we have clients into the office?

Mastering the Art of Online Learning: Your Guide to Acing Online Courses

Introduction

In recent years, the popularity of online courses has skyrocketed, offering learners the flexibility to acquire new skills and knowledge from the comfort of their homes. However, succeeding in online courses requires a different approach compared to traditional classroom settings. To help you make the most of your online learning experience, this article presents essential strategies and tips to ace your online courses.

1. Set Clear Goals and Plan Ahead

Before embarking on an online course, establish clear goals and objectives. Determine what you hope to achieve by the end of the course and break down your goals into manageable milestones. Create a study schedule that aligns with your other commitments, ensuring you allocate dedicated time for coursework, assignments, and revision.

2. Create a Productive Study Environment

Establishing a conducive study environment is crucial for online learning success. Find a quiet, well-lit space where you can concentrate without distractions. Remove any potential interruptions, such as notifications from social media or email. Organize your study materials and have a reliable internet connection to ensure seamless access to course materials.

3. Actively Engage in the Course

Active participation is key to mastering online courses. Engage with course materials, including videos, readings, and interactive components. Take comprehensive notes, highlighting key concepts and ideas. Participate in discussion boards, forums, and virtual meetings to interact with instructors and peers, fostering a sense of community and enhancing your understanding of the subject matter.

4. Manage Your Time Effectively

Online courses offer flexibility, but it’s essential to manage your time wisely to avoid falling behind. Create a detailed schedule, allocating specific time slots for coursework, assignments, and studying. Break down larger tasks into smaller, manageable segments to prevent procrastination. Prioritize tasks based on deadlines and dedicate focused time to each one, ensuring consistent progress throughout the course.

5. Develop Effective Communication Skills

Online courses often rely on written communication, making it crucial to hone your skills in this area. Be concise and clear in your written responses, paying attention to grammar and spelling. Actively participate in discussions, asking thoughtful questions and providing constructive feedback to your peers. Regularly check your course emails and notifications, ensuring you stay updated with any important announcements or changes.

6. Utilize Available Resources

Take full advantage of the resources provided by your online course platform and instructors. Familiarize yourself with the learning management system (LMS) and explore its features. Access supplementary materials, such as textbooks, lecture slides, and external resources recommended by instructors. Utilize online libraries, research databases, and tutorial services to deepen your understanding of the subject matter.

7. Stay Motivated and Engaged

Maintaining motivation throughout an online course can be challenging, particularly when faced with competing priorities or a lack of face-to-face interaction. Set short-term goals and reward yourself upon their completion. Connect with fellow learners through virtual study groups or online forums to foster a sense of camaraderie. Regularly remind yourself of the benefits and personal growth associated with completing the course successfully.

8. Seek Support and Clarification

Don’t hesitate to seek support or clarification when needed. Reach out to your instructors for guidance or clarification on course material. Utilize online discussion forums to ask questions or engage in collaborative problem-solving. Leverage the support services provided by your course platform or institution, such as technical support or academic advising.

Conclusion

Online courses present unique opportunities for self-paced learning and personal growth. By setting clear goals, creating a productive study environment, actively engaging with course materials, and managing your time effectively, you can maximize your chances of acing online courses. Remember to stay motivated, seek support when needed, and make the most of the available resources. Embrace the flexibility and adaptability of online learning to achieve your educational goals.