As another year comes to a close, we recommend finding time to reflect on 2021…
COVID-19 Update August 6, 2020
A big thanks to all that attended our webinar today put on by Delta staff members. If you’re weren’t able to tune in, the recording should be uploaded here in the next 24 hours.
This week, the Governor of LA extended Phase 2 until at least August 28th. Edwards stated “Louisiana is beginning to see the positive impact of the mask mandate in its COVID-19 data, including a decline in the number of people who are reporting to emergency rooms with COVID-like symptoms, decreasing new cases across the state and declining or plateauing hospitalizations in many regions of our state. Still, every single one of our 64 parishes has high COVID incidence.” For a state that makes a majority of its revenue in hospitality, we are all eager to move into the next phase. Please remain diligent and keep yourselves safe, we will get through this.
On August 4th, the Small Business Administration (SBA) announced some additional guidance for the Paycheck Protection Program (PPP) after consultation with the Department of Treasury. Some items that stood out include:
- Compensation limitation applies cumulatively across all businesses.
- Health Insurance and retirement plan expenses are not included in the compensation cap for owners-employees, but are subject to additional limitations.
- Guidance on calculations for reduction of loan forgiveness if the wages/salaries of an employee are reduced by more than 25%.
- A better definition of “transportation costs” that are allowable toward forgiveness.
Furthermore, COVID-19 related lawsuits are being filed with increasing frequency. If employers don’t keep up with evolving guidelines on wage and hour laws, leaves of absence, work-for-home arrangements, and bias prevention, these workplace Coronavirus-related workplace issues may lead to litigation. Establishing trusting relationships with your employees can help them feel more comfortable before things escalate. With Congress unable to reach a compromise, it is vital that you do everything in your power to keep up to date and let us know if Delta can help with compliance.