Author Archives: Jay Butchko
Should You Return Your Paycheck Protection Program Loan Money?
The Paycheck Protection Program, a provision of the CARES Act designed to grant relief to small businesses, has turned out to be anything but pennies from heaven. No one was surprised that the first round of funding disappeared so quickly, since the restrictions on commercial activities were so severe that virtually every small business… Read More »
The Paycheck Protection Program: Not Just for Payroll Anymore?
To say the least, the Paycheck Protection Program, a provision of the CARES Act designed specifically to help small business owners keep workers employed, did not grant small business owners’ every wish or solve all their problems. The fact that the loan money enables business owners to keep paying their employees has protected many… Read More »
What Should You Do If People and Businesses That Owe You Money Declare Bankruptcy Because of the COVID-19 Pandemic?
When unemployment claims rise dramatically, bankruptcy filings soon follow. You probably do not want to think about the possibility of your business filing for bankruptcy, and there is a chance that you will not have to. Most likely, though, the new wave of bankruptcy filings will be big enough that you will notice it… Read More »
Good Enough Quick Fixes to Keep Your Business Financially Solvent Until Next Month
The DC area has yet to see the downward trend in new COVID-19 cases that the governments of Maryland and DC need to see before they can lift the stay-at-home orders, but the live updates from the Washington Post make it clear that reopening the DMV region is on everyone’s minds. LaQuandra Nesbitt of… Read More »
The Paycheck Protection Program Is a Lifeline, but Not a Panacea
Right now in America, almost everyone is glued to a screen. Toddlers click on candy-colored YouTube videos while their telecommuting parents attempt to get some work done. College students watch their professors drone on in a small corner of the computer screen, which is mostly taken up by PowerPoint slides. In the evening, almost… Read More »
You Might Be Eligible for the Paycheck Protection Program, but Be Sure to Read the Fine Print
The news updates about the COVID-19 pandemic focus more and more on reopening, but right now most small business owners in the Washington DC area are waiting anxiously to see what happens next. Deciding when to reopen is a difficult task, indeed, unless you have superhuman ability to predict the future. Almost any course… Read More »
If You Were Lucky Enough to Get a PPP Loan, You Could Be in for an Unpleasant Surprise at Tax Time
The Coronavirus Aid, Recovery, and Economic Security (CARES) Act of 2020 contains many sources of emergency funding for individuals and small businesses to help them survive the economic disruptions caused by the COVID-19 pandemic. As with almost any source of funding for businesses, the money you can access through the CARES Act does not… Read More »
The Future of Small Stores in Big Malls Hangs in the Balance
All small business owners are worried about the future these days, but the ones whose fate is closely tied to that of large corporations have a special set of worries all their own. With retail businesses first closed down to reduce loss of life and health in the COVID-19 pandemic, business owners hoped that… Read More »
Dispute Between Co-Owners of Consignment Shop Ends Up in Civil and Criminal Courts
Even among people who are generally cynical about capitalism, consignment shops are associated with innocence and good intentions. Their frequent customers are elegant grandmothers and frugal fashionistas. Consignment shops are where you go to get designer clothes without the commercialism. In a consignment shop, one would not expect to find the sort of ugliness… Read More »
Vaguely Worded Wills and Vaguely Defined Relationships Make for a Bad Estate Planning Strategy
If you are back on the dating scene in your golden years, you might be pleasantly surprised to find that late-in-life romance is refreshingly free of much of the drama that plagues young couples’ relationships. If you and your new sweetie are both retired and have grandchildren, you are automatically immune to the disputes… Read More »
