Business News for September 22, 2020 |
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Today's message includes the following news and online courses:
- News and Updates
- Evers Extends Statewide Mask Mandate, Dane County Cases High
- Wisconsin State Laboratory of Hygiene COVID Consultation
- Create simple systems to keep your finances in check
- Does Your Business Have a Plan for the Future?
- Work-Study Program Can Help Provide Staffing for Businesses
- Upcoming Learning Opportunities:
- Navigating the New Normal COVID Response Workshop with WWBIC
- Coronavirus Tax Relief for Employers and Business Owners
- Tax Planning in an Uncertain Environment
- 2021 HR Trends: New World of Work
- Cash is King: Understanding Cash Flow During COVID and Beyond
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Evers Extends Statewide Mask Mandate
Dane County Cases High
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With COVID-19 cases increasing across the state, Governor Tony Evers has extended the statewide mask mandate, which was set to expire Monday, until November 21, 2020. As of last week, eight Wisconsin cities were among the top 20 for fastest-rising number of cases in the United States.
Additionally, Dane County cases are currently at the highest levels they have been, with an average of 170 new cases per day. Additional information on case counts can be found on Public Health's data dashboard.
Because of this high case count, Dane County Public Health would like to remind businesses that there are a variety of orders in place to reduce these numbers. Learn more details of the current Public Health Order, which details specifics for various industries.
Have questions for Dane County Public Health? E-mail them to receive help with the process, clarification on current policies, etc.
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Wisconsin State Laboratory of Hygiene COVID Consultation
WisCon Program Supports Businesses with COVID Safety
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Just as our Navigating the New Normal guide can help you plan your business response to COVID, the Wisconsin State Laboratory of Hygiene can assist you with your COVID-19 health response.
Services include:
- Developing a COVID Exposure Prevention, Preparedness, and Response Plan
- Helping identify potential administrative, engineering, and PPE controls related to COVID exposure in the workplace
- Conducting a job hazard analyses or workplace risk assessments pertaining to COVID
What can businesses expect from the service?
You will receive a service term agreement that spells out expectations. Then a consultant will determine if an onsite or virtual visit will be conducted. Prior to the visit, the consultant will review any COVID plans already in place to help identify deficiencies and will provide industry-specific guidance on best practices.
The consultant will take notes and rate the business using a COVID Report Card. Following the visit, you will receive a visit summary including details on recommended improvements. The consultant will be available to provide advice on how to make these improvements.
How do I request a consultation?
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Are Your Business Finances Sitting on the Back Burner?
Create simple systems to keep your finances in check
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With so many other functions of your business to manage - customer and employee health and safety, ideas for new or altered products and services, marketing - it can be easy to leave "organize business finances" on the back burner.
Yet organized finances not only bring peace of mind when it comes to tax time - they also can serve as some of your earliest indicators of how the business is doing and whether there are new trends you should give additional attention.
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Does Your Business Have a Plan for the Future?
How planning can impact your business' value
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This article from InBusiness Magazine highlights the importance of succession planning, especially when, in Madison, 50.42% of business owners are over the age of 55 and 20.64% of those owners have no documented transition plan.
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What if You Could Hire Staff at 25% Cost?
With the UW-Madison Work-Study Program, You Can!
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The Federal Work-Study program is a federally funded initiative that aims to bring employers and college students together to build impactful employment opportunities that benefit both the employer and student. In the past, this program has been reserved for on-campus and non-profit organizations, but has recently been expanded to small businesses in the surrounding Madison area.
Benefits of the program:
- 75% of the wages earned by eligible students will be covered by the program, leaving only the remaining 25% to be paid by your business (until the student’s award amount has been met)
- Increase your organization’s visibility and mentor the next generation of young professionals while providing relevant, part-time employment for UW-Madison students with financial need
Program Logistics: Learn more and verify your eligibility for this program by completing the Federal Work-Study partner eligibility questionnaire. If deemed eligible, you will be able to compensate UW-Madison student employees using funds provided by the FWS program.
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Upcoming Learning Opportunities |
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Coronavirus Tax Relief for Employers and Business Owners
September 24 (no cost)
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Join the SBA, IRS, and the USDOL WHD to discuss paid sick leave under the FFCRA and Coronavirus Tax Relief for Employers and Business Owners. During this webinar, you'll learn about the Employee Retention Credit, and Paid Sick Leave, and Paid Child Care Leave. Topics to be covered:
- Who is eligible to participate
- Who must provide paid leave, and for whom is it optional?
- How does the credit on employment taxes work?
- What are some pitfalls to avoid?
- Where can you learn more?
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Tax Planning in an Uncertain Environment
September 30
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Join tax experts Jenny Kramer and Drew Long on September 30 as they discuss tax planning in an uncertain environment, including:
- 2020 tax planning strategies (and beyond)
- CARES Act second chances such as QIP, interest expense limitations, NOL carrybacks and more
- Long-term tax planning strategies (depreciation strategies, income and deduction acceleration or deferral strategies)
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Cash is King: Understanding Cash Flow During COVID and Beyond
October 20, 2020 (no cost)
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Cash is the lifeforce of your business, and being able to control your cash flow is one significant way you can take some of the uncertainty out of running your business.
This free, interactive webinar is designed to provide you with a tool to help you forecast and plan your business cash flow, and the program instructor will walk you step-by-step how to use it. She will explain the process of forecasting and maximizing cash inflow and forecasting and minimizing cash outflow.
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Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the UW-Madison SBDC office at [email protected] or 608-263-2221 to request accommodations.
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