Wiltz Law

05/24/2020

Hey big shout out to Quick Mixx Rick, world class DJ and all the DJs who support local artists and businesses, I was a Dallas artist too

03/29/2020

The 8th and 9th deaths from COVID-19 are being reported as a DeSoto man in his 50s and a Dallas man in his 70s.

03/29/2020

Key Updates

Unemployment insurance provisions now include an additional $600 per week payment to each recipient for up to four months, and extend UI benefits to self-employed workers, independent contractors, and those with limited work history. The federal government will provide temporary full funding of the first week of regular unemployment for states with no waiting period and extend UI benefits for an additional 13 weeks through December 31, 2020 after state UI benefits end.

03/29/2020

NPR interviewed four residents of Wuhan who contracted the virus, recovered — but then had a retest that turned positive. What does that mean for China's recovery from COVID-19?

03/29/2020

https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

03/28/2020

34 Law Firms in 30 Cities Across U.S. Will Offer Remote Legal Clinics to Advise Small Business Owners on Stimulus Bill Benefits and Coronavirus-Related Legal Issues

03/28/2020

After a wreck send Attorney Van Wiltz the Wolf call 214-214-WOLF

03/26/2020

For business owners

03/26/2020

Here's a few bullet points I've prepared on the stimulus bill w/r/t payroll and loan forgiveness:

• Under the bill, the Small Business Administration would provide the loans through its existing 7(a) program in amounts equal to two and a half months of payroll, with a maximum of $10 million. As long as the borrower uses the loan to cover payroll, interest on debt, rent or utilities, the loans would be forgiven.

• Borrowers making a good-faith statement are presumed eligible for the loans, which are limited to companies that have seen their business dry up or stop completely due to COVID-19.

• Interest on the loans would be capped at 4 percent and only the principal of the loans would be forgivable. If a firm cuts workers or reduces their pay, the amount forgivable would be reduced proportionately.

• Forgiven debt is usually treated as income for tax purposes, but that would not apply to loans under this program, thereby keeping participating companies from being saddled with a larger tax bill next year

• No personal guarantee required for entities, and the loans are non recourse

• Loans are unsecured

• To qualify for forgiveness at the end, you'd have to submit records of payroll tax filings, or payment of other covered expenses

This is just my summary prepared by reading the bill and an article that did a decent job with the highlights. Do your own research, obviously!

Link to bill

03/20/2020

In place until April 3rd

03/14/2020

https://www.bloomberg.com/news/articles/2020-03-12/coronavirus-can-live-in-patients-for-five-weeks-after-contagion?utm_source=facebook&utm_campaign=socialflow-organic&utm_medium=social&cmpid=socialflow-facebook-business&utm_content=business

Patients with the new coronavirus keep the pathogen in their respiratory tract for as long as 37 days, a new study found, suggesting they could remain infectious for many weeks.

10/15/2019