COVID-19 Resources Menu

Commercial Resources for COVID-19

Just as soon as the day our lives and businesses were disrupted by the current pandemic, the process to rebuild safer commercial spaces began. Each day brings new changes and as our offices, restaurants and stores now prepare to welcome back visitors, all properties must have new safety standards and practices in place. As a veteran management company with a hands-on approach, we have taken the steps to properly update our buildings to create a COVID safe environment. These include physical alterations, the addition of protective elements, new guidelines and signage reminding visitors of best practices. We are also continually monitoring the CDC recommendations regarding COVID19 and are working with our vendors to adhere to the highest industry cleaning standards.

Find the details of our property updates and recommendations in our COVID Safety Building Plan


St, Louis County Re-Opening Order and Occupant Loads

St. Louis County of Public Health Business Reopening Guidelines

Business Offices Operating Protocols


We are continuing to balance the requests of our tenants with the Landlord’s financial obligations. Those with business interruption insurance have hopefully found the support they need through a provider and others have found relief through other programs that were set up to aid small and mid-sized businesses and minimize the economic impact of the Coronavirus (COVID-19) pandemic. We have kept the resources below should you find the need for additional assistance. Your tenancy is greatly appreciated. Please stay safe, and we will get through this!



SBA

The U.S. Small Business Administration (SBA) Local Assistance Directory can connect you to several local partners to counsel, mentor and train small businesses. Additionally, SBA offers counseling and helps businesses navigate preparedness plans through a network of 68 district offices and resource partners located across the country. More information is available by contacting the SBA Disaster Assistance Customer Service Center, by calling 1-800-659-2955 (TTY: 1-800-877-8339), emailing disastercustomerservice@sba.gov or visiting SBA.gov/coronavirus.


The St. Louis Regional Chamber

The St. Louis Regional Chamber has produced the COVID-19 Regional Business Information Center, a clearinghouse for information that includes links to consulting and financial assistance, philanthropic and community groups, contact information for regional health authorities, information on tax services and disaster-related funds, and regional and national travel information updates. https://www.stlregionalchamber.com/covid-19


Help Other Small Business

Summary of Provisions

Disclaimer: The following information was provided to Sansone Group from its accounting firm. Sansone Group did not contribute to the content but thought it would be information beneficial for your review. Please speak to your own tax advisor if you have questions and before making any decisions regarding any information contained herein.

  • Missouri has published guidance that they will be following the federal relief provisions and also be extending the April 15th filing and payment deadline until July 15th.
  • On March 18, the President signed the Families First Coronavirus Act into law. As explained in this BKD Alert, the Act includes a variety of relief measures, including paid leave requirements certain employers (generally, those with fewer than 500 workers) must provide to employees affected by COVID-19, along with payroll tax credits to help subsidize this cost. On March 20, Treasury, the IRS and the Department of Labor announced plans to quickly release additional information to help employers begin to take advantage of these payroll tax credits in order to fund the required leave. This announcement can be found here. This is also a good time to reach out to your payroll provider to discuss the processes they may be putting in place to take advantage of these credits.
  • While the current situation has been challenging, the down economy and low interest rates do present various estate and gift planning opportunities (e.g., grantor retained annuity trusts, charitable lead annuity trusts, lifetime gifting considerations). A BKD Alert further discussing this topic is coming soon.
  • Congress has come to agreement on a third stimulus package, which is expected to be significantly larger than the previous two packages and quickly passed. Previously, a draft of the Coronavirus Aid, Relief, and Economic Secure Act (CARES Act) was introduced, which includes expanded funding options for businesses, direct assistance to certain industries and multiple provisions to assist taxpayers affected by the coronavirus. Our BKD Alert, The Draft Senate COVID-19 Bill Proposes Further Relief for individual Taxpayers & Businesses provides details but a few of the proposed tax provisions most likely to impact you include:

CARES Act Individual Provisions

  • Protections Program (PPP) authorizes up to $349 billion in forgivable loans to small businesses. The loan amounts will be forgiven as long as the loan proceeds are used to cover payroll costs, rent ,mortgage interest,
    & utility costs during the first 8 weeks after the loan is received.
  • 2020 estimated tax payments are postponed until October 15, 2020 and there is no cap on the amount postponed. Essentially, this means your first, second and third quarter estimates will not be due until October 15, 2020.
  • Eligible taxpayers will receive recovery checks of up to $1,200 ($2,400 for joint filers) and increased by $500 for every child. However, the recovery amount is completely phased out for taxpayers with adjusted gross income greater than $99,000 ($198,000 for joint filers).
  • Coronavirus-related distributions from qualified retirement accounts will be exempt from the 10% early withdrawal penalty for up to $100,000.
  • Taxpayers may deduct up to $300 of cash contributions to a qualified charity regardless of whether they itemize or take the standard deduction. In addition, the adjusted gross income limitation on charitable contributions for individuals who itemize is suspended for 2020.

CARES Act Business Provisions

  • 2020 estimated tax payments are postponed until October 15, 2020 and there is no cap on the amount postponed
  • Qualifying employers and self-employed individuals may defer payment of the employer share of Social Security tax. Half of the deferred employment tax is due by December 31, 2021 and the remaining half is due by December 31, 2022.
  • The 30% business interest limitation that was implemented under the Tax Cuts and Jobs Act (TCJA) is increased to 50% of adjusted taxable income for the 2019 and 2020 tax years.
  • The 10% of taxable income limitation on charitable contributions by corporations is increased to 25% for contributions made in calendar year 2020.
  • The 80% taxable income limitation on use of net operating loss (NOL) carryovers generated after December 31, 2017 is temporarily removed and NOLs generated in 2018, 2019, or 2020 may be carried back five years.
  • Corporations may monetize any remaining AMT credit carryforwards now instead gradually through 2021.
  • Qualified improvement property will be eligible for 100% bonus depreciation deduction (as originally intended by Congress under TCJA). Taxpayers can amend prior years returns for the correction to immediately write-off qualified improvement property placed in service in taxable years beginning after December 31, 2017.
  • Corrects an error related to the overpayment of the transition tax on untaxed foreign earnings payments and allows taxpayers to recover the overpayments made in error.

These are draft provisions and could change as Congress moves quickly to finalize the CARES act for COVID-19 relief.

INDIANA RESOURCES

SMALL BUSINESS RESOURCES

Indiana Small Business Development Center
The Indiana SBDC, which has 10 regional offices throughout the state, offers no-cost business advising for entrepreneurs and small businesses. Advisors are available to provide free advising and disaster relief loan application assistance for those impacted by the COVID-19 pandemic. For more information, visit isbdc.org/indianacovid19smallbusiness and contact your nearest regional office.

New Contracting Opportunities with FEMA
To combat the COVID-19 outbreak, the Trump Administration provided emergency support to the Federal Emergency Management Agency (FEMA) in order to assist eligible states with their disaster responses. If interested in supplying products or goods to aid in FEMA’s efforts, the Indiana PTAC offers free counseling and contracting assistance to Indiana small businesses. Click here for more information and visit indianaptac.com/locations to contact your nearest regional office.

Indy Chamber Offering Rapid Response Loans
The Indy Chamber created the Rapid Response Loan Fund through its Business Ownership Initiative (BOI) as an affordable option for loans ranging from $1,000 to $25,000. Loans can be used to pay employee salaries, insurance premiums or as a bridge loan until additional funding kicks in from a business bank or from the U.S. Small Business Administration. Click here to learn more.

ADDITIONAL RESOURCES

COVID-19 Inquiries
General questions from the public or health care provider inquiries may be directed to the ISDH COVID-19 Call Center at the toll-free number 877-826-0011 (available 24/7) or email epiresource@isdh.in.gov.

Unemployment Insurance
Those impacted by the pandemic and related closures can apply for unemployment insurance benefits electronically. To attend an unemployment insurance webinar, visit the Indiana Department of Workforce Development. For more information, or to file online, visit Unemployment.IN.gov.

Employee & Employer Support
The Central Indiana Corporate Partnership is posting the latest resources, from business to financial to utility assistance, provided by central Indiana corporate and civic organizations during this time.

Engage with the Business Community
Purdue University’s Manufacturing Extension Partnership launched a forum for manufacturing companies to engage, connect and share best practices on issues related to the COVID-19 outbreak.

Indiana’s Response
Visit Indiana State Department of Health for the latest information on tracking the COVID-19 pandemic in Indiana and on the state’s action and response.