On March 26th, weekly unemployment claims reached a record 3.28 million; the previous record, set in 1982, was 695,000.1

To support the economy and provide economic stability during the crisis, Congress passed the Families First Coronavirus Response Act and the Coronavirus Aid Relief and Economic Security (CARES) Act.


On Tuesday, March 31st we held a webinar with corporate, tax, and labor attorneys from Howard & Howard in Michigan, and we discussed what employers and business owners need to know about these bills.

Specifically, we covered:

  • Paid leave mandates
  • Federal tax credits
  • Human Resource preparedness (screening questions and what to do if employees test positive)
  • State, Federal, and Small Business Administration loans
  • Other Covid-19 relief such as grants, low interest and forgivable loans, and postponed tax payments

 

about the presenter Thomas Kessel

Tom is one of the Financial Life Advisors at Telemus and is responsible for managing some of the firm’s entrepreneurial-based relationships. Tom has more than 35 years of experience supporting the needs of privately-held businesses and their owners. He is constantly pursuing ways to add value to his clients by leveraging the resources of our firm and his network.

 

about the presenter Regina Staudacher

Gina is an attorney at Howard & Howard, a law firm in Michigan that specializes in providing counsel to business owners. Gina’s practice concentrates on the areas of strategic tax planning and dispute resolution for companies with global operations and multistate activities, including the IRS and various state taxing agencies.

 

about the presenter Megan J. Parpart

Megan is an attorney at Howard & Howard, where her practice focuses on both individual and business taxation. Prior to joining Howard & Howard, Megan focused her practice on corporate and pass-through entity taxation as well as large, multinational mergers and acquisitions.

 

about the presenter Daniel Villaire

Dan is a labor and employment attorney at Howard & Howard. Dan works with employers to keep their policies and procedures current with applicable laws and to develop effective strategies to help employers avoid litigation.

 

about the presenter Emily E. Bennett

Emily is a litigator and counselor at Howard & Howard. An active member of the firm’s trial teams, Emily’s experience includes litigating complex commercial disputes in state and federal courts nationwide, representing clients in arbitrations, defending class actions, and advocating for employers in a broad range of employment disputes.

 

about the presenter Andrew Bass, CPA, CWM, PFS

Andrew is the Chief Wealth Officer at Telemus, where he has been a member of the team since its inception in 2005. Andrew is responsible for all strategic financial and life management services, and he works with HNW members to ensure their financial life plans are designed to achieve realistic goals in both the short- and long-term.

 


1CNN, Unemployment claims soared to 3.3 million last week, most in history.

PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. This commentary is a matter of opinion and is for informational purposes only. It is not intended as investment advice and does not address or account for individual investor circumstances. Investment decisions should always be made based on the client's specific financial needs, goals and objectives, time horizon and risk tolerance. The statements contained herein are based solely upon the opinions of Telemus Capital, LLC. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Information was obtained from third party sources, which we believe to be reliable, but not guaranteed.

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