A highlight from FRCA and PPP Forgiveness with Dr. Gia Wiggins
Jia wiggins has lightened mass spirit by coming on the show again and but the top is camilo series. We're going to be talking about. Fm cr a ppp. What the heck those are until everything that we don't know absolutely true. Hey i'm karen i'm former. Cpa entrepreneur business consultant with big ideas. Welcome to cheers to business. Let's start at the very bottom foundation of what we're talking about. Okay so i'll start with the f. f. c. r. a. is the families first corona virus or sponsor act and it is that bid of legislation that we've all been very familiar with that would allow someone to take up to eighty hours. Are you having deja show when kevin. What's your lighter. Yeah so then we were explaining exactly what it was and how employers needed to be aware of it. Because and i stand firmly by what i said all the time ago. I think that was back in against that. Was maybe june may or june. But a what i said was employers need to be really careful into learn as much as they can because whether or not your employees are going to know that thing like the back of their hand and i promise you it's like i'm a profit exactly what i said you're genius annot every i have employers call all the time and they say okay. Well what about specifically must pose no because my employers. Tell me that you know are do this time off. They should get these eighty hours. And i was like toll jal. Did you listen to podcasts. Because they are very aware but the thing that's a really important about the f. f. cr a and all of the conditions within it because there are multiple conditions within it there is a segment you know for if you test positive for it. Or if there is a state mandated quarantine which we had here in the state of alabama And also if you have a medical condition that you need to quarantine by your physician and then there was another section on if you didn't have childcare because daycares of the schools were closed. all these wonderful things within it and it was two different ways right so if you feel on this group you had to pay him this much up to this much and they fell in the other grape you had to pay him up to a different amount correct and so it was full. Time versus part time than there was also A piece about if it was just because you needed care for your children but the thing. That is very important for everybody to understand. Is that it sunsets on december thirty first of this year and there is nothing that's come behind to Extended at this point so here. On december the seven two thousand and twenty it expires on december thirty first unless something else comes up and you know they approve it or extended but right now there are no more out eighty hours of pay the you will get the credit for after december thirty or so if somebody gets covered in january and they're not all ready salary and you have a program in place you don't have to pay him at their hourly correct nothing over then having you know. Pto or vacation or sick time. No as of right now. James thirty i. I've just been diagnosed with covid. The question the answer you have is will do you have any. Pto of a case in our time. Yeah and you can't pick and choose either. That's discrimination. you can't pay set. Tell one you'll pay him in the not pay the next. Thank you for saying that. You can't pay the person that you really liked but that person over there you wanna farm anyways so we're not going to give them anything or my favorite. I'm not gonna pay my outside maintenance people. But i'll pay the office people. Yes oh my god. That's all another podcast. Which is the different level of discrimination. Exactly now another thing. People need to look back especially people who prepare their own payroll or their accounts Prepare their payroll tax. Return called after the fact. You know. if you don't have a payroll company payroll you need to double check to make sure if you had to pay people that fail in that room of the f. f. r. c. r. a. I can't even get right. They game with the dice. Do marai f f. cra make sure you've gotten tax credits that you were entitled to for paying that money because the payroll systems the big elaborate ones can keep up with it. But the others can't write it has to be needs to be coded correctly and one of the things that i've always told people. Make sure that if someone has taken that time off then you needed to specify that on your time off requests exactly what was four and you didn't have to pay the entire eighty hours. It's up to eighty hours. I think we need to highlight bold flashing. It was up to eighty hours. So if someone didn't need that entire time or they they were no longer a positive and they could return to work. You didn't have to pay. Maybe you only needed to pay the forty hours. Coincidentally after it's over you don't give them another eighty hours. I mean that was. That was the time so just very important to make sure that you know tate what was supposed to be corona virus related.