A message from Bruce Zicari, Chief Executive Officer of The Bonadio Group.
At The Bonadio Group, we are taking concerns over COVID-19 extremely seriously and doing everything in our power to ensure the safety of our employees, colleagues, and clients. We are committed to keeping all of our stakeholders informed and aware and, as such, wanted to share information about how we’re handling this situation.
Our firm has a robust plan in place for continuing operations in the coming months without interruption, and we are confident in our ability to provide excellent client service while ensuring everyone remains healthy and safe. Like you, we are continuously monitoring the CDC’s developments regarding the spread and impact of the virus, as well as following the recommendations and requirements of local health departments in the regions in which we operate. Some of the actions we’ve taken to date include updating our travel and remote work policies, promoting healthy hygiene habits, and sharing helpful resources as applicable. These new policies will not impact our ability to service our clients or continue business operations.
If you have any questions about our policies or our plans, please contact firstname.lastname@example.org. Additionally, if we can be of any assistance to your business during this time of uncertainty, please let us know – we’ve had the privilege of serving as a trusted partner and advisor to many businesses and individuals for over 40 years, and we are happy to share our guidance and expertise to help others navigate these difficult circumstances.
As you know, the nature of this situation is rapidly changing and evolving, but we are committed to keeping our stakeholders updated in a timely and concise manner. I’m incredibly proud to be a part of Bonadio’s outstanding team, and I know that we will get through this together.
Helping you when you need it most
As we continue to navigate the COVID-19 pandemic, we want to provide our clients and colleagues with resources and information to help businesses, organizations, and individuals deal with these challenging times. We will continue to update this page with additional content as applicable.
SBA Disaster Loans
The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans for working capital to small businesses and non-profit organizations who are suffering substantial economic injury as a result of COVID-19.
Some important details:
- Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
- These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
- The interest rate is 3.75% for small businesses and 2.75% for non-profits.
You can read more here: https://www.sba.gov/disaster-assistance/coronavirus-covid-19#section-header-1.
Federal Tax Updates
The IRS website has provided a special section focused on steps to help individual and business taxpayers. See here for more information: https://www.irs.gov/coronavirus.
NYS Tax Updates
The NYS website has provided a special section that addresses concerns about tax matters and filing deadlines relating to the COVID-19. See here for more information: https://www.tax.ny.gov/press/alerts/nys-tax-response-to-covid-19.htm.
Outsource Accounting & Finance
The rapid spread of COVID-19 is having an impact on many small businesses and non-profit organizations that are faced with a temporary decline in revenues and challenges managing their back-office accounting operations. Bonadio’s Outsource Accounting & Finance team may be able to assist. Learn more here: https://www.bonadio.com/our-services/bonadio-outsource-accounting.
The information and advice we are providing for this matter relates to COVID-19 legislative relief measures. Because legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that could modify some of the advice and information provided to you, after the conclusion of our engagement. We therefore make no warranties, expressed or implied, on the services provided hereunder.