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Everything Restaurants Have Ever Wanted to Know About the Paycheck Protection Program (PPP)

Modern Restaurant Management

Other than healthcare, the industry most impacted by the coronavirus pandemic is the hospitality and food services industry. Will the loan be forgivable if the proceeds are used to pay franchise fees, property taxes, or insurance? For what purposes can a restaurant use the PPP funds?

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Surviving COVID-19: 7 Financing Options for Restaurants

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Recommended Reading: How to Reduce Restaurant Expenses & Stay Profitable During COVID-19 US Federal Government Financial Relief Programs The CARES Act has several components offering financial assistance to small businesses in the US, but none are more popular than the Paycheck Protection Program (PPP). Check your governor's website.

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What Now? COVID-19 Survival Guide for Restaurants

Modern Restaurant Management

For months to come, they will need help accessing government benefits and mental health services, paying their rent, and feeding their families. ” To support first responders, Uber Eats has pledged 300,000+ free meals to be delivered to healthcare workers and other relief efforts in coordination with local and state governments.

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Ultimate Restaurant Payroll Guide 2023

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Health insurance plan opt-in forms. Federal Insurance Contributions Act (FICA) taxes: FICA is the tax levied on employers to pay Social Security and Medicare. This money helps fund these programs, which help people in need of retirement healthcare or other assistance. Forms for any retirement savings plans, such as a 401(k).

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Tyga Bites and Sushi with an Attitude

Modern Restaurant Management

In recent months, they have been advising clients on issues ranging from Paycheck Protection Program (PPP) loans to reducing and rehiring employees to recovering losses from insurance companies and renegotiating leases. Selvin (insurance and business interruption) and Elliot N. Other members of the new practice include: Randy S.

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How Do Employee Benefits Work? | A Guide For Managers

Sling

For example, if Business A offers a competitive wage while Business B offers the same competitive wage as well as medical insurance, most job seekers will choose Business B because they receive something more than just a wage for their efforts. Life insurance. Mandatory Benefits. Minimum Wage. Overtime Pay. Workers’ Comp.

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What Is a Human Resource Management System (HRMS)?

Sling

They can also help you stay compliant with government mandates, such as overtime and healthcare. For example, many HRMSs offer self-service capabilities, such as access to time cards, team schedules, task lists, and even essential forms , like the W-4, W-2, and others.