The COVID-19 pandemic is a fluid situation and we are trying our best to keep our clients informed as new information is released.

GUIDES:

ADVISE YOUR EMPLOYEES TO FILE FOR UNEMPLOYMENT DURING A SHUT DOWN

Currently all MA Unemployment Career Centers and Unemployment Walk-in Centers are closed and Claimants are urged to file unemployment claims online.  (Attached are two brochures to help with applying for MA Unemployment.)

Other resources that may help you and your employees understand MA unemployment are below:

MASSACHUSETTS COVID-19 UNEMPLOYMENT INFO

Important employer and employee information related to COVID-19.

https://www.mass.gov/info-details/massachusetts-covid-19-unemployment-information#important-employer-and-employee-information-related-to-covid-19-

HOW MA UNEMPLOYMENT BENEFITS ARE DETERMINED

MA Unemployment benefits are approximately 50% of your weekly wage, up to the maximum of $823 per week (as of Oct 2019.)  Here is a link to a more detailed explanation and a calculator.  https://www.mass.gov/info-details/how-your-unemployment-benefits-are-determined

S-CORP OWNERS WHO ARE PAID CAN APPLY FOR UNEMPLOYMENT

As an S-Corp owner you are an employee of the company.  As long as you have been taking a salary you can apply for unemployment.  If you have enough money to pay your bills for the next few months then it probably doesn’t make sense to collect unemployment just to have your practice pay it back later.  Although you can think of it as an interest free loan and may want to apply.  If it turns out that unemployment taken now doesn’t need to be repaid, then that’s a different situation.  Nothing has been finalized by Congress yet as of today.

EMPLOYEE PAYROLL DEDUCTIONS (i.e. Health Insurance)

To get payroll deductions from employees when they are not paid you can:

  1. Speak with your insurance agent to see if there’s a way for employees to send their portion directly to the insurance company (maybe online).
  2. Have the employees send you the payment on a regular basis.
  3. Double up payments when employees return to work.

 COVID-19 SMALL BUSINESS RECOVERY LOAN FUND

You may consider applying for the COVID-19 Small Business Recovery Loan Fund while they are offering access to  money.  You can always pay it back when things return to normal if you don’t need to use those funds.

https://www.empoweringsmallbusiness.org/