The Longfellow Community Council is pleased to provide support to small businesses in the greater Longfellow area through $1,500 - $2,500 grants. The Civil Uprising grants are made possible by a generous donation from Comcast ($25,000), and the Covid-19 Support grants ($15,000) are funded through LCC's Rebuild Longfellow fund. Read more here to learn about eligibility. And Apply Now - funds are limited!
Thursday, January 21 from 1-2 PM Join the Women's Business Alliance and SBA Minnesota Deputy District Director, Twila Kennedy, for a comprehensive overview of PPP program updates and emergency relief programs. The webinar will include designated time for participants to ask questions about state and federal relief programs. Register Here
Many organizations have made diversity in hiring a priority over the last few years, and yet Minnesota still has disparities in opportunities for people of color. These disparities are evident for interns in STEM fields as well. This webinar provides a safe space for people to have a real conversation about Diversity, Equity and Inclusion (DEI), a chance to get their questions answered, and get ideas for how to move their companies forward.
Tuesday, Jan. 26, 11 AM
Register now for this free webinar
Webinar ID: 496-582-571
This event is presented by the SciTech Internship Program, which seeks to build and retain Minnesota’s STEM workforce and increase the number of women and students of color hired as interns. The webinar is free and open to current and prospective SciTech employers as well as anyone who wants to learn more about DEI for their organization.
More about the SciTech Internship Program:
Expect 1099-G forms if you received government covid relief. Government Covid relief grants, with the exception of PPP, will be reportable as "other income" on your taxes. Many of you file your business taxes on a schedule C (on your personal income taxes) or are S-Corps (where the businesses income or losses transfer over onto your personal income tax statements). Unemployment income is also reported as "other income" on your personal tax return. Avoid surprising tax bills by taking a look at your business profit or loss and the amount of unemployment and wages you received. You can reduce your business income if you need to by paying some bills in 2020.
For those of you who have been paper filing forms like quarterly 941s, please be aware that the IRS is under an enormous backlog of paper filings. Many employee retention credits claimed for Q2 on paper are just now being mailed out. If you paper filed, you may receive late filing notices because of the IRS backlog. My feeling is that the IRS will eventually sort this out and you will receive another notice that you were not late, but I will be available after the new year to help businesses with these issues.
A little-noticed provision of the CARES act allows filers who use the standard deduction (that's most of us/ people who do not itemize on their personal taxes) to deduct up to $300 in donations to charity on your personal taxes, directly reducing your income.
Hennepin County is giving away grants of up to $15k, to eligible businesses, sole proprietorships, and nonprofits. These are grant funds that do not require repayment. First-time applicants are prioritized, but all businesses are eligible to apply, regardless of whether you’ve received previous grants from Hennepin County. For more information on eligibility, see their page here. Feel free to reach out to me if you have any additional questions.
*Note: Businesses that applied to Hennepin County’s Small Business Relief Fund round for restaurants, bars, gyms and entertainment venues (Round 4) that closed on December 1 will be automatically considered for funding and do not need to re-apply.*
Applications are due by noon on Thursday, January 14th.
Check out a few additional trainings from our partners that you can take advantage of: