COVID-19 RESOURCES FOR FITNESS BUSINESSES

We are working up to keep this page updated daily. We aim to cover everything you need to know in terms of taxes, loans, rent, memberships, cash flow & more as it pertains to the COVID-19 crisis.

WHAT'S HAPPENED SO FAR?

A timeline of key events within the fitness industry.
The Fitness CPA Recommends Fitness Business Close
Tenants Begin Rent Relief
CARES Act Signed Into Law
Shelter In Place Begins For 30 States
March 17, 2020:Based on CDC social distancing guidelines, The Fitness CPA recommends that all fitness facilities temporarily close. Read recommendation.
March 24, 2020 Tenants Begin April Rent Relief Requests
March 27, 2020 – Coronavirus Aid, Relief and Economic Security (CARES) Act signed into law.
March 31, 2020 – 30 states have ordered shelter in place and closure of many non-essential businesses.

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INDUSTRY UPDATES

Here are more resources we recommend checking out.
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COVID-19 Government and Financial Resources

  • Up-To-Date announcements from the US Treasury about economic helps such as the CARES Act and Stimulus programs

    The Treasury Department is supporting American workers and businesses who are impacted by the coronavirus. Read more here. 
  • Club Industry Weekly On-Demand Town Halls and Master Class Webinars: 1 hour of jam packed content

    Club Industry is the nation’s leading resource for gyms and fitness clubs.  They’ve had weekly townhalls addressing very specific Coronavirus topics and how to handle them at your facility.  Read more here. 

    Topics include:
    Part 1. Topics: billing, staffing and member retention.
    Part 2. Topics: preventing spread of the COVID-19 at your gym, virtual training options, marketing efforts.
    How Suppliers Are Helping Health Clubs Through the Coronavirus Crisis

    Being Proactive During the Coronavirus Crisis Shutdown​​​​​ 

    How to Engage Members with Virtual Solutions During the Coronavirus Shutdown  –

  • Up-To-Date IRS.gov Coronavirus Tax Relief page

    The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page will be updated as new information is available. Read more here. 
  • Employee Retention Credit from IRS.gov

    WASHINGTON – The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. Read more here. 
  • US Senate COVID-19 Small Business Relief Q&A

  • Quick Senate Overview: The Coronavirus Aid, Relief, and Economic Security (CARES) Act

    Supporting Small Businesses: The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides relief for small businesses that have trouble covering payroll and operating expenses because of the COVID-19 pandemic. This link is a brief overview of the key pieces of legislation Read more here.

  • SBA Economic Injury Disaster Loan & Emergency Grant (EIDL) Grant Overview from US Senate

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act temporarily expands eligibility for SBA economic injury disaster loans (EIDL) and provides an emergency advance of up to $10,000 to small businesses and private non-profits harmed by COVID-19 within 3 days of applying for an SBA Economic Injury Disaster Loan (EIDL). For more from the US Senate Read more here.
  • Employee Retention Tax Credit US Senate Overview

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act creates a refundable payroll tax credit for businesses (large and small) and non-profits that retain their employees during the COVID-19 crisis.  The tax credit is equal to 50% of wages and compensation.  There is an overall limit on wages per employee of $10,000.  The credit is provided through December 31, 2020. Read more here.
  • SBA 7(a) Paycheck Protection Program Loan FAQ by Trusted Lender

    ApplePie Capital is proud to help small businesses quickly access the capital they need through this program. The information in the FAQs below is derived from a number of government issued reports, however exact details on eligibility, application and process will not be finalized until the SBA issues official guidance, which we understand should be later this week. Read more here.

  • Deloitte COVID-19 Stimulus: A Taxpayer Guide

    Congress has approved and President Trump has signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a massive tax-and-spending package intended to provide additional economic relief to address the impact of the COVID-19 pandemic. The CARES Act became law on March 27, 2020. Download here.
  • Should I Take the PPP or the ERTC?

    All You Wanted To Know About Maximizing Your Tax Credits through the CARES Act. Read more here.
  • Employee Retention Tax Credit

    All You Wanted To Know About The Employee Retention Tax Credit. Read more here.

  • Payroll Protection Program

    All You Wanted To Know About The Payroll Protection Program. Read more here.

  • EIDL Loans

    All You Wanted To Know About EIDLs (Economic Injury Disaster Loans). Read more here.

  • MP COVID-19 Resource Page

    Get Important Information Now: As new updates emerge and laws are passed, check back here regularly. Read more here. 
  • Unemployment Benefits Finder (for individuals)

    COVID-19 (Coronavirus) update: New federal law provides unemployment benefits for self-employed and other workers, adds an additional $600 to weekly benefits, and offers other benefits that you can read about in these FAQs about unemployment insurance or the complete guidance from the U.S. Department of Labor. For more information read here.
  • IRS Families First Coronavirus Response Act Q&A

    The Families First Coronavirus Response Act (the “FFCRA”), signed by President Trump on March 18, 2020, provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to COVID-19. Read more here.
  • Your $1,200 Economic Impact Payments (aka: Stimulus Check)

    WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment. Read more here. 
  • Department of Labor Families First Coronavirus Response Act: Labor Poster Requirement

    The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave and expanded family and medical leave for specified reasons related to COVID-19. These provisions will apply from April 1, 2020 through December 31, 2020. Read more here. 
  • Department of Labor Families First Coronavirus Response Act: Questions and Answers

    As provided under the legislation, the U.S. Department of Labor will be issuing implementing regulations. Additionally, as warranted, the Department will continue to provide compliance assistance to employers and employees on their responsibilities and rights under the FFCRA. Read more here.
  • U.S. Department of Treasury – Assistance for Small Business

    The Paycheck Protection Program is providing small businesses with the resources they need to maintain their payroll, hire back employees who may have been laid off, and cover applicable overhead. Read more here. 
  • Paycheck Protection Program (PPP) Application

  • SBA Funding Options

    Coronavirus Relief Options: We’re here to help you overcome the challenges created by this health crisis. We offer multiple funding options for those seeking relief. Read more here.
  • US Treasury PPP FAQ

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