Help available for small businesses By ROBERT A. DEFRANK Staff Writer ST. CLAIRSVILLE — The COVID-19 pandemic has taken a stiff toll on small businesses in the area, but with 2021 there comes a wide range of tools to recover and grow. “We all want to get what kind of help we can get to get through,” Bob Sabo, owner of Jenkins Sporting Goods said. “It’s been tough times for a lot of people.” Crystal Lorimor, executive director of the Belmont County Department of Development, said her agency is one that offers assistance. “We continue to work one-on-one with businesses,” she said, adding this includes advising and helping business owners gain access to resources and experts that can help them with all facets of a business. “We have received a (United States Department of Agriculture) grant where we can provide more assistance and resources to the businesses,” she said. “We’ve also started a revolving loan fund for them, and then as things
Small Business n Tools are available to help small businesses deal with ordinary or complex issues n Assistance ranges from business planning to financial advice n Lenders are expecting COVID considerations in a business plan from the government become available for grants and assistance in that matter, we sent that information to the businesses and share it to their Facebook page to otherwise get the word out.” Lorimor said her agency often acts as a hub, putting businesses in touch with other resources, as well as holding conversations about their needs and opportunities. “We have resources across the state,” she said, adding most meetings are virtual, but her agency offers clients the opportunity to come to her office so she can connect them to resources. Make them
understand what they need to do. Common issues include the need to update employee handbooks, consider different methods of marketing, often offering touch-free options. “Small businesses sometimes don’t have a tech person right there with them so they reach out to us and say ‘how do I do something,’ and we can help them.” Restaurants, for example, can use QR codes at tables instead of handing people menus, but they Photos by Robert A DeFrank need to update their webBob Sabo, owner of Jenkins Sporting Goods in St. Clairsville is one of many small sites or look for new revebusiness owners who have borne up under the COVID-19 pandemic. Multiple nue streams. resources are available to start of expand a business with an eye to the new rules (Please see HELP, Page 6) and expectations brought on by coronavirus.
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Ilona Carenbauer, left, and Katie Hedrick of Wheeling at Three Labs Salvage in St. Clairsville, one of the many businesses that has survived the COVID-19 pandemic.
Tax Concerns Run Rampant in Coronavirus Age By JOSELYN KING Staff Writer Americans received two rounds of economic stimulus checks in 2020, but they don't have to pay taxes on this money. They must, however, pay taxes on any extra unemployment benefits they received through the CARES Act last year. “I think a lot of people are going to get a surprise tax bill because some might not have had withholding on their unemployment benefits,” said Connie Blatt, tax accountant with Zeno, Pockl, Lillly and Copeland, “If you remember, during the coronavirus people were getting extra. These peo-
ple might get surprised. “People may not think unemployment income is taxable, but it is. I think that is going to be the big one this year, with so many people collecting unemployment.” The stimulus checks for $1,200 sent last summer, and for $600 approved in late December are considered non-taxable income, according to the IRS. The money neither increases the amount a taxpayer must pay, nor does it decrease the amount of the refund. That said, those who haven't yet received one or both of those payments might want to quickly make out their tax returns.
Taxes n Stimulus payments are not considered taxable income. n Those not yet receiving stimulus checks due them may choose to receive them as part of the income tax refund. n Those who received stimulus checks by accident need to return them.
The IRS is using the 2020 tax return to pay anyone who didn't get a second stimulus check before the Jan. 15 deadline through a Recovery Rebate Credit. The Recovery Rebate Credit may be claimed on line 30 of the 2020 tax return, according to the IRS. Those who do not file a tax return, but who have not yet received their stimulus payment — will need to file Form 1040 or Form 1040-SR to claim the Recovery Rebate Credit Those filing quicker are in a position to receive the money due them quicker. “It is actually like a pre-credit on your taxes,” Blatt said of the Recovery Rebate Credit. “If you didn’t get the stimulus check, there will be a place on your tax form to put it.” Those eligible for stimulus are single Americans with adjusted gross incomes of less than $87,000 annually, and couples reporting earnings less than $174,000. Families are eligible to receive an additional $600 per child under terms of the most recent stimulus, but each child must have their own Social Security number to
Photo by Joselyn King
The IRS is using the 2020 tax return to pay anyone who didn’t get a second stimulus check before the Jan. 15 deadline through a Recovery Rebate Credit. The Recovery Rebate Credit may be claimed on line 30 of the 2020 tax return, according to the IRS.
qualify. Older children who can be claimed on their parent's tax return won't receive a stimulus check of their own. This applies to high school and college students age 23 or younger who don't pay at least half
of their own expenses. People are responsible for returning any stimulus money received under certain circumstances, according to the IRS. Any checks received made out to some who died prior to Jan. 1 must be paid back.
If a recipient has an adjusted gross income that exceeds specified limits — such as $87,000 a year for a single taxpayer — they must return any stimulus money received. (Please see TAX, Page 7)