At this pivotal time, we need to make responsible decisions to help limit the spread of the Coronavirus (COVID-19) epidemic. Our hearts go out to each of the everyday heroes working tireless to protect our communities. Stay safe. Take care of each other. Be kind.Sincerely,TFS Properties, Inc.
For Businesses (from the U.S. Small Business Administration):
- Paycheck Protection Program
- Economic Injury Disaster Loans and Loan Advance
- SBA Debt Relief
- SBA Express Bridge Loans
- Guidance for Businesses and Employers
- SBA Products and Resources
- Government Contracting
- Local Assistance
30 Days To Slow The Spread Guidelines from the White House
White House Live Press Conference (Daily @ 5:00 EDT)
For Individuals (Taxes)
- Deadline to file and pay income taxes extended to July 15, 2020.
- $1200 stimulus checks to people making less than $75,000. Proportional until $95,000.
- In order to receive, 2019 or 2018 income taxes filed or social security for seniors who aren’t filing taxes anymore
- Qualified Improvement Property
- Updated 15-year accelerated depreciation schedule
- 27.5 years depreciation for residential (prior to CARES Act)
- 39 years depreciation commercial (prior to CARES Act)
- Carry back Loss benefits are back – allowed to carry back now up to 5 years ago. If you sold real estate or company 5 year sago that and had massive gain and now have a loss, you can file net operating loss (NOL) from 2018, 2019, & 2020 can be carried back 5 years
For Real Estate Professionals
- Residential Real Estate Now Listed as an Essential Service – California Association of Realtors
- Governor Newsom’s March 4, 2020 order now includes residential and commercial real estate including settlement services as essential services in California.
- However, if a city or county has an order with a more restrictive standard regarding what qualifies as an essential service, or more restrictions on activities, those guidelines will still govern the activities of a licensee.
- No open houses should be held.
- Showings should be done virtually, if at all possible.
March 25, 2020 – The White House and Senate leaders reach an agreement on a $2 trillion stimulus deal to offset the economic damage of coronavirus, producing one of the most expensive and far-reaching measures in the history of Congress
March 24, 2020 – Japan’s Prime Minister Shinzo Abe and International Olympic Committee (IOC) president Thomas Bach agree to postpone the Olympics until 2021 amid the outbreak.
March 19, 2020 – At a news conference, officials from China’s National Health Commission report no new locally transmitted coronavirus cases for the first time since the pandemic began.
March 18, 2020 – Trump signs into law a coronavirus relief package that includes provisions for free testing for Covid-19 and paid emergency leave.
March 13, 2020 – Trump declares a national emergency to free up $50 billion in federal resources to combat coronavirus.
March 11, 2020 – In an Oval Office address, Trump announces that he is restricting travel from Europe to the United States for 30 days in an attempt to slow the spread of coronavirus. The ban, which applies to the 26 countries in the Schengen Area, applies only to foreign nationals and not American citizens and permanent residents who’d be screened before entering the country.
March 11, 2020 – The WHO declares the novel coronavirus outbreak to be a pandemic. WHO says the outbreak is the first pandemic caused by a coronavirus.
March 3, 2020 – The Federal Reserve slashes interest rates by half a percentage point in an attempt to give the US economy a jolt in the face of concerns about the coronavirus outbreak. It is the first unscheduled, emergency rate cut since 2008, and it also marks the biggest one-time cut since then.
March 1, 2020 – Florida Gov. Ron DeSantis declares a public health emergency in the state of Florida. Over the next several days, Kentucky, New York, Maryland, Utah and Oregon declare states of emergency.
February 29, 2020 – A state health official announces that a patient infected with the novel coronavirus in Washington state has died, marking the first death due to the virus in the United States. Washington Gov. Jay Inslee declares a state of emergency, directing state agencies to use all resources necessary to respond to the outbreak.
February 4, 2020 – The Japanese Health Ministry announces that ten people aboard the Diamond Princess cruise ship moored in Yokohama Bay are confirmed to have the coronavirus. The ship, which is carrying more than 3,700 people, is placed under quarantine scheduled to end on February 19.
January 31, 2020 – The Donald Trump administration announces it will deny entry to foreign nationals who have traveled in China in the last 14 days.
January 22, 2020 – Wuhan says it will “temporarily” close its airport and railway stations for departing passengers following news that the death toll from the Wuhan Coronavirus has risen to 17. Chinese authorities confirm at least 547 cases in the mainland.
January 17, 2020 – Chinese health officials confirm that a second person has died in China. The United States responds to the outbreak by implementing screenings for symptoms at airports in San Francisco, New York and Los Angeles.
January 11, 2020 – The Wuhan Municipal Health Commission announces the first death caused by the coronavirus. A 61-year-old man, exposed to the virus at the seafood market, died on January 9 after respiratory failure caused by severe pneumonia.
January 7, 2020 – Chinese authorities confirm that they have identified the virus as a novel coronavirus, initially named 2019-nCoV by the WHO.
January 5, 2020 – China announces that the unknown pneumonia cases in Wuhan are not SARS or MERS. In a statement, the Wuhan Municipal Health Commission says a retrospective probe into the outbreak has been initiated.
December 31, 2019 – Cases of pneumonia detected in Wuhan, China, are first reported to the WHO. During this reported period, the virus is unknown. The cases occur between December 12 and December 29, according to Wuhan Municipal Health.