What is TCJA?

That stands for Tax Cuts Jobs Act

What about Small Businesses?

Congress came up with a 20% deduction

Bonus Depreciation:

-50% first-year bonus depeciation deduction

-Only new assets qualify used assets do not

Qualified Leasehold Improvements:

-All 3 categories now fall under only one qualified Improvement Property

Property

Small Business Employees Returning to Work – But with Fewer Hours and Lower Pay

Why is that happening? Will it change?

For the second straight month, small businesses are bringing on more staff – but at reduced pay and fewer hours,” she added. “This new data comes as many small businesses find themselves running low on relief funds – or stretching them as far as they can to make ends meet.”

Back to work, but less money: The number of salaried workers that have had a wage cut of 10% or more increased by 80%. Hour and pay rate reductions were 33 and 27%, respectively. Furloughs accounted for 25% of reduced wages.

More employees are quitting: In June 3.4% of employees left their companies voluntarily. 

This was a 32% increase from May.

COVID-19 update

Dr. Fauci, fresh off a baseball appearance that convinced everyone he wasn't The Natural in disguise, returned to his day job to say that a coronavirus vaccine probably won't be widely available to the American public until a few months into 2021. 

The S&P had its worst day in nearly a month as earnings season rolls on.

The number of people applying for unemployment benefits rose last week for the first time since the pandemic struck in March, just as a $600 weekly federal aid payment for people who lost their jobs is set to expire this week. Southwest Airlines and American Airlines both slumped after reporting huge second-quarter losses and warning that the recovery in air travel seen in April has stalled.

Inconspicuous high-tech cleaning equipment and health safety monitors...

...are offering retailers a visually less alarming way to keep their stores clean.

Visiting a retail store may feel radically different from pre-pandemic times — with capacity restriction, hand sanitizer dispensers, and mask mandates — but in other ways, non-invasive, inconspicuous technologies are working behind the scenes to stop the spread. 

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U.S. small business owners face difficulties in making rent payments...

...and landlords can't afford to evict them.

The economic shutdowns and on-again-off-again re-openings have made it hard for business owners to cover their rent, which can sometimes be their largest expense.

That has created an uncomfortable tension and interdependency with the often small, independent landlords or small real estate firms from which they rent. Those landlords, after all, have their own expenses and taxes to pay.

An informal survey taken at the end of June by small business advocacy group The Main Street Alliance found that nearly 60% of its members had delayed or reduced their commercial rent payments in the past four months. Nearly half said they've had to pay business expenses by borrowing against their home or using their personal credit cards.  

The economic strain likely will get worse before it gets better for everyone.