Important Reminder about Applying for COVID-19 Grants

DED Issues Important Reminder about Applying for COVID-19 Grants for Small Businesses, Livestock Producers
There are two major steps to completing an application. After filling out an online eligibility form, those who are eligible will receive a confirmation email containing a confirmation number and a link to the full application. You are not finished applying at this point. You must use the link to then complete a full application. Those who do not complete a full application will not receive a grant.    

Visit for more information or to begin the eligibility confirmation and application process. Call the Get Nebraska Growing hotline at 855-264-6858 if you encounter technical difficulties.  

Remember that there is still time to apply for each of the grant programs listed and described below, which are intended to provide support and assistance to Nebraskans negatively impacted by the COVID-19 pandemic.  

· The Small Business Stabilization Grant Program provides grants to small businesses of 5-49 employees that were impacted by the coronavirus and meet certain eligibility requirements. Applications are due on June 26 at 5:00 p.m. CDT.  

· The Livestock Producer Stabilization Grant Program provides grants to eligible livestock producers of 1-10 employees that have endured revenue or employment losses due to the pandemic. Grants for both programs can be used to cover business operating expenses. Applications are due on July 1 at 5:00 p.m. CDT.   

· The Workforce Retraining Initiative will provide funds to all of the state’s community colleges for scholarships and workforce training enhancements. In turn, the community colleges will award scholarships to individuals who are unemployed or underemployed due to the coronavirus, in order to prepare them for employment in high-demand career fields. Prospective students will be able to apply for the scholarships online through Nebraska community college websites starting in July. More information is forthcoming.  

· The Rural Broadband Remote Access Grant Program will result in new internet connectivity in communities where work-from-home, tele-education and telehealth opportunities have been limited due to inadequate or non-existent high-speed internet service. Broadband providers, with the support of local community officials, can apply for the grants through July 2, 2020.   

· The Gallup Back to Business Learning Journey will fund admission to a Gallup-led leadership training course for a total of 75-100 leaders from eligible small businesses. The course promotes skills that will help businesses refocus and thrive following the pandemic. Businesses can apply through July 2, 2020.


Apply Now! Grant Available for Small Businesses & Livestock Producers

Nebraska Small Business Stabilization (SBS) Grant for Small Businesses & Livestock Producers –The DED is Now Accepting Applications!
The SBS Grant allocates working capital to help cover operating expenses. This will enable small businesses and livestock producers to get back on their feet and back to profitability.

Steps to Complete: Complete the eligibility certification first. You will receive the certification number, and then you can complete the application. Takes approximately 5-10 minutes to complete.
Eligibility Certification Form

Who is eligible? (small businesses)
Nebraska-owned businesses with 5 to 49 employees as of March 13, 2020 that have closed or sustained a loss of revenue or employment since March 13, 2020, are eligible to apply.

All industries are eligible except:
Mining (NAICS 21)
Utilities (NAICS 22)
Finance and Insurance (NAICS 52)
Management of Companies & Enterprises (NAICS 55)
Educational Services (NAICS 61)
Public Administration (NAICS 92)
Lobbyist and Political Organizations

Who is eligible? (livestock producers)
Nebraska livestock producers with 1 to 10 employees that have closed or sustained a loss of revenue or employment since March 13, 2020, are eligible to apply.

The following industries are eligible:
Beef Cattle Ranching and Farming (NAICS 112111)
Dairy Cattle and Milk Production (NAICS 11212)
Hog and Pig Farming (NAICS 1122)
Poultry and Egg Production (NAICS 1123)
Sheep/Goat Farming (NAICS 1124)
Nebraska Livestock producers must have at least 20 animal units
Two-thirds (2/3) of gross income must come from Farming or Ranching

The State of Nebraska will be providing transparent reporting on the CARES Act funds and names of recipients will be made public.

How can the grant be used?
Businesses can use the SBS Grant as working capital to pay for operational expenses, with the purpose of helping sustain the business during the economic downturn or preparing it to bounce back. Livestock producers can use the SBS Grant as working capital to pay for operational expenses, with the purpose of helping the producer maintain or bounce back during the period of economic downturn.

How to apply: (small businesses)
If eligibility requirements are met, the grant-seeking business should submit a Completed Eligibility Certification Form to the Nebraska Department of Economic Development (DED) by the deadline below. The Eligibility Certification Form will be used to verify that the business is a Nebraska taxpayer that has employees in the state. If the business is validated, it will receive an invitation to submit a full application, which must be submitted by the deadline below.

You will need the following: Business Name, Email, State ID (tax ID), Withholding FEIN (Federal Employment Identification Number), Eligibility Certification Form

How to apply: (livestock producers)
If eligibility requirements are met, the grant-seeking livestock producer should submit an electronic Eligibility Certification to DED by the deadline below. The Eligibility Certification will be used to verify that the livestock producer is a Nebraska taxpayer that has employees in the state. If the livestock producer is validated, it will receive an invitation to submit a full application, which must be submitted by the deadline below.

For a business, you will need the following: Business Name, Email, State ID (tax ID)

For an individual (sole proprietorship), you will need the following: Name, Email, Social Security Number, Driver’s License Number, Date Issued for Driver’s License, Adjusted Gross Income for Most Recent Tax Return

Application deadlines:
Eligibility submission opening date – June 15, 2020 at 8 am CT
Eligibility submission deadline – June 26, 2020 at 5 pm CT
Eligibility notification date (via email from the State) – June 15,2020 – June 26, 2020
Application begin date – June 15, 2020 at 8 am CT
Application deadline – June 26, 2020 at 5 pm CT

FAQ Livestock Producers
FAQ Small Businesses

Additional details can be found on the Nebraska DED website.


Four New COVID-19 Relief Grants

These four new grants are designed to provide assistance to individuals, families and businesses who have been economically impacted by COVID-19.

May 27, 2020, Governor Pete Ricketts announced the Nebraska Department of Economic Development (DED) will co-administer four new State grant programs — utilizing $392 million in federal Coronavirus Aid, Relief and Economic Security (CARES) Act COVID-19 Relief funding — to help support Nebraska’s economic recovery. 

The grants are designed to provide assistance to individuals, families and businesses that have been economically impacted by COVID-19, and will fill gaps by addressing four critical areas of need: 
-Financial support (i.e., support for operating costs) for small businesses and for livestock producers.
-Workforce training and retraining for un and underemployed Nebraskans.
-Enhanced rural broadband access.
-Gallup-based leadership training to promote positive outcomes for impacted businesses. 

Click here to learn about these grant programs in detail. 

NOTE: grant applications will be accepted starting on the following dates:

6/3: Workforce Retraining
6/8: Stabilization Grants for small businesses
6/15: Stabilization Grants for livestock producers
6/22: Gallup Business Leadership Training and Remote Access (Rural Broadband) grants

WEBINAR – Investing In A Turbulent Market

Apollo D Lupescu, PhD, Vice President of Dimensional Fund Advisors, and Jared Faltys, CPA/PFS and Partner with McMill Wealth, review the history of the market.

Are you wondering what the current market means for your long-term investing goals?

Are you concerned about the constant news about market performance?

This webinar addresses your concerns and will use academic data, not fear, to talk about investing principals.

“Imagine you see a child playing with a yo-yo, riding up an escalator. Focus on the escalator, not the yo-yo.” -Mark Zinder

Nebraska Personal Property Tax Penalty & Interest Waiver

Personal property tax returns normally due May 1st have been extended to July 15th if you want to be allowed the $10,000 exemption.

Any returns filed after that time but by December 31, 2020 will forfeit the exemption but will not be assessed the late filing penalty.

Interest will start to accrue starting July 16th on any value added after July 15, 2020.

The exemption is still available if filed by July 15, 2020.

IRS Deadlines & PPP Additional Details

The IRS just released Notice 2020-23 to extend more tax deadlines for individuals and businesses. 

The relief covers taxpayers that have a filing or payment deadline between April 1, 2020, and July 15, 2020. It applies to fiscal year entities, estate tax returns, nonprofit organizations, information returns, and more. 

In addition, the deadline for second quarter estimated tax payments has been moved from June 15 to July 15, and the relief is automatic so taxpayers don’t need to file any extension forms to get the relief.

Thank you to everyone who was able to join us for the PPP Webinar. The webinar reviewed how the loan process works and the 8-week period for calculating loan forgiveness. Since the webinar was broadcast additional information was received, so we wanted to cover some details on the changes and reiterate some of the best practices we covered.

When does the eight-week period begin?
The eight-week period begins on the date the lender makes the first disbursement of the PPP loan proceeds to the borrower.The lender must make the first disbursement of the loan within ten calendar days from the date of loan approval (this is new information received after the webinar was recorded)

Consider using a separate account dedicated to the PPP Loan proceeds.
Using a separate account will make tracking much easier. If a copy of the bank activity is requested, you can easily provide detail on how the funds were used.

Maintain detailed records for support of payroll costs.
Prepare the data for submission related to each payroll including:
Group Health Care Coverage
Health Care Costs
Retirement Plan Employer Contributions

If paying employees under the Families First Coronavirus Response Act for Emergency Sick Pay or Emergency FMLA, maintain adequate records as these amounts will be adjustments to your payroll costs.You cannot participate in the following CARES act benefits:Employee Retention CreditDelay of Employer Payroll Tax Payments (FICA)Keep a detailed record with invoices paid for the following: Rent – Utilities – Mortgage Interest

Planning ahead will facilitate the maximum opportunity for Loan Forgiveness for the period of eight weeks after the date of your loan. Please use our calculator to estimate your loan forgiveness.

Download The Calculator
View The Webinar

WEBINAR – The Paycheck Protection Program Loan

McMill CPAs & Advisors partnered with Midwest Bank to look at how the loan process works, and the 8-week period for calculating loan forgiveness. This loan is designed to assist businesses in retaining employees by providing cash flow for payroll and a few other specific expenses.

McMill CPAs & Adivsors and Midwest Bank will cover this program in detail.
– What specific expenses are covered (other than payroll)
– Loan Forgiveness Details
– Frequently Asked Questions – McMill CPAs & Advisors and Midwest Bank will review the questions they have received regarding the program

A loan forgiveness calculator can be found in our COVID-19 SBA Resource Center!

VIDEO CONTENT CLARIFICATION – The amount of forgiveness of a PPP loan depends on the borrower’s payroll costs over an eight-week period.

When does that eight-week period begin?
The eight-week period begins on the date the lender makes the first disbursement of the PPP loan to the borrower. The lender must make the first disbursement of the loan no later than ten calendar days from the date of loan approval.

Coronavirus: What to Do if You’re Out of Work

Coronavirus—aka COVID-19. It has flooded our social media, nightly news, and has even made its way into some of our communities. It goes without saying that this thing has created mass hysteria and panic across the globe. But if you’re looking for that here—you won’t find it.

We haven’t lost our hope, and you shouldn’t either. We’re going to get through this, folks. Emotions are running high surrounding the coronavirus, and it feels like there’s so much uncertainty. But you don’t need to live in fear.

Yes, this virus has impacted all of us, whether it’s by coming down with the sickness itself, becoming filled with anxiety from the news, or being out of work (and out of a paycheck). We’re all feeling it in some way. And with 78% of Americans living paycheck to paycheck,1 it’s easy to see why the loss of even just one paycheck could be devastating. 

Will You Miss a Paycheck Due to the Coronavirus?

It’s no secret that things are shutting down all across the world. And if your workplace has closed its doors and isn’t offering pay, then it’s time for you to (calmly) regroup and get some things in order. The thought of being without a paycheck can be overwhelming. But we don’t want to scare you. We want to give you sensible, level-headed actions to take. But first, step back and take a big, deep breath.

money icon

Did you do it?

Okay, good.

Now let’s look at some things you can doto keep you on your feet—even without a paycheck.

7 Things to Do When You Miss a Paycheck

1. Get on a budget.

If you aren’t already living on a budget, the time is now! Making a monthly budget will show you exactly where your money is going—no ifs, ands or buts about it.

Without a budget, you really can’t make every dollar stretch because you might not even know how much money you have to work with. Plus, your budget will show you places where you can cut back and save money (more on that later). And you don’t have to rely on a yellow lined notebook to crunch the numbers. Give our free budgeting app, EveryDollar, a try and see how simple budgeting can be.

If you don’t have any income right now, then make a budget based on the amount of money you do have. If you have $600 left to your name, budget out exactly where each of those dollars will go. It’s time to squeeze every last penny out of what you’ve got.

If you still have cash coming in from your spouse’s job or some other source, then adjust your budget to reflect that. Maybe the two of you usually bring in a combined $5,000 a month. But with the loss of one income, you’re down to $2,500 a month.

Adjust your budget to live off of that one income for the time being. It might be tough to switch up your lifestyle, but you’ve got to make temporary sacrifices to get through this.

2. Take care of the Four Walls.

When the going gets rough—like it is right now—you need to focus on the things you really need to survive. We call these the Four Walls. Forget the student loan payment, the vet bill and the cell phone bill (for now). The Four Walls are your priority, so pay for these things in this order before anything else:

  1. Food
  2. Utilities
  3. Shelter
  4. Transportation

These are the basics you need to keep going so you can live to fight another day. And it’s really hard to fight when your family doesn’t have food, isn’t it? So if there’s no food in the fridge, don’t pay the cable bill.

If there’s any money left over after you take care of the Four Walls, make a list of what else you need to pay and tackle that in order of importance. When you run out of money—that’s it. Someone on the list isn’t getting paid, and that’s just how it goes. But it sure as heck isn’t going to be the checkout lady at the grocery store. Remember, that’s priority number one!

If you’re renting and having trouble coming up with cash right now, don’t stress out. Reach out to your landlord and be honest with them about what’s going on. They might be able to work something out with you for the time being, but they can’t help if they don’t know. Be up front with them and pray for the best.

3. Pause your debt snowball.

When you’re just trying to make it to another day, you don’t need to pay extra on your debt. Instead, focus on piling up cash as high as you can. This will help with peace of mind until you have income again. Once life gets back to normal and everything is okay, you can pick up where you left off with your debt snowball.

If you’ve been chipping away at your debt, you probably don’t want to see all your progress come to a screeching halt. But the reality is, if you’re not getting paid, then you’re in the middle of a crisis. So pause your debt snowball. If it’s within your budget to keep paying the minimum payments on your debt, go for it. But remember, the Four Walls come first. Don’t let your family go hungry for the sake of your FICO score.

4. Sell stuff.

Get radical. No, we don’t want you to go selling hand sanitizer on eBay for $50 a bottle. But this is the time to sell what you can to bring in extra cash. Maybe that’s your jewelry, clothes, baby items or even the extra car sitting in your garage. If you know you can part with something and get extra cash in your hands—do it! Well, within reason. 

5. Get a temporary job or start a side hustle.

If you’re out of a paycheck because of the coronavirus (or your business is taking a serious hit from it), that’s a real thing. But you don’t need to freak about it—just go get some part-time work.

With so much being shut down right now, there might not be as many traditional ways to make extra money out there. Your local hotels, movie theaters and restaurants probably aren’t looking for help. So think about who might be hiring more right now. Look into driving for Amazon (hello, doorstep toilet paper deliveries), picking up takeout food for Postmates, or dropping off grocery orders with Shipt.  

And even if one of those doesn’t work out, you can still take up odd jobs around your neighborhood (think cutting the grass, picking up leaves, babysitting, or dog walking). Be on the lookout for opportunities that will add a few extra bucks to your pocket. In this situation, every little bit helps.

6. Look for things to cut.

This is the time to cut back on any unnecessary expenses that you can. Tighten it up. Stop or pause your subscriptions (think Netflix, Hulu, meal delivery kits, specialty makeup boxes). They aren’t going anywhere, and you can easily pick them back up once everything blows over and you have extra cash to spend again.

Don’t forget to call your cable, internet and cellular providers to see if there’s anything they’ll do to work with you during this time. Be open and honest, and let them know your situation. You’ll never know if you don’t ask! And since you already have them on the line, go ahead and downgrade or pause your service for now. None of these things fall into the Four Walls, remember?

And have you heard of this thing called “social distancing?” It means people are encouraged (and want) to stay away from each other right now. Which can make it easier to not spend money. Sports venues are closed, Disneyland is closed—heck, even bars are closed. And even if places are open, this is a time when most people are staying home anyway. Your friends probably won’t pressure you to go hit the town this weekend. That’s good news for your budget.

We know making sacrifices like this can feel like adding insult to injury when you’re already hurting. But keep reminding yourself: This is not forever. We’re going to make it through this! You’re making temporary sacrifices to tread water until this storm passes and you’re back on your feet again.

7. Connect with your church or local community groups.

Let’s be clear here: Try to do everything in your power first before you seek help like this. Make sure you cut back where you can and take any temporary jobs to work hard and get back up on your own two feet.

But, in times of real need, don’t be too prideful to ask for a helping hand. Many churches and community groups in your area exist for situations like this. They want to help you! If going to a food bank means your family is fed, then do it.

Dave Ramsey – Are You Letting COVID-19 Destroy Your Long Term Money Goals?

Clint Weeder | Your Smartvestor Pro

Email Clint at, or
Give Clint a call directly at 402-371-1160 or 1-800-694-1160