Archives for 2020

Local news and police departments are warning of a new scam where consumers are receiving a text message claiming they have come in contact with someone who tested positive for COVID-19, or is showing symptoms of the virus. The text instructs the individual to self-isolate, and provides a link for the consumer to click for more information. Clicking on this link provides a gateway for fraudsters to contact the person in an attempt to trick them into sending money or personal information and/or downloads a virus onto their phone. If you receive text messages stating you may have been exposed […]

The U.S. Chamber of Commerce Foundation in partnership with a coalition of supporting companies, foundations and philanthropic donors, is working to provide financial relief to small businesses through the Save Small Business Fund. The Save Small Business Fund is a grant-making initiative that offers $5,000 grants to provide short-term relief for employers across the U.S. The grants will help businesses meet their most pressing needs that can include anything from rent to payroll expenses to overall business operations. Grants will be distributed on a weekly, rolling basis until all funds have been allocated. To qualify, a business must:Employ between 3 and […]

Update, Friday April 24th:  The Small Business Administration has announced that it will begin accepting applications for the second round of Paycheck Protection Program loans on Monday, April 27 at 10:30am.  We plan to begin accepting applications again at that time.  Please watch this website and your email for additional information on Monday morning. Thank you for your business.  We are all in this together. On April 16th, the Small Business Administration (SBA) announced that the funding for the Paycheck Protection Program (PPP) has been fully exhausted and they are no longer accepting applications. While there is a possibility that Congress […]

Update, Friday April 24th:  The Small Business Administration has announced that it will begin accepting applications for the second round of Paycheck Protection Program loans on Monday, April 27 at 10:30am.  We plan to begin accepting applications again at that time.  Please watch this website and your email for additional information on Monday morning. Thank you for your business.  We are all in this together. On April 16th, the Small Business Administration (SBA) announced that the funding for the Paycheck Protection Program (PPP) has been fully exhausted and they are no longer accepting applications. While there is a possibility that Congress […]

While government checks are not normally eligible for mobile deposit, a temporary exception has been made to ensure customers are able to deposit stimulus checks without needing to visit a branch. Please note the following when depositing checks from your mobile device:All check payees must be listed on the account where the check is being deposited Proper endorsement is always required. This includes the signature of all payees as well as the statement “For mobile deposit only to MVSB” There is a $5,000 daily limit, and $15,000 rolling 30-day period limit for mobile deposits The daily cutoff is 4:30pm. Checks deposited […]

The Coronavirus Aid Relief and Economic Security (CARES) Act contains many retirement plan related options designed to assist the millions of Americans affected by the pandemic. While we advise that you consult with your tax advisor to review all the details of the CARES Act and how it applies to your specific situation, there are some benefits that we wanted to ensure all of our customers were aware of:Individuals may be able to withdraw up to $100,000 in total from eligible retirement plans without paying the 10% early retirement tax provided that they are diagnosed with COVID-19 or suffer adverse […]

Many people are aware that the date for filing your taxes and making IRA contributions for the 2019 tax year has been moved to July 15, 2020. We wanted to be sure that our customers were aware that the same is true for the 2019 tax year for Health Savings Account (HSA) contributions. There are some other health-related provisions created by the Coronavirus Aid Relief and Economic Security (CARES) Act, with more likely to come as additional relief programs are being considered by Congress. The CARES Act includes the following benefits:Contributions to HSAs for the 2019 tax year can be […]

During these difficult times, fraudsters are relentless with their attempts to defraud individuals and organizations. In fact, the FTC has reported that Americans have lost nearly $12 million on coronavirus-related scams to date. The surge of teleworking has increased the vulnerabilities to corporate networks by hackers. Common schemes you should be aware of are:Fake emails that appear to be from trusted entities such as the World Health Organization (WHO), the Centers for Disease Control (CDC), the FBI, the US Postal service or other government agencies.   These fake emails contain files with computer viruses or links that request your personal information […]

Update, Friday April 24th:  The Small Business Administration has announced that it will begin accepting applications for the second round of Paycheck Protection Program loans on Monday, April 27 at 10:30am.  We plan to begin accepting applications again at that time.  Please watch this website and your email for additional information on Monday morning. Thank you for your business.  We are all in this together. On April 16th, the Small Business Administration (SBA) announced that the funding for the Paycheck Protection Program (PPP) has been fully exhausted and they are no longer accepting applications. While there is a possibility that Congress […]