The Paycheck Protection Program has quite literally been a lifesaver for small businesses during the pandemic.
The first round of PPP loans were vital to retaining employees and maintaining operations during the beginning of the pandemic, but unfortunately, one round wasn’t enough.
In an effort to really get businesses back on their feet and stimulate the economy, the second batch of PPP loans has been tweaked quite a bit. It contains more funds as well as a larger list of expenses that are eligible for forgiveness–including technology.
Just like the last round, in order for the loan to be 100% forgiven and turned into a grant, 60% of it must be spent on payroll and 40% on other qualified costs.
Payroll costs include utilities, benefits, rent, and mortgage interest. But the main difference in this new round is that the money can also be used for uninsured property damage that occurred last year, COVID-19 worker safety provisions (e.g., temperature screening kiosks, UVC disinfectant, and masks), specific operational expenses, and supplier costs like cloud services and software.
Investing in safety
If you’ve been looking for new ways to keep your employees and customers safe (like temperature screening kiosks), but haven’t been able to afford them–now is your chance.
And no, it’s not too late in the game to implement this kind of technology.
Even on that sweet, victorious day when the pandemic is finally over, temperature screening kiosks like SafeScreen will still be useful in your daily operations.
While we’ll hopefully reach a day when we don’t need its fever-checking capabilities, SafeScreen’s security features will be beneficial long-term. Because this technology relies on facial recognition to operate, it can be integrated with your personnel cards and automatic doors to open for employees only–alerting you when a stranger attempts to enter your facility.
Temperature screening kiosks and tax deductions
Another key benefit of purchasing a temperature screening kiosk for your business is the technology tax deduction. Section 179 of the tax code and bonus depreciation allows businesses to write off relevant COVID technology, including plexiglass/dividers, sanitizing stations, printed signage, and you guessed it–temperature screening kiosks.
This section allows businesses to deduct the full purchase price of qualifying equipment and/or software that they’ve financed or purchased during the tax year. To qualify for the full deduction for the 2021 tax year, the spending limit is $2.62 million–up from $2.59 million last year.
Because this second round of PPP money covers worker safety expenses, ALL of our products are covered–from temperature screening kiosks to personal protective equipment like face masks. Contact Quality Face Wear by Bizzuka today to purchase your temperature screening kiosk or bulk cloth face masks!