Eagle & Fein - May 2020

Take a look at our newsletter this month.

MAY 2020

E AGLE A ND F EIN . COM

317-726-1714

Navigating the New Normal

We are facing a new normal after a pandemic that has upended our daily lives.

The Family and Medical Leave Act (FMLA) enables working Americans to dedicate time to care for their loved ones or to address their medical concerns without fear of losing their employment. This is the only law dedicated to helping men and women balance the dual demands of family and work. Thus, FMLA has drastically changed our workplace culture. Now, the Families First Coronavirus Response Act, effective from April 2 through Dec. 31, has amended and expanded FMLA temporarily. The Act lowers the eligibility requirement so any employee who has worked for their employer for at least 30 days before designated leave may qualify to receive paid family and medical leave. Those who have been employed for at least 30 days may also take up to 12 weeks of job-protected leave to care for their child (under the age of 18) if the child’s school or place of care is closed or the childcare provider is unable to watch the child due to a public health emergency. Currently, this is the only qualifying need for Emergency FMLA. Additionally, the Act reduces the unpaid period of Emergency FMLA from 14 to 10 days. During this difficult time, Eagle & Fein is encouraging a healthy work- life balance and showing true dedication to the safety of our clients, colleagues, and families. We have established a plan of action that provides continual services and counsel throughout the COVID-19 pandemic. We’ve continued to rotate a skeleton crew through the office while the rest of our staff shelters in place and provides services remotely. Personally, I have a daughter who is immunocompromised, so I elected early to work remotely for her protection. It is not always the most peaceful workday when I have a dual role as fourth grade teacher (which I am not trained for) and have to harass my sixth and 11th graders to complete their online assignments. I spent hours on the phone talking employers through their options during the early stages of Governor Holcomb’s Executive Order 20-08, which directed Indiana citizens to remain in their residences except for essential

trips. It has been interesting explaining to clients and professionals the noises of my three girls and my four-legged best friend in the background, especially during those first couple weeks after the Senate passed the amendments to FMLA. I’m sure that some of you can relate! Fortunately, the firm has been able to provide counsel through virtual meeting platforms, guiding clients on sustaining their business and navigating layoffs. The Small Business Administration (SBA) has also helped. It introduced the Economic Injury Disaster Loan Program, which provides small businesses with working capital loans of up to $2 million. This offers vital economic support and helps small businesses overcome the temporary loss of revenue they are experiencing. The Paycheck Protection Program Loan (PPP) law was also enacted in mid- March to provide additional economic relief to small businesses. The PPP provides an eligible business up to $10 million in a forgivable loan to assist in meeting payroll costs and other eligible expenses for an 8-week period following the funding of loan. This program, administrated through the SBA, initially had $349 billion allocated to it. The initial funding was exhausted within 14 days. In late April, Congress passed legislation that provided an additional $320 billion for the PPP. $60 billion of that is dedicated to businesses that do not have established banking relationships, such as rural and minority-owned companies. The SBA continues to issue additional guidance on the PPP program. The PPP has had wide spread bipartisan support, and it likely won’t be the last round of legislation. Now, the government is negotiating a “COVID-4” round of economic relief legislation that will likely become law in May. Although there are many economic pains during the crisis, it is also an opportunity to work on our businesses rather than in our businesses. We should be taking a look at newly emerging opportunities and markets, re-evaluating business plans, and setting ourselves up for success when the economic restrictions are lifted. We have to focus on what is really important and go from there.

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THE PERFECT PUSHUP Tips To Step Up Your Game

Have you ever noticed how military personnel can drop to the floor and crank out 30 pushups effortlessly? Believe it or not, so can you! All it takes is a little practice. Follow these tips to perfect your pushup. FOCUS ON FORM There’s a variety of pushup forms, and they vary both in difficulty and in which muscles they target. However, there is one pushup form that sets the foundation for the more technical and challenging moves. For the standard, military-style pushup, keep your torso lengthened in a straight line and your hands directly underneath your shoulders. When you drop to the ground, keep your body rigid and drop in one fluid motion, with the bend of your elbow pushing outward. ( Pro tip : While form should be your main focus, the faster you go, the easier pushups will be.) Once you master this style of pushup, you can begin to increase the difficulty. GET ON THE FLOOR After a quick stretch and warmup, start your pursuit of the perfect pushup by limiting the distance your elbows have to drop. Try doing pushups with

your hands placed on the seat of a stable chair and your legs stretched into a pushup position behind you to train your body for the form you need on the ground. Next, get into a standard pushup position with two yoga blocks underneath your chest. As you drop to the ground, watch your body for proper form and remove the blocks as you progress. PRACTICE Rest days are essential to any fitness routine, but when your rest days are more frequent than your fitness days, your body isn’t going to adapt and grow. Keep practicing and tweaking your pushup technique. Set small goals, such as not dropping your hips, and make plans to meet them. Asking a friend to monitor your form is a helpful way to improve too.

With a little patience and plenty of practice, you’ll be doing pushups like a pro in no time!

Business Roundtable Commits to Stakeholders, Not Just Shareholders

Recently, Business Roundtable — which includes MVPs of the business world like Amazon, PepsiCo, and Apple — released a statement detailing the essential role corporations play in generating long-term wellness for the community as a whole. In the statement, the organization argues that when 21st century businesses focus on addressing society’s challenges, both society and business can enjoy sustained prosperity. The statement centers on the idea that, while each individual business serves its own corporate purpose, all members of Business Roundtable share a commitment to several things. First, these businesses are committed to delivering value to their customers. They’re also committed to providing fair compensation and important benefits to their employees. Members provide ongoing training and education, and they deal with their suppliers in an ethical

manner. Without their suppliers, the piece points out, large companies cannot operate.

Generating long-term value for shareholders and supporting their communities are also important commitments, along with respecting the people in the communities they serve. These businesses also strive to do their best to embrace environmentally friendly practices. Rather than just focusing on the needs of the shareholder first and foremost, in this statement, Business Roundtable emphasizes that every stakeholder, from community members to vendors, is essential. The best environment for business is one in which our communities and country thrive. Their message is inspirational, aspirational, and a perfect example of why we love working with businesses at Eagle & Fein, PC!

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Level Up Your Business Succession

SUDOKU

Planning Expertise

Workshops Coming Up Through the

Eagle Wealth Planning Institute

The Eagle Wealth Planning Institute is hosting a series of workshops on business succession planning fundamentals. This educational series will provide you with the tools to assist your clients in planning for the next generation of business owners. Level up your expertise with planning attorneys Brian A. Eagle, Carol J. Greer, and Scott J. Linneweber. After attending all four workshops, participants are inducted as fellows to the institute and are invited to attend biannual Eagle Wealth Planning Institute Roundtable events. ‘ESOPS: STRATEGIES TO SELL YOUR EMPLOYEES’ Employee Stock Ownership Plans (ESOPs) can offer substantial tax benefits to companies, and company owners can use ESOPs to create a market for their shares when it is time to move on to the next thing. In this workshop, Brian Eagle will discuss how to generate interest in ESOPs among your clients. This workshop will be held Tuesday, June 16, at 8:30 a.m. ‘PREPARING THE BUSINESS FOR SUCCESSION’ Preparing your business for succession is an absolute must, and the earlier in the ownership cycle a business begins to prepare itself for succession, the better. Proper succession planning calls for deep consideration and planning. It is the surest way to protect the business’s longevity and future financial success. This workshop will be held Tuesday, Sept. 15, at 8:30 a.m. ‘STRATEGIES TO SELL TO OUTSIDERS’ Emotionally and logistically, selling a business to an outside buyer is complex. From determining your business’s value to getting your books cleaned, this workshop will cover the essential bases necessary before attempting to sell a business to outsiders. This workshop will be held Tuesday, Dec. 15, at 8:30 a.m. ‘THE LEGACY PLAN: STRATEGIES TO TRANSFER TO FAMILY OR OTHER INSIDERS’ There are multiple options to transfer ownership of a business to a family member or another insider. From adding a partner to owner financing a sale or slow gifting, the right strategy depends on each individual situation. This workshop will be held Tuesday, March 16, 2021 at 8:30 a.m. Please note that due to the COVID-19 pandemic, workshops are subject to be hosted virtually. To register or learn more, contact Melissa Claycomb at 317-726-1714 or email MClaycomb@eagleandfein.com.

Springtime Cacio e Pepe

Nothing is more comforting than a big bowl of cacio e pepe, which is Italian for

cheese and pepper. This dish combines a wholesome flavor profile with fresh, seasonal ingredients to satisfy any craving. INGREDIENTS

• •

6 oz multigrain spaghetti 8 oz fresh asparagus, cut into 1-inch pieces

•

1/2 cup Parmesan cheese, grated 1/2 tsp black pepper 1 cup baby arugula

• •

1 tbsp olive oil 1 tsp lemon zest

DIRECTIONS

1. Heat oven to 425 F.

2. In a large pot, cook spaghetti until al dente. Reserve 1 cup of water before draining and put spaghetti in a covered pot to keep warm.

3. Line a 15x10-inch baking pan with foil and toss in asparagus and olive oil.

4. Cook asparagus for 5–7 minutes and sprinkle with lemon zest.

5. Add 3/4 cup of the reserved water, Parmesan cheese, and pepper to the spaghetti. Stir until creamy.

6. Toss in asparagus and arugula before serving.

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INSIDE THIS ISSUE

1 Navigating the New Normal 2 Perfect Your Pushup With This Guide An Inspirational Message From Business Roundtable 3 Level Up Your Business Succession Planning Expertise Springtime Cacio e Pepe 4 A Healthy Snack

SNACKING

There are many different opinions on the healthiness of snacking. Some people think of snacks as processed foods with high calories, but snacks don’t have to be junk food. Depending on what snacks you’re eating, and how often, these little in- between-meal bites can be highly beneficial or detrimental to your overall health. HEALTHY VS. UNHEALTHY SNACKS People snack when they ’re hungry, but they also do it when they ’re stressed, bored, or have a habit. When people snack on unhealthy junk food when they ’re bored, the result is weight gain. An excellent way to avoid unhealthy snacks is to surround yourself with healthy alternatives. Fill your fridge and pantry with whole grains, fruits and vegetables, and nuts and legumes. With those in your kitchen, you’ll have plenty of healthy options to choose from when you’re hungry.

the day can be more effective than eating three large meals a day. Individuals who are crunched for time, have particular health conditions, are athletic, or are trying to lose or maintain weight all benefit from healthy snacking throughout the day. People who have high cholesterol or diabetes can better maintain their cholesterol and blood glucose levels if they eat frequently during the day. For athletes, snacking helps distribute the consumption of nutrients their body needs throughout the day instead of all at once. This way, their energy levels stay the same instead of fluctuating with their meal times. If you find yourself in need of a quick bite, think clementines and almonds instead of chips and Pop-Tarts. You’ll still satisfy your hunger without jeopardizing your health or increasing your waistline.

WHAT IS IT GOOD FOR?

WHO BENEFITS FROM SNACKING?

Depending on your weight, fitness level, and medical conditions, snacking throughout