Federal relief efforts can be confusing — are are four options from a local tax expert that are reliable for small business owners. Getty Images

There's been a lot in the news lately about large companies securing large federal grants to soften the financial blow of the CORONA shutdown — to the exclusion of smaller businesses. And even with new legislation that could provide additional funding, small companies could still be left out.

Here are four ways that companies can garner some financial relief in these challenging financial times:

1. Delay of employer FICA contributions 

While most of the attention has been focused on the forgivable loans that are part of the CARES Act, the good news is that — if you dig deeper — the legislation also provides a postponement (not forgiveness) of the employer portion of FICA payments. These are available for payroll taxes due beginning on March 27 through year's end. Payments can be deferred with half due on December 31, 2021, and the remaining half on December 31, 2022.

2. Employee retention credits

This is fully refundable tax credit available for employers equal to 50 percent of qualified wages paid to employees. The retention credit applies to qualified wages paid after March 12, 2020, though the balance of this calendar year.

There is a cap to the amount of the credit, and the credit is only available to companies that either:

  1. Fully or partially suspended operation during any calendar quarter in 2020 due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or
  2. Experienced a significant decline in gross receipts during the calendar quarter.

3. Carrying back Net Operating Losses (NOL)

Another often missed provision of the CARES Act is the ability for companies to carry back net operating losses from 2018 or 2019 to prior years (going back 5 years) and obtain refunds of previously paid taxes. The 2017 tax reform eliminated the ability to carry back NOLs, but the CARES Act has resurrected them.

4. Families First Coronavirus Response Act (FFCRA) 

Employers with fewer than 500 employees may qualify for tax credits under the FFCRA, which was enacted on March 18. The legislation has two main sections: the Emergency Paid Sick Leave Act (EPSLA), and the Emergency Family and Medical Leave Expansion Act (FMLA Expansion).

An eligible employer may claim a fully refundable tax credit equal to 100 percent of the qualified family leave wages (and allocable qualified health plan expenses and the eligible employer's share of Medicare tax on the qualified family leave wages) it pays.

Each company's situation is different, so we strongly suggest you speak with your tax adviser to see how these provisions might apply to you.

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Jason Sharp, CPA, is tax partner at Briggs & Veselka, Houston's largest locally owned CPA firm. He can be contacted a jsharp@bvccpa.com.

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Houston VC funding surged nearly 50% in Q1 2026, report says

VC victories

First-quarter venture capital funding for Houston-area startups climbed nearly 50 percent compared to the same time last year, according to the PitchBook-NVCA Venture Monitor.

In Q1 2026, Houston-area startups raised $532.3 million, a 49 percent jump from $320.2 million in Q1 2025, according to the PitchBook-NVCA Venture Monitor.

However, the Q1 total fell 23 percent from the $671.05 million raised in Q4 2025.

Among the first-quarter funding highlights in Houston were:

  • Utility Global, which focuses on industrial decarbonization, announced a first close of $100 million for its Series D round.
  • Sage Geosystems raised a $97 million Series B round to support its geothermal energy storage technology.

Those funding rounds underscore Houston’s evolution as a magnet for VC in the energy sector.

“Today, the energy sector is increasingly extending into the startup economy as venture capital flows into companies developing the technologies that will shape the future of global energy,” the Greater Houston Partnership says.

The energy industry accounted for nearly 40 percent of Houston-area VC funding last year, according to market research and lead generation service Growth List.

Adding to Houston’s stature in VC for energy startups are investors like Chevron Technology Ventures, the investment arm of Houston-based oil and gas giant Chevron; Goose Capital; Mercury Fund; and Quantum Energy Partners.

How Houston innovators played a role in the historic Artemis II splashdown

safe landing

Research from Rice University played a critical role in the safe return of U.S. astronauts aboard NASA’s Artemis II mission this month.

Rice mechanical engineer Tayfun E. Tezduyar and longtime collaborator Kenji Takizawa developed a key computational parachute fluid-structure interaction (FSI) analysis system that proved vital in NASA’s Orion capsule’s descent into the Pacific Ocean. The FSI system, originally developed in 2013 alongside NASA Johnson Space Center, was critical in Orion’s three-parachute design, which slowed the capsule as it returned to Earth, according to Rice.

The model helped ensure that the parachute design was large enough to slow the capsule for a safe landing while also being stable enough to prevent the capsule from oscillating as it descended.

“You cannot separate the aerodynamics from the structural dynamics,” Tezduyar said in a news release. “They influence each other continuously and even more so for large spacecraft parachutes, so the analysis must capture that interaction in a robustly coupled way.”

The end result was a final parachute system, refined through NASA drop tests and Rice’s computational FSI analysis, that eliminated fluctuations and produced a stable descent profile.

Apart from the dynamic challenges in design, modeling Orion’s parachutes also required solving complex equations that considered airflow and fabric deformation and accounted for features like ringsail canopy construction and aerodynamic interactions among multiple parachutes in a cluster.

“Essentially, my entire group was dedicated to that work, because I considered it a national priority,” Tezduyar added in the release. “Kenji and I were personally involved in every computer simulation. Some of the best graduate students and research associates I met in my career worked on the project, creating unique, first-of-its-kind parachute computer simulations, one after the other.”

Current Intuitive Machines engineer Mario Romero also worked on Orion during his time at NASA. From 2018 to 2021, Romero was a member of the Orion Crew Capsule Recovery Team, which focused on creating likely scenarios that crewmembers could encounter in Orion.

The team trained in NASA’s 6.2-million-gallon pool, using wave machines to replicate a range of sea conditions. They also simulated worst-case scenarios by cutting the lights, blasting high-powered fans and tipping a mock capsule to mimic distress situations. In some drills, mock crew members were treated as “injured,” requiring the team to practice safe, controlled egress procedures.

“It’s hard to find the appropriate descriptors that can fully encapsulate the feeling of getting to witness all the work we, and everyone else, did being put into action,” Romero tells InnovationMap. “I loved seeing the reactions of everyone, but especially of the Houston communities—that brought me a real sense of gratitude and joy.”

Intuitive Machines was also selected to support the Artemis II mission using its Space Data Network and ground station infrastructure. The company monitored radio signals sent from the Orion spacecraft and used Doppler measurements to help determine the spacecraft's precise position and speed.

Tim Crain, Chief Technology Officer at Intuitive Machines, wrote about the experience last week.

"I specialized in orbital mechanics and deep space navigation in graduate school,” Crain shared. “But seeing the theory behind tracking spacecraft come to life as they thread through planetary gravity fields on ultra-precise trajectories still seems like magic."