There is additional money available from the Small Business Administration (SBA) for a new round of Paycheck Protection Program (PPP) loans courtesy of the Emergency Coronavirus Relief Act of 2020. Here’s what you need to know: Requirements to Take Out a 2nd PPP Loan If you received PPP loan proceeds in 2020, and wish to […]
The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP). Today’s guidance, Revenue Ruling 2021-02, reflects changes to law contained in the […]
The U.S. Senate and House of Representatives passed an emergency $900 billion COVID-19 relief bill which the President signed into law December 27, 2020. Highlights include: Additional 2020 recovery rebates for individuals. The provision provides a refundable tax credit in the amount of $600 per eligible family member. The credit is $600 per taxpayer ($1,200 […]
So You Got Your PPP Loan. What’s Next? You just got the email that your Paycheck Protection Program (PPP) loan was approved—congrats! Getting this far is a major accomplishment and warrants some serious celebration (homemade frosé anyone?). But being approved for a loan is just the start of your PPP journey. Now, it’s time to strategize how […]
Small Businesses: ACT NOW! New Funds are Available. Act fast to get your slice of additional SBA funds. An additional $484 billion in COVID-19 small business assistance is now available, including $310 billion in new money for the Small Business Administration’s (SBA) Paycheck Protection Program. Get your Paycheck Protection Program (PPP) loan application in now […]
