COVID-19 has had an unprecedented impact on all aspects of American businesses, but perhaps none have been as severely affected as small business owners. Surviving this disaster will require more than just time: you will need to take a pragmatic view of what has happened and what steps you are willing and able to take…
As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, rolled out some big tax benefits.
PPP loans are partially forgivable if used payroll–It may seem simple at first glance, but this is before taking into consideration all of the minutiae built into the loan forgiveness computation that will reduce the forgiveness.
Rules are subject to change; however, you can be prepared to apply for PPP Loan forgiveness. Read our additional SBA Forgiveness Application instructions to help you fill out the form
The CARES Act created additional business provisions for bonus depreciation, student loans, limitations on losses and business interests, as well as alternative minimum tax (AMT) credits.
The “Money Talks” Experts provide some insight for business owners who have eight weeks to use their PPP loan funds for payroll costs if they want the loan forgiven.
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes.
As a business owner, there is a lot you need to consider before you reopen your doors. Our friends at Pritchard & Jerden compiled some best practices to consider before opening your business back up to the public.
Documentation is going to play a big part in getting your PPP loan forgiven. Don’t wait eight weeks to start collecting proof. Here is our advice for starting now.
Businessowners must carefully consider which tax benefit or combination of tax benefits works best for their particular set of circumstances, particularly the choice between the retention credit and the SBA paycheck protection loans, since a business cannot qualify for both.
