January 15, 2021

The Small Business Association (SBA) issued a fresh set of Paycheck Protection Program (PPP) guidelines on January 6, 2021 with new guidelines expanding the scope of the original PPP to help small businesses hit worst by the pandemic. In this article, we’ll explore the implications the new rulings have for small businesses.

December 28, 2020

All basic eligible expenses from PPP1 will transfer to PPP2. A few exceptions might include forgiveness for worker protection and PPE, and other necessary expenses such as software and account services.

December 17, 2020

Small business owners will not be able to claim a deduction for otherwise deductible expenses if they were paid for by funds from a PPP loan. However, Congress says they are committed to addressing this issue by the end of the year.

November 30, 2020

While the Paycheck Protection Program (PPP) has been a lifeline for small businesses, it also comes with a variety of tax implications including questions surrounding whether or not forgiven loans are taxable or can be counted as grants.

September 2, 2020

The new IFR can greatly impact PPP loan forgiveness for rent or mortgage interest as well as S- and C-corporation employee-owners’ payroll compensation.