April 14, 2021

The Small Business Administration Is Tripling Loan Amounts for COVID-19 Impacted Small Businesses

With the COVID-19 pandemic still ongoing, the SBA has announced that beginning April 6, 2021, eligible small businesses and non-profit organizations can apply for up to 24 months of financial relief. In this article, we’ll explore the key takeaways from this newest announcement from the SBA, and how small businesses can best benefit from them.

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January 15, 2021

New PPP Guidelines Released by SBA to Help Small Businesses

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.

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December 28, 2020

New Legislation Allows Tax Deductibility for Business Expenses Paid with Forgiven PPP Loans

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.

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December 17, 2020

Payroll Expenses Paid For by PPP Ruled Non-Deductible

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.

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November 30, 2020

The Tax Implications of PPP Loan Forgiveness for Small Business Owners

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.

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September 2, 2020

What the New Interim Final Rule Means for Small Business PPP Loan Borrowers

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.

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August 11, 2020

New SBA PPP Loan Forgiveness Guidance

Don’t forget to check out these essential key points and provisions about the new SBA PPP Loan Forgiveness Guidance to ensure a loan is applicable for forgiveness.

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June 8, 2020

New Legislation Makes Major Adjustments To PPP Program

Don’t forget to check out these important updates about the coming major PPP Loan Forgiveness changes and how they can impact positively your small businesses.

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May 28, 2020

Owner Compensation And PPP Loan Forgiveness

Do you know how to maximize your PPP Loan Forgiveness? Check out these clarifications for owner-employees and sole proprietors

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May 14, 2020

PPP Safe Harbor Guidance for Small Businesses

Good News on Good Faith Certification for Small Businesses After much back-and-forth and a lot of confusion within the SBA and between the SBA, Department of the Treasury and Congress, we are very pleased to report that the most recent guidance, issued yesterday by Treasury, clarifies and simplifies the process for confirming that the PPP […]

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