Okay, sorry, but I’m worried you might stumble into a PPP tax trap. The good news here? You may be able to avoid the trap. But the bad news? You … [Read more...] about The PPP Tax Trap
PPP Loan Amount Increases
A week or two from now, you may get a chance to get a PPP loan amount increase. We just need Congress to pass and the President to sign the … [Read more...] about PPP Loan Amount Increases
PPP Second Draw Loans
Very soon, maybe right after the holidays, some borrowers will be able to get a second PPP loan. So a second bite at the apple. Accordingly, I want … [Read more...] about PPP Second Draw Loans
Why PPP Borrowers Should Get PPP Tax Break
Sometime soon, Congress will pass additional Covid-19 relief. And probably a key feature of this relief? Giving PPP borrowers a tax deduction for the … [Read more...] about Why PPP Borrowers Should Get PPP Tax Break
PPP Loan Tax Returns: What We Know Now
The IRS provided additional rules for PPP loan tax return preparation this week. In this short post, therefore, I want to review what we now know … [Read more...] about PPP Loan Tax Returns: What We Know Now
The Small Business Long Game: Compound Growth
We’ve all had a lot of other things to pay attention to recently. The election. Covid-19. A struggling economy. But something unexpected popped … [Read more...] about The Small Business Long Game: Compound Growth
Applying for PPP Forgiveness with 3508S Form
On October 7, 2020, the Small Business Administration issued a new rule for PPP loan borrowers who received $50,000 or less in proceeds. That new … [Read more...] about Applying for PPP Forgiveness with 3508S Form
Forgiveness for PPP Loans $50,000 or Less: The New 3508S Form
Yesterday, the Small Business Administration provided a simpler forgiveness application for PPP loans of $50,000 or less. The key simplification? A … [Read more...] about Forgiveness for PPP Loans $50,000 or Less: The New 3508S Form
Rubio’s New PPP Bill: The Two Minute Overview
Senator Marco Rubio’s new PPP bill, the “Continuing Small Business Recovery and Paycheck Program Program Act,” continues to inch along. And my hunch? … [Read more...] about Rubio’s New PPP Bill: The Two Minute Overview
Covid-19 Closures Killing Millions of Small Businesses
Some bad news, I’m afraid. Covid-19 closures appear to be killing millions of small businesses. That’s maybe not a huge surprise. Also, we’ve had … [Read more...] about Covid-19 Closures Killing Millions of Small Businesses