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
Sole Proprietorship PPP Loan Applications
I want to talk about sole proprietor PPP loan applications. More specifically, about PPP loans for sole proprietors who don’t employ other workers … [Read more...] about Sole Proprietorship PPP Loan Applications
Sole Proprietor and Partnership PPP Tax Rules
Sole proprietor and partnership PPP tax rules get complicated. A sole proprietor who uses her or his PPP loan money to pay the owner probably … [Read more...] about Sole Proprietor and Partnership PPP Tax Rules
Post-Pandemic Covid-19 Small Business Planning
Okay, this may sound crazy. But I’m going to say it anyway. A good chance exists you and I need to start thinking more—and thinking more … [Read more...] about Post-Pandemic Covid-19 Small Business Planning
PPP Loan Amount Increases After-the-fact
The proposed “Continuing Small Business Recovery and Paycheck Protection Program Act” tweaks the Paycheck Protection Program in a bunch of … [Read more...] about PPP Loan Amount Increases After-the-fact