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PPP

ERC and PPP Affiliation Rules May Make Acquisitions More Attractive

January 18, 2021 By Stephen Nelson CPA 1 Comment

Editor's Note: Daniel Chodan, a tax partner with the Trout CPA firm in Pennsylvania, wrote the article that appears below. If you follow Dan on … [Read more...] about ERC and PPP Affiliation Rules May Make Acquisitions More Attractive

Filed Under: COVID-19, PPP

Calculating Revenue Reductions for Second Draw PPP Loans

January 8, 2021 By Stephen Nelson CPA 77 Comments

second draw PPP loan revenue reduction calculation art

As you probably know if you’re reading this, small businesses suffering from 25 percent or bigger revenue reductions may receive a second draw PPP … [Read more...] about Calculating Revenue Reductions for Second Draw PPP Loans

Filed Under: Bookkeeping, COVID-19, PPP

The PPP Tax Trap

December 28, 2020 By Stephen Nelson CPA

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

Filed Under: business taxes, individual income taxes, PPP

PPP Loan Amount Increases

December 21, 2020 By Stephen Nelson CPA

Don't miss the bus with regard to the PPP loan amount increases that may become available if Rubio's bill passes.

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

Filed Under: business taxes, COVID-19, PPP

PPP Second Draw Loans

December 21, 2020 By Stephen Nelson CPA

PPP second draw loans give small businesses a second chance

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

Filed Under: business taxes, COVID-19, PPP

Why PPP Borrowers Should Get PPP Tax Break

December 17, 2020 By Stephen Nelson CPA

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

Filed Under: COVID-19, PPP

PPP Loan Tax Returns: What We Know Now

November 20, 2020 By Stephen Nelson CPA

PPP loan tax returns will be a little bit more complicated than many hope or expect.

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

Filed Under: COVID-19, PPP

Applying for PPP Forgiveness with 3508S Form

October 13, 2020 By Stephen Nelson CPA

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

Filed Under: PPP

Forgiveness for PPP Loans $50,000 or Less: The New 3508S Form

October 9, 2020 By Stephen Nelson CPA

PPP loan forgiveness application now easy for small $50,000 loans.

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

Filed Under: PPP

Rubio’s New PPP Bill: The Two Minute Overview

September 21, 2020 By Stephen Nelson CPA

Picture of Senator Rubio,author of the new PPP bill

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

Filed Under: COVID-19, PPP

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Featured Posts

Proposed Biden Tax Reform Planning

You want to spend at least a little time thinking about the Biden tax reform proposals. With the President-Elect taking office in January, the … [Read More...] about Proposed Biden Tax Reform Planning

Small business compound growth is the long game

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

Like Kind Exchange Rules Powerful But Tricky

The Section 1031 like kind exchange rules complicate decisions for real estate investors. But the rules offer real estate investors opportunities for … [Read More...] about Like Kind Exchange Rules Powerful But Tricky

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  • Stephen Nelson CPA on Calculating Revenue Reductions for Second Draw PPP Loans
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