Mom-and-Pop-Businesses-Move-to-Front-of-the-Line-for-PPP-Loans

Mom & Pop Businesses Move to Front of the Line for PPP Loans

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Article Highlights: 14-Day Exclusive Application Period for Small Businesses and Nonprofits Limited to 19 Employees Loans Based on Gross Income Rather than Wages Certain Restrictions Removed At the direction of the White House…
IRS Stance on Deductibility Of Expenses Paid With PPP Funds

IRS Clarifies Stance On No Deductibility Of Expenses Paid With PPP Funds

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Dear friends and clients, On Wednesday, November 18, the IRS issued further guidance regarding the tax deductibility of business expenses paid with Paycheck Protection Program loan proceeds. The article below published in Forbes.com and…

PPP Interim Final Ruling Summary

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 To our valued clients:  The US Small Business Administration and Treasury recently issued an interim final rule clarifying Paycheck Protection Program forgiveness issues surrounding owner-employee compensation and the eligibility of rent…

Loan Application Period for the Paycheck Protection Program Extended

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Article Highlights:   Loan Application Period Extended Paycheck Protection Program Qualifying Expenses Loan Forgiveness If you missed the opportunity to apply for a Paycheck Protection Program (PPP) loan before the program…

Congress Liberalizes PPP Loan Forgiveness

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If you are the owner of a small business that was able to obtain a Paycheck Projection Program (PPP) Loan, you have probably already started worrying about how you are supposed to spend the loan proceeds to maximize loan forgiveness. When…
Does Your Business Qualify for the Research Tax Credit?

Does Your Business Qualify for the Research Tax Credit?

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For businesses, the tax code provides a tax credit of up to 20% of qualified expenditures to encourage businesses to develop, design or improve products, processes, techniques, formulas or software and similar activities. In the past, this credit—called…
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Important information for any business who has received a PPP loan – this will be of interest to you.

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To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers…
Not All PPP “Forgivable” Loans Will be Forgiving

Not All PPP “Forgivable” Loans Will be Forgiving

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In the face of the global pandemic and the subsequent economic crisis it has spurred, the federal government has taken several steps to protect small business owners. One of the most notable of these steps is the offering of Paycheck Protection…