Still Time to Get $150,000 from the SBA

Still Time to Get $150,000 from the SBA

Can your business use an infusion of cash to deal with losses caused by the COVID-19 pandemic? The hugely popular federal Payroll Protection Program (PPP) that paid forgivable loans to millions of businesses ended on August 8 (although it could come back in revised...
Insights into the PPP Loan and Its Forgiveness

Insights into the PPP Loan and Its Forgiveness

We receive many questions about the PPP. Here are two of them with our answers. 1. Good Faith at the Time Question. What are your thoughts on the repercussions for business owners who acted in good faith based on the information available at the time and are now left...
Spending the PPP Money on You and Your Employees

Spending the PPP Money on You and Your Employees

If you report your business income and expenses on Schedule C of your Form 1040, your Payroll Protection Program (PPP) loan forgiveness is straightforward, as you see in the four answers below. 1. Paying Myself Question. I know that I can achieve full forgiveness...