SBA Announces Opening of PPP Direct Forgiveness Portal
The U.S. Small Business Administration (SBA) recently launched a streamlined application portal to allow borrowers with Paycheck...
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Mar 5, 20211 min read
New PPP benefits for Schedule C business owners
On March 3, SBA released the latest guidance, benefitting specifically Schedule C filers (NOT S corps or partnerships). Here it is, in a...
Feb 26, 20212 min read
Mom & Pop Businesses Move to Front of the Line for PPP Loans
At the direction of the White House and effective on Wednesday, February 24, 2021, the SBA will establish a 14-day, exclusive PPP loan...
Feb 22, 20211 min read
Biden-Harris modifications to PPP program
Today, the Biden-Harris administration announced the following modifications to the PPP program: Institute a 14-day period, starting...
Jan 21, 20211 min read
PPP Simplified Loan Forgiveness
Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is a...
Jan 20, 20212 min read
PPP Loan Forgiveness
Congress passed, and President Trump signed, the Consolidated Appropriations Act, 2021. Included in its approximately 5,600 pages is a...
Jan 19, 20212 min read
PPP Maximum Loan Amounts
The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second...
Jan 14, 20212 min read
Clarification of Tax Treatment of Covered Loan Forgiveness Expenses
After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters,...
Jan 12, 20212 min read
Paycheck Protection Program (PPP) Loans & Small Business Support
After several months of the Republicans and Democrats not being able to agree on additional COVID-related tax relief and other matters,...
Dec 22, 20201 min read
COVID-19 Relief Bill Update
On December 21, Congress passed a much needed COVID-19 relief bill and the President is expected to sign the bill today. The key points...
Nov 25, 20201 min read
Though IRS disallows deductibility of expenses with PPP loan proceeds, they also issue a safe harbor
Previously we shared that the IRS will disallow deductible expenses for businesses with PPP loans and to write your congressional...
Nov 24, 20201 min read
Small business owners influence congressional representatives
With the debate between Congress and IRS continuing, this an opportune time for small business owners to try to influence congressional...
Nov 23, 20201 min read
Congress battles with IRS regarding deductibility of forgiven PPP loans
In response to the IRS ruling on the deductibility of forgiven PPP loans, Congress recently made a joint statement saying the Treasury is...
Nov 22, 20201 min read
IRS doubles down on nondeductibility of PPP-funded expenses
In guidance issued on Wednesday, November 18, IRS reiterated its position that taxpayers cannot claim a deduction for any otherwise...
Oct 29, 20203 min read
The SBA Issues a Simplified PPP Loan-Forgiveness Application
The whole process of obtaining a PPP loan and applying for forgiveness has been complicated from the start...
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