Qualifying small businesses can now apply for Paycheck Protection Program (PPP) loans through certain lenders. The Small Business Administration (SBA) reopened its PPP portal on January 11, 2021 after Congress passed and the President signed legislation in December 2020, authorizing the continuation of the program and an additional $284 billion in funds. The program allows […]
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act
The Consolidated Appropriations Act, 2021 (CAA 2021) became law on December 27, 2020, and among many other things, provided for a second round of potentially forgivable Paycheck Protection Program loans to small businesses that were financially impacted by the effects of the pandemic. The Act not only provides funds and guidelines for a round two […]
A New Round of Stimulus Checks
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 which included measures for both COVID-19 relief and sweeping funding provisions for the government through September 2021. While there are many sections of this law to explore, this article will focus on the stimulus checks. Qualifying individuals will receive these economic […]
How Does the Presidential Election Affect Your Taxes?
Many clients are asking us about whether their taxes will go up now that there will be a change in Presidents in January. The short answer is no. A US President does NOT have the power to raise or lower taxes. Period. That power is reserved for the legislative branch of the government. Only Congress […]
The Paycheck Protection Program (PPP) Loan and the Economic Injury Disaster (EIDL) Loan
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law, and one part of it includes two loan programs for small businesses. Paycheck Protection Program (PPP) Loan Owners of businesses, including nonprofits, with less than 500 employees that have been impacted financially due to the coronavirus can […]