by Sal Schibell | Dec 28, 2020 | News, Press Release
Internal Revenue Service agrees to the Deductibility of Certain State payments made by Pass through Entities (Partnerships and S corporations) Background The Tax Cuts and Jobs Act that was passed into law on December 2017, effective for tax years commencing...
by Sal Schibell | Dec 28, 2020 | News, Press Release
The IRS just released Revenue Ruling 2020-27 and Revenue Procedure 2020-51 to clarify the rules for deducting expenses paid with PPP funds. But here we are at the end of the year, and most borrowers have not even applied for forgiveness. A change in government...
by Sal Schibell | Dec 28, 2020 | News, Press Release
The Paycheck Protection Program: How to Qualify for Loan Forgiveness. October has started the loan forgiveness approvals. And where are you at with this? Have you spent 60% of your loan on payroll? If not, what are the eligible and allowable expenses? Do you have your...
by Sal Schibell | May 22, 2020 | News, Press Release
A Quick Paycheck Protection Program Refresher bring everyone up to speed, a quick refresher. If your small business was slammed by the Covid 19 crisis, you theoretically could obtain a “paycheck protection program” loan-a PPP loan-equal to 2.5 times your...
by Sal Schibell | May 19, 2020 | News, Press Release
Worried about your PPP certification? Stop. Should you keep the PPP money? For one thing, you probably need the money. What the Paycheck Protection Program Laws Say; The law passed by Congress and signed by the President—says this: An eligible recipient applying for a...
