The SBA released two loan necessity questionnaires for Paycheck Protection Program (PPP) borrowers who received PPP loans totaling $2 million or more.Read More
Archive for the ‘CARES Act’ Category
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Offer FSAs to Employees? You May Need to Act Before Year End
If you offer employees FSAs, it’s important to keep abreast of the latest changes, including those made by the CARES Act.Read More
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5 Key Points About Bonus Depreciation
Depreciating assets involves a complex area of tax law with implications for transactions other than simple asset acquisitions.Read More
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CARES Act Made Changes to Excess Business Losses
If you hold an interest in a business, or may do so in the future, be aware that the CARES Act has made changes to excess business losses.Read More
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Taxes on Roth IRA Withdrawals Today
In the COVID-19 era, one possible source of extra cash is your Roth IRA. But, beware, some Roth account withdrawals may not be tax-free.Read More
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The Possible Tax Consequences of PPP Loans
Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.Read More
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Cares Act Provisions May Boost Cash Flow
Here are CARES Act provisions that can help construction companies (and other businesses) reduce their tax bills and, thereby, boost their cash flows.Read More
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Applying for PPP Loan Forgiveness Early
Interim guidance released by the Treasury and SBA declare PPP recipients can apply for PPP loan forgiveness before the end of their Covered Period.Read More
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Paycheck Protection Program Flexibility Act (PPPFA)
The Paycheck Protection Program Flexibility Act (PPPFA) aims to make it easier for PPP loan borrowers to receive forgiveness. Here are the key points.Read More
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Fortunate Enough to Get a PPP Loan? Forgiven Expenses Aren’t Deductible
If you get a PPP loan and use the proceeds on certain expenses, the loan amount will be forgiven. Can you then deduct the expenses on your tax return?Read More