IRS Destroy Tax Deductions

New IRS Efforts To Destroy Tax Deductions For PPP Paid Expenses

From what we know, when lawmakers originally passed the Paycheck Protection Program (PPP), they thought that under its provisions, you did not pay taxes on the forgiveness amount, and you also could deduct the expenses that you paid with the PPP money. Fly in the Ointment In late April, the IRS issued Notice 2020-32, which …

New IRS Efforts To Destroy Tax Deductions For PPP Paid Expenses Read More »

IRS Destroy Tax Deductions
7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)

7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)

Small Business Administration (SBA) Economic Injury Disaster Loans (EIDLs) can be a great source of low-interest funding for businesses struggling with the economic impact of the COVID-19 pandemic. Unlike Payroll Protection Program (PPP) loans, EIDLs are not forgivable—borrowers have to pay them back. But they have a low 3.75 percent interest rate and a long …

7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL) Read More »

7 THINGS TO KNOW ABOUT YOUR SBA ECONOMIC INJURY DISASTER LOAN (EIDL)
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