Small Businesses get a second shot at PPP Loan.

https://www.nytimes.com/2020/12/21/business/stimulus-paycheck-protection-program.html?fbclid=IwAR02iBb9con9lNaREgqqXLFrjLLBpyDP9SsiKsy9LJ_zem6MebscRRG9dfg This article outlines the rules for the second PPP Loan. The new relief bill offers a second cash infusion for those who meet stricter terms: Borrowers with fewer than 300 employees that had a 25% drop in sales from a year earlier in at least one quarter could qualify for an additional loan of […]

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PPP Loan Update

Whether expenses paid with PPP funds are deductible or not is an issue that is still undecided. https://www.journalofaccountancy.com/news/2020/dec/expenses-used-for-ppp-loan-forgiveness-deductible-or-not.html?fbclid=IwAR0ER6d43YfrbvhtSvwYr-n8CxvQvGZ25A-T7N5xqSBoIHG_Zh9BKpx5QS0  

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New FAQs address PPP loan forgiveness issues

The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance Tuesday answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans.

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