Recent News
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How does the new stimulus package affect the PPP Program?
Congress overwhelmingly passed a comprehensive COVID-19 relief bill Monday night. Of most interest to me, was how they addressed the Paycheck Protection Program. President Trump still has to sign the bill. Below are the key features of the legislation...
Can I Deduct the Expenses Paid with PPP Funds?
As the end of the 2020 calendar year and PPP covered period, many clients have questions concerning whether they can deduct the business expenses that they paid with PPP funds. This topic has been in the news frequently, and many hoped Congress would draft...
COVID-19 Relief
Will Trump's recent move involving COVID relief affect your business? After Congress failed to reach a consensus about the next phase of COVID-19 relief, Trump issued an executive order, which, among other things, suspended payroll tax for the American worker. That's...
PPP Updates, including Appeals, Allowable Expenses, and the New Congress Proposal
Waiting for additional guidelines before asking forgiveness for your PPP loan? We're still in the interim final rules phase, and banks are hesitant to accept applications for forgiveness just yet. The SBA guidelines from yesterday continue the trend of fewer and fewer...
What happens if I can’t pay my taxes by the deadline?
Tax returns are due Wednesday, July 15th. Unable to file your taxes by then? The Business Tax Ninja, Christy Lee, is here to explain how to file your taxes at a later date without penalties. Warning: an application extension is not the same thing as a payment...
Still More Changes to the Paycheck Protection Program Forgiveness Application
The government continues to release additional regulations about the Paycheck Protection Program, including how to apply for forgiveness, and what expenses qualify for forgiveness. In the most recent revisions to the regulation, we received answers to two of the...
Changes in the Paycheck Protection Program
Last week President Trump signed the Paycheck Protection Program Flexibility Act which brought significant changes to the Paycheck Protection Program, including extending the time period allowed for businesses to spend the proceeds. Many of these changes have been...
PPP: New Forgiveness Guidelines to Be “Promptly” Issued
Still hitting store after store in the Great COVID Hunt for Toilet Paper? Don’t get frustrated. Just substitute your PPP forgiveness application for those highly prized, soft-as-cloud white rolls. Why? The answer’s simple: On Monday, June 8, the Trump...
It’s Nearly the End of May 2020. Do You Know Where Your Taxes Are?
I’ve been so busy hunkering down with my comfy doggie blankie, I missed the fact that it’s almost June – more than halfway through the second quarter of 2020. Usually by this time of the year, I’ve already run some figures to see if I’m having the right number...