If you received an initial PPP loan, you can qualify for a second round (called a “second draw”) of PPP tax-free money. To qualify for the second-draw PPP money, you must…
TAX-SAVING TIPS 1. Good News If Your PPP Loan Is for $50,000 or Less 2. Four Things to Know When Hiring Your Spouse 3. New IRS Efforts to Destroy Tax Deductions for PPP Paid Expenses 4. The IRS Goes Easy on Taxpayers Who Owe Back Taxes 5. Tax-Smart College Savings Strategies for Parents
STILL TIME TO GET $150,000 FROM THE SBA $150,000 from the SBA 1.Do You Qualify for an EIDL? 2.How Much Can You Borrow? 3. What Are the Loan Terms? 4. How Do You Apply? 5. Do You Need to Have Collateral or Make Guarantees?
2020 LAST-MINUTE YEAR END GERNERAL BUSINESS Income Tax Deductions 1. Prepay Expenses Using the IRS Safe Harbor 2. Stop Billing Customers, Clients, and Patients 3. Buy Office Equipment 4. Use Your Credit Cards 5. Don’t Assume You Are Taking Too Many Deductions
SPENDING THE PPP MONEY ON YOU AND YOUR EMPLOYEES 1. Paying Myself 2. Waiting to Spend 3. Spending in Chunks 4. Got the PPP Money but Had a Loss in 2019
THE LATEST ON PAYROOL TAX DEFERRAL 1. Which Taxes Can Be Deferred? 2. Which Employees Qualify for the Deferral? 3. Is the Deferral Mandatory? 4.What Happens When the Deferral Period Ends? 5. What If Employees Quit or Get Fired?
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