Don’t miss my new article! In the new COVID-19 relief law, lawmakers enacted some extremely important legislation. It was designed to provide tax relief during the devastating COVID-19 pandemic. Some of the relief came in the form of direct government financial assistance.Most of the provisions of the law came in the form of extra deductions or tax credits that put … [Read more...]
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Lawmakers Extend the Tax Extenders With the COVID-19 Relief Law
Okay. Let’s pretend you’re back in college and you have to turn in an essay to your professor by Monday. But you know that you can’t meet that deadline so you ask your prof for an extension. Well, that’s what lawmakers have done. They’ve granted themselves an extension (and didn’t even have to ask anyone for permission!) Here’s why lawmakers wanted to put things … [Read more...]
PPP Alert: New Shot for Your Tax-Free Cash
Did you get the free cash you were entitled to under the Paycheck Protection Program (PPP)? If you failed to apply for your money in the first round of the PPP payout, you missed a terrific opportunity. If that’s the case, Uncle Sam has some good news for you: Thanks to the new COVID-19 stimulus law, that took effect just days ago, you’ve got a second chance to get your … [Read more...]
New PPP Forgiveness Rules for Past, Current, and New PPP Money
These days, when all the news seems to be bad, here is some good news that you should know about. A new law, recently enacted by Congress, makes the Payroll Protection Plan (PPP) better than ever, and for everyone. That’s right. Thanks to the new law, you can get tax-free cash whether you’ve got A prior PPP loanA current PPP loan that’s outstandingA PPP loan that you’re … [Read more...]
Round 2: Additional Tax-Free PPP Money for You?
Did you get a nice pile of tax-free money by taking advantage of the first Paycheck Protection Program (PPP)? Well, here’s your chance to double dip! That’s right. Thanks to a recently-enacted law, you may qualify for a second round, a “second draw,” of PPP tax-free money. Yes. You do have to qualify for this second draw of cash, but there’s a pretty good chance you … [Read more...]