It’s true. Forgivable Payroll Protection Program (PPP) loans are no longer available right now. But this doesn’t mean you can’t get financial assistance that can help you weather the COVID-19 storm. You see, another source of relatively cheap money is available right now thanks to the Economic Injury Disaster Loan (EIDL) program. It’s administered by the Small Business … [Read more...]
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Seven Things to Know Before You Take Out an EIDL
Does your business need working capital due to the terrible impact of the COVID-19 pandemic? If yes, consider taking out a Small Business Administration (SBA) EIDL loan. EIDL stands for the Economic Injury Disaster Loan program and it can provide up to $150,000 to businesses in need. But be aware. Although the EIDL can provide you with much needed capital, it’s a … [Read more...]
Raise Hell: Help Lawmakers Make PPP Expenses Tax Deductible
Yes. The Payroll Protection Program (PPP) is a tremendous help to businesses affected by the COVID-19 pandemic. As you may have discovered for yourself, it’s great to see PPP money flowing into your bank account. What’s not so great are IRS loan-forgiveness rules that, frankly, are very unfair. We’ll give you all the details when you read the full article titled Tax … [Read more...]
Four PPP Forgiveness Answers for S Corporation Owner-Employees
The IRS often spells out its laws and rules in minute detail. But not so much when it comes to the SBA which governs the Payroll Protection Program (PPP). That’s why S corporation owners are confused, and have important questions about the rules that apply to their businesses. Well, in this issue of the Tax Reduction Letter, we’ll provide straight answers to questions … [Read more...]
Four Insights into the PPP Loan and Its Forgiveness
Let’s face it… Applying for a Payroll Protection Program (PPP) loan, and receiving repayment-forgiveness, can be complicated. That’s why reading my new article is so important. You see, it’s designed to give you insight into how the PPP works and the difference between: * The PPP program* Economic Injury Disaster Loan (EIDL)* Economic Injury Disaster Loan (EIDL) … [Read more...]