Did you take advantage of the much-needed Payroll Protection Plan (PPP) that expired on August 8, 2020?
As you may remember, the PPP program provided cash infusions to businesses that suffered during the COVID-19 pandemic.
Did you miss the boat and fail to get your fair share of the PPP program money? Well, it’s not to late!
If you didn’t get the money you were entitled to,
Uncle Sam has some good news for you:
If you act promptly, you may well qualify for a PPP loan right now. (The new law creates for those who missed the first time a new opportunity called a “first draw.”)
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Don’t freak when you here the word “loan”
Technically your cash comes from a lender, but don’t panic! By law, your loan will be forgiven and you won’t owe anyone a penny. Loan forgiveness is baked right into the PPP plan! Plus, the expenses paid with a PPP-forgiven loan are tax deductible.
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Don’t miss out again on your chance to get free money from Uncle Sam.
To get the whole story…
Who Qualifies for First-Draw PPP Money Today?
Three ways our fact-filled article can help you:
- We’ll tell you if you’re eligible to get free PPP money. You’ll qualify if you meet any one of these six criteria:
- You file your taxes on Schedule C of your tax return. Businesses who file on Schedule C include independent contractors, single-member LLCs, proprietorships, and statutory employees.
- You file your taxes on Schedule F (ranchers and farmers).
- You are a general partner in a partnership, but the partnership asks for and receives the money based on your (and the other partners) combined self-employment incomes, as adjusted.
- You operate as an S corporation.
- You operate as a C corporation.
- You are the only worker in the business—and if you have employees in the business, you qualify on both your ownership worker-status and your employees’ W-2 status.
You’ll get the whole story when you read the full article.
- We’ll show you how the program works for several forms of business organizations including:
- Form 1040 Schedule C Business with No Employees
- Form 1040 Schedule F Business with No Employees
- Partnership with No Employees
- S Corporation with Owner-Employee Only
- C Corporation with Owner-Employee Only
You’ll get full details when you read the full article.
- We’ll tell you why it’s so important to act NOW. The deadline for making your application for your cash (which is easy to do) is March 31, 2021. This sounds like a lot of time, but remember . . . the money available in this new round of funding is doled out on a first-come, first-served basis. So don’t put if off. Now is the time to apply. We’ll give you complete, important information when you…