Changes In PPP2 Loan Forgiveness

The changes keep coming. Just when I thought I was going to run out of things to write about, here’s even more new developments. No End Date For Forgiveness Borrowers have until March 31, 2021 to apply for a first or second draw, but no ending date has been set...

PPP2 Loan Applications Now Open

Today, the SBA began accepting applications from entities applying for the second round of PPP Lending. Here are the answers to some commonly asked questions. Is there anything different about the application process? Not much. The new application has questions to...

PPP2 Loan Applications Released

PPP2 Loan Applications Released The SBA released loan applications for the PPP2 reboot. Applications open for first time borrowers on Monday and for second draw applicants this Wednesday. The applications can be found at the following web addresses. First Time...

PPP2 Expands Employee Retention Credit

Let’s begin by saying the White House just confirmed that PPP Loan applications will open beginning on Monday morning. There will be an ordering process on all applications. Only first-time applicants will be allowed to apply on Monday. Second draw applications...

PPP2 Creates 4th Quarter Planning Opportunities

Again, as I have mentioned in the past, all of this is just conjecture at this point. We are still waiting on final guidance from the SBA and the IRS. Given the fact that everything I’m about to say could turn into nothing but a great big bologna sandwich,...

PPP2 Loan Differences

There isn’t a lot of information coming out about the new bill that was signed into law. One would think that this is the only thing people can talk about, given the fact that there’s something in it for everyone. The problem is that the actual enactment...

Goodbye 2020

Let me leave you with this. How will you remember 2020? Was it a year where you spent most of it in constant fear? Did you spend every spare minute feeding those anxieties by watching CNN? Was it a year where your business was terribly interrupted by the pandemic....

President Signs New Stimulus Package

Details on this crazy thing remain sketchy. The bill is only 5,593 pages long. Since it’s all in legalese, it’s rather impossible to read and actually understand. I’m sure that I will be writing about this nightmare for the next month, but here are...

Year End Tax Planning Basics

This can be a difficult subject, depending on your needs. I’ve had conversations with most of you doing your year end tax planning, but would still like to go through some of the basics. One of the most fundamental jobs of any accountant is to help a client...

The Meaning of Christmas in Difficult Times

No matter what your individual religious beliefs happen to be, it’s difficult to not respect the accomplishments of Jesus Christ. The prophets foretold of his coming, saying he would be the Messiah to lead his people out of captivity. They were expecting a...