Chicago Accounting Articles

SBA Opens PPP Loan Forgiveness Portal

The Small Business Administration is launching an application portal that allows PPP Loan Customers who have a loan amount below $150K to apply for forgiveness directly with the SBA. This will supposedly streamline the forgiveness process and make it easier for...

Real Estate And The New Administration’s Tax Plan

There are two major changes in the proposed tax plan that would make real estate investment much less attractive. Increases on Capital Gains The New Administration has proposed raising the capital gains tax rate to 39.6% on taxpayers earning more than $1M in a given...

EIDL Loan Process Becomes Impossibly Difficult

Earlier this year, as the pandemic stretched past it’s first year, the SBA announced that it was increasing the loan limit on the popular EIDL from $150K to $500K. What they didn’t tell anyone was how difficult it would be to receive the increased funding....

Other SBA Grant Programs That Are Available

Now that most of the C-19 Stimulus Money has shut down, I wanted to write about a couple of other SBA Programs that may be of interest. America’s Seed Fund This grant program is open to early-stage companies that need to prove their technology and find their...

Your Quarterly Payroll Tax Returns

The deadline for filing is approaching on August 2nd, and I don’t want anyone to miss it, being forced to pay penalties. We have contacted all of you in the past in reference to this, so the following should just be a refresher. 1 – If you are a Salary...

Details Emerge on SBA’s New PPP Loan Forgiveness Portal

The Small Business Administration is now finalizing aspects of it’s upcoming loan forgiveness portal which is slated for a rollout near the end of August. Details on the platform are available given the documentation the SBA has published online for application...