Chicago Accounting Articles

Status Update On SBA Programs

We are still getting questions about what is still available, so here’s an update on the major programs. PPP Loan Program The portal is officially closed. The PPP Loan Program has officially ended. Nothing, nada, zilch is available. EIDL Grants Still available....

The New Administration’s Tax Proposal

The New Administration’s Tax Proposal We knew it was coming. Some of it’s good and some of it’s bad, depending on your perspective. Let me emphasize that this is only a proposal. Many look at it as a guide book for where the administration’s...

Last Chance PPP Lending

Applications for the final round of PPP lending will be accepted until Monday, May 31st. The Government is reporting that about $3B is left out of the $800B program. Over the course of the program the SBA has approved 11B loans. There are only a few community and...

Employee Retention Credit Update

We are continuing to get questions about this program, probably because the PPP money has been exhausted and the EIDL money is so hard to get. So let’s go back over the basics. Do I Qualify? If your business was hindered by the pandemic, such as not being able...

The Coming Real Estate Recession

People in real estate circles have been talking about this for some time. We all expected it to happen last year, but then the pandemic hit and the government started pumping money into the economy. That action has postponed what many know will happen. One might look...

PPP Loan Appeal Forgiveness Process Part 2

So you’ve received a negative response from the SBA on your loan review, what happens next? Appeal Submission Deadline You have thirty days from either receiving the SBA Loan Review Decision or notification from your lender of the negative review to file your...