PPP Forgiveness and Your Taxes
Monday, May 04
Well, if you were wise, you probably saw this coming. Turns out ... if you received a PPP loan, that the expenses you pay from the proceeds of this (forgivable) loan ... are not deductible for businesses. Ouch. The IRS just released new guidance to this end (which is being protested by CPA associ...
Seperating Myth From Fact
Monday, May 04
Now, more than ever, it's important to keep your mind clear. With so many of us spending more time than ever online and on our devices, there are even more opportunities for falling -- no, DIVING -- into rabbit holes of distraction and unproductive emotion. I ran across this website, over the we...
The Next Phase Begins...NOW
Monday, April 27
The second round of PPP funding began this Monday at 9:30AM Eastern. This funding was $322B (as opposed to the first at around $349B). The first round of $349B funded 1.6MM businesses. As for those who were waiting on that first round, the SBA hasn't shared recent numbers, but the last time they ...
Scammers Are Everywhere Right Now
Monday, April 27
Anytime (like now) that there is a rollout of government assistance, you can count on two things: 1) Bumps in the road (it's hard to manage many millions of people needing help) 2) SCAMS I haven't yet heard of any of my clients or friends being taken in by this stuff, but I did want to aler...
Alert, PPP May Bite--There Are Rules You MUST Abide
Monday, April 20
I promise that one day I'll write to you and my readers about matters other than government aid, the CARES Act, PPP/EIDL, and whatnot. But as we all keep saying: these are extraordinary times. Pick your cliche -- it all fits right now. But here is a piece of semi-urgent news: It looks like there ...
Beware the Traps and Snares Ahead
Monday, April 20
So, you got that stimulus check (or, as the government wants to call it, your "Economic Stimulus Payment")... What next? Please use these funds wisely. If I could sum up my advice for next steps, it would be this: act like you did NOT receive this payment. And, yes ... some of you have not yet re...