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Tag Archives: ppp

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  • Posts tagged "ppp"
13
Oct, 2020
Emerald Financial Business,Financial Strategies,News & Events,Paycheck Protection Program,Self-Employed,Tax Changes paycheck protection program, ppp

Some PPP Forgiveness News…

You might have seen some rumors on this already, but I wanted to help make everything clear for you…

A few weeks back I told you that there were some tax professional rumors circulating about “automatic forgiveness” for PPP loans… Read More

7
Jul, 2020
Will PPP Loans be taxable?
Emerald Financial Business,Paycheck Protection Program,Tax Changes paycheck protection program, ppp

Will PPP Loans and EIDL Advance be Taxable?

PPP Loans

The IRS has clarified that if your loan money is forgiven, it won’t be considered taxable income. BUT, nor will it be eligible for tax deductions, even though you likely used it for expenses that normally would be … Read More

6
Jul, 2020
loan forgiveness payment protection program
Emerald Financial Business,Paycheck Protection Program,Remote CFO paycheck protection program, ppp

PPP Loan Forgiveness Applications Due Dec. 31, 2020 – But Please Don’t Wait Until the Last Minute!

While the deadline gives everyone some breathing room, there are several different permutations that will be calculated to determine the best way for you to file for forgiveness. And there will be a flood of applicants at the end of … Read More

23
Jun, 2020
loan forgiveness payment protection program
Emerald Financial Business,Paycheck Protection Program paycheck protection program, ppp

More PPP Guidance Released by the SBA

The SBA has issued more clarifications on the PPP… YES, it continues to get more complex. See the details below and please contact us if you have questions about how (and when) to best document, calculate and submit your Loan

… Read More
17
Jun, 2020
Emerald Financial Business,Paycheck Protection Program,Remote CFO paycheck protection program, ppp

Every Small Business Owner Needs a CFO – Especially Now

As a small business owner, you may not feel you can justify the expense of a full time CFO. But there are times you absolutely need someone with a trained financial mind to help you make big decisions, plan for … Read More

10
Jun, 2020
loan forgiveness payment protection program
Emerald Financial Business,Paycheck Protection Program paycheck protection program, ppp

SBA Clarifies Last Week’s PPP Legislation

When the latest PPP legislation passed last week, it eased a number of restrictions, making far easier for businesses to qualify for loan forgiveness. While the 75% requirement for payroll had been reduced to 60%, the original wording implied that
… Read More
9
Jun, 2020
loan forgiveness payment protection program
Emerald Financial Paycheck Protection Program paycheck protection program, ppp

PPP Restrictions Eased – New Legislation Just Passed

GREAT news if you have a PPP loan or are still considering applying for one. 

Congress moved quickly this week, and the president JUST signed it into law. We share the highlights of the new legislation below.

Please contact us … Read More

18
May, 2020
loan forgiveness payment protection program
Emerald Financial Paycheck Protection Program paycheck protection program, ppp

SBA Releases PPP Loan Forgiveness Application – Key Takeaways

The SBA has released the much-anticipated form for businesses to apply for PPP Loan Forgiveness. The 11-page application goes a long way to resolve many of the questions and concerns businesses had anxiously wondered about loan forgiveness. At Emerald Financial

… Read More
14
May, 2020
loan forgiveness payment protection program
Emerald Financial Paycheck Protection Program paycheck protection program, ppp

Less than $2 Million Borrowed? Yes, You Meet the Good-Faith Certification Test

Many business owners were nervous about taking the PPP loan because it was unclear if you could demonstrate the need for a loan if you had reserves to get through the crisis without it. The SBA has now made it … Read More

5
May, 2020
loan forgiveness payment protection program
Emerald Financial Business,News & Events,Paycheck Protection Program paycheck protection program, ppp

Loan Forgiveness under PPP Loan Provisions

Well, you probably saw this coming…

Turns out … if you received a PPP loan, the expenses you pay from the proceeds of this (forgivable) loan … are not deductible.

Ouch.

The IRS just released new guidance to this … Read More

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