by Andrews Tax Accounting & Bookkeeping | Jul 9, 2020 | Educational
Feds May Simplify PPP Forgiveness Last week, the Senate approved an act that would streamline the PPP forgiveness process. The good news? The act would reduce the forgiveness application to one page for loans under $150,000. This new application would basically be...
by Andrews Tax Accounting & Bookkeeping | Jul 3, 2020 | Educational
An Extension To The PPP Deadline The deadline to apply for the Paycheck Protection Program was supposed to expire on June 30th, but Congress unanimously agreed to extend the deadline to August 8th. Since more than $100 billion is still available in the PPP fund, it is...
by Andrews Tax Accounting & Bookkeeping | Jun 26, 2020 | Educational
Do You Qualify For The EZ Form? If one of the following scenarios applies to you, then you can submit the PPP EZ forgiveness application: You are self-employed with no employeesYou did not reduce your employees hours or reduce salaries by more than 25% (in the period...
by Andrews Tax Accounting & Bookkeeping | Jun 12, 2020 | Educational
Possible Changes About $670 billion was put into funding PPP loans for small businesses. As of this week, about $130 billion still remains unused. With the job growth in May, the Treasury Secretary has stated that the SBA will be relaxing who is restricted from...
by Andrews Tax Accounting & Bookkeeping | Jun 5, 2020 | Educational
PPP Forgiveness Rules When it comes to succeeding in getting your Paycheck Protection Program (PPP) loan forgiven, the government has repeatedly moved the goalposts. Now they’ve moved the goalposts to an entirely different stadium, but the good news is it’s a stadium...
by Andrews Tax Accounting & Bookkeeping | May 29, 2020 | Educational
The Legislative Branch Yesterday, the Paycheck Protection Flexibility Act, a bipartisan bill, passed in the House of Representatives. The bill is expected to pass in the Senate, as well. Two Big Changes The first change to PPP loan forgiveness involves the period in...
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