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...
by Andrews Tax Accounting & Bookkeeping | May 22, 2020 | Educational
Eligibility And Benefits If you were laid-off, furloughed or your place of business shut down due to COVID-19, you are eligible for unemployment benefits from Washington state and the federal government. The Employment Security Department (ESD) of Washington State has...
by Andrews Tax Accounting & Bookkeeping | May 21, 2020 | Educational
Forgiveness Finalized? The Small Business Administration (SBA) has finally decided on the rules it will use to determine the Paycheck Protection Program (PPP) loan forgiveness. The SBA has published an application that borrowers will use to ask their lender to remove...
by Andrews Tax Accounting & Bookkeeping | May 16, 2020 | Educational
PPP Loan Forgiveness Updates A stipulation to have a PPP loan forgiven is to prove COVID-19 has had a negative impact no your business. Recently this condition was nullified for small businesses with PPP loans less than $2 million. Other conditions still hold though....
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