by Andrews Tax Accounting & Bookkeeping | Oct 14, 2020 | Educational
New PPP Forgiveness Application for Loans Under $50K The Small Business Administration has released a new simplified PPP forgiveness form this week. Companies that borrowed $50,000 or less can now complete a one-page form that skips some calculations that made earlier...
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 | 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 | 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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