Deductibility of PPP Loan Expenses
IRS Guidance on Deductibility of PPP Loan Expenses The IRS recently issued Revenue Ruling 2020-27 that states that expenses paid using PPP funds are not deductible in 2020 if there is...
23 November, 2020
PPP Loan Tag
Simpler PPP Forgiveness for Loans of $50,000 or Less
On October 8, 2020, The U.S. Small Business Administration, in consultation with the Treasury Department, released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or...
12 October, 2020
Oct PPP Loan Forgiveness Update
October 5, 2020 - The SBA’s PPP loan was likely a lifesaver to your business, and the next step is to apply for loan forgiveness with the bank that processed...
05 October, 2020
Cybercriminals and SBA Loans
Cybercriminals have had a field day with COVID-19. Many have used the outbreak to create malware associated with the virus. They spoof organizations involved in relief efforts, whether medical or...
24 August, 2020
New PPP Guidance and Lender Forgiveness Portal
Authored by RSM US LLP SBA releases additional PPP guidance/opens lender forgiveness portal. On Aug. 10, 2020 the Small Business Administration (SBA) Paycheck Protection Program (PPP) Forgiveness Platform went live. This...
17 August, 2020
PPP Automatic Forgiveness for Loans Under $150,000
There have been 50 major changes to the PPP Loans since it first passed. The latest bill provides for automatic forgiveness of a paycheck protection loan that is $150,000 or...
30 June, 2020
PPP Loan Forgiveness Updates
On June 17, the SBA released a new EZ version of the PPP forgiveness application. The EZ application requires fewer calculations and less documentation for eligible borrowers. View the EZ...
24 June, 2020
Senate Approves PPP Loan Modification Rules
Late Wednesday June 3, 2020 the US Senate backed the Paycheck Protection Program Flexibility Act of 2020, the House passed this bill on May 28th and it is now with...
04 June, 2020