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Tax strategies, business tips, and Quickbooks advice to help you save money on your tax bill and run your business efficiently!
Turbocharged Employee Retention Credit - With or Without PPP!
Oct 03, 2021
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When Congress passed the CARES Act in March 2020, most businesses took advantage of the Paycheck Protection Program (PPP) loan to help keep them afloat.
Congress also authorized a second option to help employers—an employee retention credit fully refundable against the...
PPP Loan Forgiveness Becomes Top of Mind for Business Owners
Dec 17, 2020
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This year has been a doozy for business owners and, with the end of it just around the corner the last thing you likely want to do is take a walk down memory lane through it's challenges. But that's exactly what I'm asking you to do as you read this article, so please sit back (hopefully...
IRS Destroys Deduction for PPP Paid Expenses
Dec 16, 2020
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When lawmakers originally passed the PPP they thought that under its provisions
- you did not pay taxes on the forgiveness amount, and
- you also could deduct the expenses that you paid with the PPP money.
Obstacle
In late April, the IRS issued Notice 2020-32, which asserts that PPP loan recipients...
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