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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.
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Congress also authorized a second option to help employersā€”an employee retention credit fully refundable against the businessā€™s payroll tax lia...
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.Ā But that's exactly what I'm asking you to do as you read this article, so please sit back (hopefully with a cup...
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 recipie...
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