PPP 2nd Draw OK Before 1st Loan Forgiveness
Steel Rose
Second Draw Loan Terms The terms of Second Draw Loans are the same as for First Draw Loans: 100% SBA guaranteed No collateral required No personal guarantees required 1% interest rate (calculated on a non-compounding, non-adjustable basis) Five-year maturity All guidance issued in connection with First Draw Loans applies to Second Draw Loans, except as specified in...
MORERecord Equity Crowdfunding on the Web May Double in 2021
Crowdfund Capital Advisors (CCA) has shared data pertaining to Regulation Crowdfunding or Reg CF in the US. The smallest exemption facilitating…
Employee Retention Credits (ERC) for CPAs
The Consolidated Appropriations Act, 2021, P.L. 116-260, extends the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, ERC…
Correction of Forms 1099-MISC for Certain CARES Act Subsidized Loan Payments
The IRS instructed lenders not to report loan relief payments made by the Small Business Administration under Section 1112(c) of…
Deductions & Energy Credits Extended by Appropriations Act
Charitable Contribution Deduction The Act extends through 2021 the $300 ($600 for joint return filers) above-the-line charitable contribution deduction for qualified…
Stimulus Check Won't Increase Federal or State Taxes on Social Security Benefits
Let's start by explaining how Uncle Sam taxes Social Security benefits. The federal government can tax up to 85% of…
Deferred 4th Qtr Payroll Taxes Extended to 12/31/21
Notice 2021-11 I. PURPOSE Pursuant to section 274 of the COVID-related Tax Relief Act of 2020, which was enacted as Subtitle B…
PPP2 Loan Deadline is March 31
Loan Forgiveness The Act clarifies that for PPP loans of $150,000 or less, the borrower will complete a simplified, one-page loan…
Tax Policy Priorities of Biden and Democrats as Currently Known
Key components of the Biden campaign’s tax proposals include: To read more click here
Biden Tax Increase Proposals: Sec.199A Phase Out
This blog summarizes some of the tax proposals of President-elect Joe Biden and other prominent Democrats. Increased Individual Tax Rate Biden would…
