The Small Business Administration (SBA) announced that PPP loans reopened the week of January 11. Here’s a look at the tax consequences.
PPP Loans Reopen: Tax Consequences Change
Tag: CARES Act
PPP Guidance Issued for Second-Draw PPP Loans
New guidance for the PPP program has been released related to second-draw PPP loans that were authorized by the Consolidated Appropriations Act.
First-Year Bonus Depreciation for QIP: Is it Better than 15-Year Depreciation?
Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property and first-year bonus depreciation.
3 CARES Act Modifications that Ease Rules for Some Tax Losses
The CARES Act eases the rules for claiming certain tax losses and liberalizes rules for NOL carryforwards. Here’s a look at the modifications.
Business Interest Expense Limitations Relaxed by CARES Act
The CARES Act temporarily relaxes the limitation on deductions for business interest expense. Here’s the story.
3 Year-End Tax Planning Tips
As the year draws to a close, year-end tax planning may be more important than ever before. Here are three strategies to consider.
Excess Business Loss Limits Change with CARES Act
The CARES Act made changes to excess business losses, including some changes that are retroactive and some that may create opportunities to file an amended return.
What Does the Payroll Tax Deferral Mean for Your Business?
On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people.
3 CARES Act Provisions for Retirement Accounts
A few provisions of the CARES Act have provided some financial relief to retirees and retirement savers. Here are three highlights.
What are the Tax Consequences of a PPP Loan?
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax …