Lenders have now opened the second round of PPP loans to eligible business that have at least 25% reduction in gross receipts for any one quarter of 2020 comparable to the same quarter in 2019. This could be great news for those that may need extra assistance.
Please find more information by clicking the below.
More great news!! Further clarification from the Consolidated Appropriations Act of 2021 states that the amount forgiven from your PPP loan will not reduce your expenses. This is an amazing benefit that affectively allows you to double dip. Tax free income and deductible expenses from the same money.
As always, contact us with any questions or concerns you may have. We are here to help!