It has become clear during the PPP loan process that having a strong tax professional helping with the application makes a difference. This was especially true for self-employed individuals who did not realize they were eligible until they spoke to their tax professional.
Now that the loans are funded, tax professionals should be key partners in documentation for loan forgiveness. While the SBA has not yet released guidelines for loan forgiveness, the tax community has started to interpret possible formulas for it. They know that their clients must use the proceeds in the prescribed manner in order to get the maximum possible forgiveness.
Great advice and concur... have a trusted tax professional or CPA on your team!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lakers return federal relief loan funds amid coronavirus lockdownThe Los Angeles Lakers returned a loan obtained through the U.S. government's Paycheck Protection Program (PPP), the team confirmed on Monday, after learning that funds in the federal program had been depleted. You have got to be kidding me. Meanwhile, small businesses are being denied loans or miss out because of the mad rush by Ruth’s Chris, Shake Shack, and the Lakers?!?! Their arena looks like a giant Fleshlight. No wonder the fund run out that fast.
Source: Reuters - 🏆 2. / 97 Read more »
Los Angeles Lakers Received and Returned Their Coronavirus LoanThe Los Angeles Lakers received and then returned a loan from the federal government’s Paycheck Protection Program for small businesses, the team said. Its become very apparent the banksters cannot be trusted. 5 Million Dollars For Small business You Yellow Purple Ass holes 😡 Thank you Lakers for returning the money.
Source: WSJ - 🏆 98. / 63 Read more »
Small-business loan program resumes with new funding as the Lakers return money received in first trancheDespite early glitches and overwhelming demand, the Small Business Administration processed more than 100,000 Paycheck Protection Program loans by more than 4,000 lenders. I totally cannot believe the Lakers took money? Seriously? 55,000 Americans dead and the Lakers do a money grab? Wtf? AEG who owns part of the team is a multi billon dollar company. The Lakers shouldn’t have gotten a dime. Or this
Source: L.A. Times Health - 🏆 364. / 59 Read more »