by Jonathan Bill | Feb 25, 2021 | COVID-19, Small Business, Tax Season
I f you’re a sole proprietor, independent contractor or owner of a very small business, now’s your time to apply for a Paycheck Protection Program (PPP) loan. Thanks to a temporary rule change by the Biden Administration, the SBA will ONLY accept applications for PPP...
by Jonathan Bill | Jan 29, 2021 | Biz Taxes, COVID-19, Small Business, Tax Season
T/he SBA recently reopened the Paycheck Protection Program for both “First Draw” and “Second Draw” PPP loans for eligible small businesses. This second go-round is intended to make PPP loans more flexible, helpful and accessible, especially to hard-hit restaurants....
by Jonathan Bill | Dec 30, 2020 | Biz Taxes, COVID-19, GA Taxes, Small Business
On December 27, 2020, President Trump signed into law the newest $900 billion COVID-19 relief bill. The legislation, part of the Consolidated Appropriations Act, 2021, provides additional pandemic relief and clarifies the deductibility of business expenses paid with...
by Jonathan Bill | Nov 20, 2020 | COVID-19, Small Business, Tax Season
When the Tax Cuts and Jobs Act (TCJA) was passed in 2017, it changed the way charitable contributions were handled at tax time. Basically, you can only deduct donations to charity if you itemize your deductions. And the TCJA makes itemizing less enticing for most...
by Jonathan Bill | Oct 8, 2020 | Biz Taxes, COVID-19, Small Business
I f you were among the first to receive a Paycheck Protection Program (PPP) loan, you may have recently received a notice from your lender that payment was due. This is because those early loans generally provided for a six-month deferral period. However, the SBA just...
