PPP Loan Maximum Calculations for Nonprofits
The Consolidated Appropriations Act, 2021, created many new opportunities for New Jersey and Pennsylvania-area nonprofit organizations.
PPP Loan Accounting Guidance for Business Entities
Paycheck Protection Program (PPP) loans have been a lifeline for many businesses during the COVID-19 pandemic. Along with these much-needed funds comes the question of how to account for the loan proceeds and subsequent forgiveness of the loan.
SBA Releases Procedural Notice on PPP Loan Increases
By Klatzkin Tax Team
The expanded Paycheck Protection Program (PPP) reopened today for lenders with less than $1 billion in assets and will open for all other lenders on January 19, 2021. Certain existing PPP borrowers can apply in either application window for a first-draw or second-draw (PPP2) loan.
Second Draw PPP Loan Essentials
The Consolidated Appropriations Act, 2021 (CAA) was passed on December 27, 2020, and there has been anticipation surrounding changes to the Paycheck Protection Program (PPP).
PPP Loan Guidance Issued for First-Time Borrowers
By Klatzkin Tax Team
The Consolidated Appropriation Act, 2021 (CAA) made several changes to the Paycheck Protection Program (PPP) to streamline forgiveness and make loans available for certain businesses.
Individual Provisions of the COVID-19 Relief Bill
The long-awaited second round of COVID-19 relief has finally come to fruition. Earlier this week, President Trump signed the Consolidated Appropriations Act, 2021 (the Act) into law, providing needed relief for individual, non-profits organizations, and businesses.
COVID-19 Relief Bill Expands Business Tax Savings
By Klatzkin Tax Team
On December 27, 2020, President Trump delivered a late holiday gift to Princeton, Trenton, and other New Jersey-area businesses when he signed the COVID-19 relief bill into law.
COVID-19 Relief Bill Offers Welcome PPP Changes
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (H.R. 133), which includes providing the second COVID-19-related relief to help individuals and businesses through the pandemic.
More COVID-19 Relief for New Jersey and Pennsylvania Businesses
By Klatzkin Tax Team
Earlier today, Congress approved The Emergency Coronavirus Relief Act, which provides $900B in long-awaited economic stimulus and relief to both businesses and individuals.
New PPP Guidance Addresses Deductibility of Covered Expenses
For months before the Presidential election, Congress debated another round of Coronavirus aid to help individuals, businesses, and government agencies affected by the pandemic.