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Blog Image: PPP Flexibility Act is Unclear, Especially Regarding Owner Compensation Replacement

PPP Flexibility Act is Unclear, Especially Regarding Owner Compensation Replacement

As you may know, the PPPFA (PPP Flexibility Act) was signed into law Friday. Unfortunately, the new regulations raise more questions than they answer regarding the law's application to the self-employed. Below is a summary of the changes; however if you are self-employed, I would advise you to stick to the original rules until there is clarification. The original regs are likely to get a self-employed individual a good percentage of loan forgiveness and it is not yet clear whether the new ratio of payroll/other expenses even applies to "owner compensation replaceme...

June 8th, 2020 PPP Flexibility Act is Unclear, Especially Regarding Owner Compensation Replacement

Blog Image: Small Business Resources for These Uncertain Economic Times

Small Business Resources for These Uncertain Economic Times

I think it’s fair to say we were all disappointed that the loans in the first round of the multi-billion dollar Paycheck Protection Program didn't last longer. But I have to add it was surprising how quickly the next round was rolled out! Whether or not you're a recipient of a stimulus loan, there are other provisions and resources designed to help us in these uncertain economic times. The Coronavirus stimulus pushed the federal income tax deadline to July 15, sent non-taxable Economic Impact Payments to most Americans and expanded the Family Medical Leave Act to ens...

April 24th, 2020 | small business, small business support, Small business resources, COVID-19 Resources, CARES Act, Coronavirus Resources, Small Business Resources for These Uncertain Economic Times