Three credits available for businesses. Three new credits are available to many businesses hit by COVID-19. Employee Retention Credit: The employee retention credit is designed to encourage businesses to keep employees on their payroll. Also, the refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Qualifying employers must fall into one of two categories: The employer’s business is fully or
So You Got Your PPP Loan. What’s Next? You just got the email that your Paycheck Protection Program (PPP) loan was approved—congrats! Getting this far is a major accomplishment and warrants some serious celebration (homemade frosé anyone?). But being approved for a loan is just the start of your PPP journey. Now, it’s time to strategize how you’ll use the funds to keep your business going while ensuring that you qualify for loan forgiveness. Below, we’ve put
Solving Problems with your Payroll Protection Program Loan Application. Source free money to help your business survive. Many small businesses have their Payroll Protection Program Loan (PPP Loans) applications already approved by their bank and the Small Business Association (SBA). However, there are just as many small businesses that are confused, frustrated, and stuck! Here are some ideas to help with the Payroll Protection Program Loan (PPP Loans): Background As part of the coronavirus stimulus package,
Business Provisions – Paycheck Protection Program and Forgivable Loans The Paycheck Protection Program is a loan program that allows lenders to issue Small Business Administration (SBA) 7(a) small business loans up to a maximum of $10 million or 2.5 times the average monthly payroll costs over the previous year to businesses that have fewer than 500 employees. These “businesses” include sole proprietorships and food service business that employ fewer than 500 people per physical location.
We are often asked by our small business owner clients what scanner we use in our office. We recommend the Fujitsu ScanSnap iX1500 and it will change your document retention world! For those of you who we have move your QuickBooks to online you can scan your receipts and attach them to their transaction! Features for this scanner: *Double-sided scanning with advanced paper feeding system. Scan your documents, business cards, receipts, and photos. *Power Requirement:
A Lifeline for Small Businesses – The PPP Loan. URGENT information for all small businesses. Starting Friday, April 3, small businesses in the U.S. can apply for loans through the Small Business Administration (SBA) to help stay afloat during the COVID-19 pandemic. The Paycheck Protection Program (PPP) provides loans of up to $10 million to qualified small businesses. The PPP loans will be forgiven if a business meets certain criteria. Who Qualifies If your
Where to get money for a growing business. The following sequence of events is common to many new and expanding businesses. The Short-Term Squeeze You start your business with a limited amount of capital and an abundance of good ideas and ambition. The sales activity has been adequate to produce a net profit. Your inventory is about twice as large as you intended. Your accounts payable are past due to the point where some creditors