Privately Held & Family Owned Businesses

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Guidance issued on deductibility of expenses with a PPP loan

November 19, 2020

On Nov. 18, the IRS and Treasury issued Revenue Ruling 2020-27 which provides long-awaited guidance on the tax treatment of expenses related to Paycheck Protection Program (PPP) loans. The…

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2020 tax planning considerations for businesses, individuals

November 13, 2020

 This year has been unique and beyond comparison in many ways, and tax planning is just one of the implications of current events. Both individual…

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Understanding the 3 PPP forgiveness applications: Which one to use

November 5, 2020

The Paycheck Protection Program (PPP) from the Small Business Administration (SBA) and Treasury has had many updates over the past few months including changes to…

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House, Senate approve 5-week PPP loan application extension

July 2, 2020

The U.S. Senate and House of Representatives have both unanimously agreed to extend the Paycheck Protection Program (PPP) by five weeks in an effort to…

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SBA issues update first PPP interim final rule following PPP Flexibility Act

June 10, 2020

On June 10, 2020, the Small Business Administration (SBA) issued an updated interim final rule for the Paycheck Protection Program (PPP) in response to the…

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PPP Extension Bill

June 5, 2020

On June 5, 2020, the president signed into law the Paycheck Protection Program Flexibility Act after it passed the Senate with a unanimous vote. The…

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Paycheck Protection Program (PPP) Loan Instructions and Tips

March 31, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27 provides $349 billion in funding for the Small Business Administration (SBA) in an effort to provide…

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Small businesses eligible for disaster assistance loans from SBA

March 20, 2020

Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called…

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President Trump signs Families First Coronavirus Response Act

March 20, 2020

Congress passed and President Trump signed the Families First Coronavirus Response Act (FCCRA) on March 18, 2020; it will become law 15 days after the…

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