The usa government’s a reaction to COVID -19 provided big stimuli funding plus difficult and hurried advice one to puzzled probably the extremely persistent entrepreneur. That have other bullet away from stimulus up for grabs, firms that accepted Salary Defense Program (PPP) profit 2020 should look on definitive recommendations published to show compliance criteria and you may new income tax pros.
Included in the Coronavirus Support, Relief, and you will Economic Safeguards (CARES) Work signed towards legislation to the , more than $600 billion was earmarked to possess PPP money. Brand new loans provided possible forgiveness and you may an amazingly low interest out of 1% instead of equity. A business must satisfy specific requirements making certain loans had been focusing on small enterprises in need of assistance. Continue reading “Taxation & Accounting Pointers to own PPP Fund”