by Mettise | Jan 11, 2021 | Blog Post, Finance
The Second Draw of the Paycheck Protection Program (PPP) is opening up this week. The eligibility test is different than the first round. You are eligible for the program if your gross receipts in one calendar quarter of 2020 are down at least 25% compared to the same...
by Mettise | May 21, 2020 | Blog Post, Finance
A bipartisan measure amending the Paycheck Protection Program (PPP) will be voted on next week in the House of Representatives. Amending the Paycheck Protection Program to assist small businesses with more forgiveness has bipartisan support in both the House and...
by Mettise | May 15, 2020 | Blog Post, Finance
Business Owners – this is for you! Following the recent announcement that the Small Business Administration would review any Paycheck Protection Program (PPP) loans made in amounts exceeding $2 million, the agency issued guidance extending an automatic safe harbor to...
by Mettise | May 7, 2020 | Blog Post, Finance
Our last blog post announced that the IRS issued Notice 2020-32 indicating that expenses funded with forgiven PPP loan proceeds are not deductible. We believe this is contrary to the intent of the CARES Act. Yesterday, Senators Grassley and Wyden introduced...
by Mettise | May 3, 2020 | Blog Post, Finance
Business Owners – this is for you! The IRS issued Notice 2020-32 indicating that expenses funded with forgiven PPP loan proceeds are not tax-deductible. We believe this is contrary to the intent of the CARES Act. If you agree, we encourage you to contact your elected...
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