Posts made in January, 2021


Updated PPP Rules

Updated PPP Rules


Posted By on Jan 8, 2021

The new Paycheck Protection Program (PPP) law enacted with the stimulus package adds dollars to your pockets if you have or had PPP money.   Before we go further, please note the PPP money comes to you in what appears to be a loan. We say “appears” because you typically pay back a loan.   Done right, however, the PPP loan is 100 percent forgiven. The word “loan” makes some businesses leery of this arrangement. Don’t be. The PPP...

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Did you miss out on the first two opportunities to receive your tax-free Paycheck Protection Program (PPP) cash?   Many did miss out. Why?   One reason: the word “loan.”   Who wants a loan? No one. Well, almost no one.   But who wants a cash gift, tax-free?   If you do, read on for the details. But first, you should know that the big picture works like this:   You obtain your PPP tax-free monies from a lender (it’s called a “loan,”...

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