This is not a drill! We cover all the recent updates and new information regarding tax deadline shifts – what is included and what is not, the second draw opportunity for the Paycheck Protection Program and the targeted EIDL advance application.
So, what was in the bill? It was a quick 600+ pages of dolling out dollars!
Beyond having a great idea, product, or service; beyond being able to lead a team; beyond being able to get your message out and generate attention; beyond doing the work… your business needs cash!
The SBA pushed out guidance on the new “PPP Second Draw Loans” yesterday. While we still don’t have sight of the application and the “portal” isn’t open for banks to submit loan packages we do have more answers – not all, but more.
This “second-draw” of forgivable loans is aimed at “harder hit” small businesses.
What do liquid lunches, PPP, Unemployment, and Cape Cod Bridges have in common? This bill.
You got/took/accepted an EIDL Loan … (kind of like saying 4C’s college) … So where do you go from here?
“Do the people who work for me feel they are winning at something that matters?”
Health and accident insurance premiums (this includes premiums for spouse and family coverage as well) paid on behalf of a 2% S corporation shareholder-employee should be reported as wages on the shareholder-employees Form W-2.
