The President signed the COVID-19 Relief Act Sunday night. Echoing a previous post, a lot of uncertainty has been resolved. However, all may not be good in Mudville. The deductibility of Paycheck Protection Program (PPP) loan expenses is generally seen as a positive result. However, there is one catch. If you are a shareholder in […]
Archives for December 2020
Entity Type Selection: Structuring for Long-Term Success
A question we frequently hear from entrepreneurs and business owners is, “How should I structure my business for tax efficiency and business operations?” But one size does not fit all. The answer is dependent mostly on your goals for the company. There are essentially four options to structure your business: A traditional C-Corporation An S-Corporation […]
PPP News: Stimulus Package Approved by Congress
On December 20, 2020, Congress agreed on a $900 billion stimulus package. The President is expected to sign this legislation into law before Christmas. What does this mean for you? The uncertainty has finally been resolved! Businesses that received a Paycheck Protection Program (PPP) loan and had it forgiven would now be entitled to a […]
Business Operations, 2020 Edition: Connecting in a COVID World
The year 2020 has brought much confusion and turmoil as a result of the COVID-19 global pandemic. As the world went into lockdown, many businesses were forced to close in an effort to decrease the spread of the virus. Unfortunately, many local businesses had to shut down due to financial issues, while others were faced […]