Did you finally receive the long-awaited PPP loan and now have an array of questions on how to track utilization to ensure loan forgiveness? Many business owners went through days of agony: first by trying to figure out how to apply for the PPP loan during the initial round of funding, then by learning their application didn’t meet qualifications, and finally by scrambling to apply during the second round of funding. Ultimately, when some of them “made” it, business owners then had to figure out how to track the use of the funds to increase the chances of getting the loan forgiven.
Still confused about what COVID-19 resources from the CARES act are the right one for your business or what you qualify for?
Access our Google sheet for a summary of the major key features of PPP loan, payroll tax credits and payroll tax deferral. We also included some private grants and a list of SBA approved lenders for the PPP loan.
No doubt these are very difficult times for all of us. I personally don’t like unpredictability and this situation is more than unpredictable. As a business owner, mother of two boys (one in his first year of college), and responsible for the financial support of family and staff members, these times are quite unsettling. However, I am hopeful that when this is behind us, we will recover back to our Pre-Coronavirus lives, if not better.
During the month of May, FiBrick Financial Services is offering a free custom-made video of the NetSuite ERP functionality of your choice. Think of a task your team wish they could complete faster, and whether because of time constraints, they have been unable to utilize NetSuite to make it happen.
Describe the challenge or improvement opportunity in the input sheet included in the link below, and we will create a short video to help make this happen!
March is the month when the attention of all small business owners turns to the looming tax deadline. Yes, it can be stressful, but it can also be a great opportunity to put your business’ financial house in order.
6 second take: Learn how the new tax law changes will affect you when you file your return.
I have to admit, I dreaded reading about and listening to all the commotion in 2018 about the new tax reforms. It was nerve-racking. But now that the regulations are in effect, I have dedicated some time to learning about these changes and to figuring out how they impact my clients and myself. Below are the eight most relevant tax law changes.
Anxiety levels have soared among the lower and middle class as the GOP instigates a tax bill overhaul proffering hefty cuts to corporations and the highest-earning 1%. But most income brackets will see a boost in take-home pay – a blip for some earners and a bump for others. Find out where you stand.
The Tax Cuts and Job Act of 2017 is hotly contested for its drastic tax breaks for corporations and the top one percent of households. But it does offer small businesses a significant breather — at least until 2025. Here are a few things to ask your accountant as tax season approaches: