PPP Tips: 6 Things to Discuss with Your Accountant Now

I feel for the owners of small and midsized businesses right now: They are like sailors facing headwinds and choppy waters of a very tough business environment with very little visibility, and the survival of their business at stake.

Many sought a lifeline in the Paycheck Protection Program (PPP) passed under the $2.2 trillion CARES Act earlier this year. But even as these forgivable loans may help keep businesses afloat and workers employed, the rules are in flux and ambiguous. Even specialist financial advisers are steering their clients as though navigating by the stars, rather than by precision GPS.

The banks providing the loans have asked recipients to hold off on submitting forgiveness applications, as even they

Vous lisez un aperçu, inscrivez-vous pour en lire plus.

Plus de Kiplinger

Kiplinger4 min de lecture
How To Buy a Roth IRA When You Make Too Much To Qualify For One
While contributions to a Roth IRA are never tax deductible, these accounts grow tax-free and any qualified withdrawals come out tax-free as well — which makes them a great deal. The problem is if your income is over $139,000 for a single taxpayer (or
Kiplinger3 min de lecturePolitics
Keep Politics Out of Your Investing Decisions!
These days, following an election can feel like watching the same slasher film every day for six months straight. But how should our political leanings impact our investing decisions? Specifically, should you sell before, during or after the election
Kiplinger4 min de lecture
To Take Back Control of Their Finances, Millennials Need to Embrace the ‘B’ Word
There’s no escaping the fact that millennials have been dealt a tough financial hand. Many of them have lived through at least two big recessions, the second caused by an unprecedented pandemic that has dented their employment prospects. The coronavi