Self-Employed During the Pandemic? Lawmakers Did Not Forget You
Usually, in times of economic dislocation such as the COVID-19 pandemic, the self-employed get no special government help. For example, you generally do not receive benefits that employees get, such as unemployment and paid sick leave. But this time it’s different....
Double Benefits: Claiming Both the ERC and Tax-Free PPP
First, say thanks to the Consolidated Appropriations Act, 2021 (CAA), enacted December 27, 2020. It opened the door (retroactively and going forward) for PPP participants to also claim the employee retention credit (ERC). Reminder. Tax credits are the best. They...PPP Extended—Act Fast or Miss Out
This is likely it—your last chance to obtain first- and second-draw Paycheck Protection Program (PPP) monies. A new law, the PPP Extension Act of 2021, extends the expiration date to the later of May 31 or when the money runs out. Note the phrase “when the money runs...
Who Qualifies for First-Draw PPP Money Today?
Two things to know about the Paycheck Protection Program (PPP) first draw enacted on December 27, 2020: The first draw is for those who missed getting in on the original PPP, which expired on August , 2020. Don’t think of a PPP draw as a loan. It is not a...