Business

Seven Things You Need to Know About the New Stimulus

On December 27, 2020, the President signed a new stimulus package into law. In addition to a $600 payment to eligible individuals, the new stimulus package includes numerous relief programs and tax incentives for businesses. Notably, the stimulus package has modified and made additions to the Paycheck Protection Program. Here are seven highlights: Forgivable Expenses. …

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Congress Passes Second COVID-19 Legislation Including PPP Boost

https://www.youtube.com/watch?v=PywUIC6l8qk               Congress appears to have an agreement concerning a second Coronavirus stimulus package totaling nearly $1 trillion. SNW will host an “emergency” webchat Wednesday, December 23, 2020 at 10:30 a.m. CST. The chat will be via Zoom and Facebook Live. Please RSVP to info@snw.law or monitor our Facebook page. An early analysis of the …

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PPP For Sole Proprietors and Independent Contractors

Key Takeaway: Self-employed Individuals who file an IRS form 1040 Schedule C with or without employees can still apply for a forgivable loan accounting for their income. Under the CARES Act, the Paycheck Protection Program (PPP) rolled out on April 3, 2020. PPP offered employers of small businesses an opportunity to get a loan during …

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