The global COVID-19 pandemic sent the entire world into an economic crisis. Some small businesses are feeling the effects of this more than others, but all US small businesses need to understand how the pandemic and resulting legislation might impact their 2021 business taxes for the 2020 tax year. How New COVID Laws May Affect… Continue reading COVID-19 And Your Business Tax Returns (Tax Year 2020)
We keep seeing the headlines of the government running out of funding assistance for businesses. Congress keeps extending deadlines and funding programs. So, what help is still available to help your business survive the current COVID-19 economic crisis? Three key programs are currently open to applications and have funding available. Paycheck Protection Program: Congress reopened… Continue reading COVID-19 Updates: What Help is Still Available?
The SBA recently made the announcement below about the reopening of the Economic Injury Disaster Loan (EIDL) program. This is a different announcement than the recent update on the Paycheck Protection Program, which is a forgivable loan. The EIDL is a fixed rate, long-term loan to help businesses hurt by the coronavirus crisis cover general… Continue reading Update: SBA Reopened The Economic Injury Disaster Loan (EIDL)
The SBA has already issued over $1.4 billion in EIDL funds in the state of California alone. The Economic Injury Disaster Loan is a small loan, up to $10,000, to small agricultural business owners who are currently affected by economic conditions due to the coronavirus. If your business has seen a drop in sales or… Continue reading SBA Resources: The Economic Injury Disaster Loan (EIDL)