There are a number of tax credits and incentives that businesses can take advantage of to help offset the losses experienced during the pandemic.
Tax Credits and Incentives for Businesses in 2021
Tag: PPP
Eligible Businesses: Claim the Employee Retention Tax Credit
The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA). Here’s a rundown of the rules.
Keep Employees on your Payroll with the Employee Retention Tax Credit
Employers that keep workers on their payrolls are eligible for a refundable Employee Retention Tax Credit, which has been extended and enhanced.
PPP Loans Reopen: Tax Consequences Change
The Small Business Administration (SBA) announced that PPP loans reopened the week of January 11. Here’s a look at the tax consequences.
New Law Makes Favorable PPP Loan Changes and Increases Business Meal Deductions
Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), including business meal deduction and PPP loan forgiveness changes.
PPP Guidance Issued for Second-Draw PPP Loans
New guidance for the PPP program has been released related to second-draw PPP loans that were authorized by the Consolidated Appropriations Act.
What are the Tax Consequences of a PPP Loan?
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications.
PPP Loans: Forgiven Expenses aren’t Deductible
The IRS has issued guidance clarifying that certain forgiven expenses aren’t deductible if a business has received a Paycheck Protection Program (PPP) loan.