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The New Stimulus Bill May Help Your Small Business

1/6/2021

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​The $900 billion package was signed into law on December 27th.
  • Second PPP loans are available for some small businesses that had a 25% reduction in gross revenue
  • Expenses paid for with PPP funds are now eligible to be deducted on your taxes.
  • Employers who were entitled to more PPP funds the first time, but were limited due to changing guidance, may be able to request more funding.
  • Some businesses may be eligible for the full $10,000 EIDL grant.
  • Forgiveness applications will be simplified for loans of $150k or less.

Here's an article with more info:  www.forbes.com/sites/allbusiness/2021/01/02/5-ways-the-new-stimulus-bill-may-help-your-small-business/?sh=7fdc38ea6ae9
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    Lauren Gann, CPA

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