The CAA, 2021 permits certain smaller businesses who received a PPP loan and experienced a 25% reduction in gross receipts to take a PPP2 Loan of up to $2 million.
Even if you did not file a return, but are eligible, you may apply by October 15, 2020 for the $335 NC Grant
The self-employed person can receive an income tax credit of $200 per day, up to a maximum of $10,000.
If your business is struggling, you may be able to get some help from the federal Small Business Administration (SBA), which is authorized to provide loans to small businesses on an as-needed basis.
companies have already used up their PPP Proceeds but are still needing additional working capital due to the delay in being able to open back up.
Generally, the first 10 days of leave can be unpaid and then paid leave is required, pegged to the employee’s pay rate and pay hours.
The Families First Coronavirus Response Act, the “Act,” provides a refundable income tax credit for sick leave of a self-employed person
Small businesses have 12 days from the time of this post to submit an application. If you have “thought about it,” but not yet taken action, call a trusted advisor. Discuss the reasons for your hesitation; this might just be a golden opportunity to salvage your business. Make the call, start the discussion – what do you have to lose?
the penalty tax will not apply to up to $100,000 of coronavirus-related distributions during 2020.
The “Act” provides a refundable income tax credit for sick leave of a self-employed person for qualified Sick Leave. The credit first reduces a self-employed individual’s income tax liability and any balance is refunded.