Stimulus Update! Changes To PPP! Now PPP2

The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act is being passed by congress, and we have a lot to talk about!
Updates to the Paycheck Protection Program (now called PPP2) are top of mind, and we have updates to the EIDL advance treatment and many other efforts to discuss for small businesses.
The stimulus deal clarified the tax treatment of the PPP and EIDL Advances by confirming that they are not taxable income AND expenses are tax deductible!

This bill is 5,593 pages long, and there is a lot to cover. We touch on the most important aspects for small businesses here.

There is tax guidance, blanket forgiveness discussion, options for closed venues, details about applying for forgiveness, any much more. We had some Q&A time too!

Make sure to watch if you have a small business.

If you want to explore Clara CFO Group, find us here: https://claracfo.com/

If you want to schedule a time to talk with Hannah (the one in the video) about your business, do that here: https://claracfo.as.me/claritysessions

#PPP #PPPLoanforgiveness #PPPforgivenessapplication #claracfogroup

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Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.

Видео Stimulus Update! Changes To PPP! Now PPP2 канала Clara CFO Group