Category: loan forgiveness

PPP Loan and the Economic Aid Act

PPP Loan and the Economic Aid Act

The United States Small Business Administration (SBA), in connection with the Treasury Department, announced that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on…
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Accounting Business Services

Should you separate your business and personal bank accounts?

A very common question that comes up, particularly with new small businesses, is whether you should separate your business bank account from your personal bank account. The general rule of thumb is that you should not comingle your bank accounts and here is why. It prevents you from using the business funds for a personal…
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Paycheck Protection Program PPP Loan

PPP Loan Forgiveness – LNK Tax Group

Borrowers who received Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act are asking their tax professionals if and how they will qualify for PPP loan forgiveness. There is uncertainty over some of the program details. Organizations. especially small to medium sized businesses, worry about meeting the loan forgiveness…
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