PPP Loan Forgiveness, " Deductible Expenses with PPP Loans & the 2nd Round of PPP Loans", article by Rolf Neuweiler, 1/5/2021, a2zCFO.com

Deductible Expenses with PPP Loans & the 2nd Round of PPP Loans

The US Congress rules that expenses covered by PPP loans are tax-deductible; second round of PPP loans have simplified application for loans under $150k. Expenses With PPP Money Are Tax Deductible Out of the window now: all IRS rules about not allowing deducting expenses with Paycheck Protection Program (PPP) loans on tax returns.  New rules…

PPP Loan Forgiveness, " Deductible Expenses with PPP Loans & the 2nd Round of PPP Loans", article by Rolf Neuweiler, 1/5/2021, a2zCFO.com

Apply Non-deductible Business Expenses Related to PPP Loans in 2020 Taxes

The IRS rules that payroll and business expenses that PPP loans helped to cover in 2020 are not deductible in determining 2020 business taxes. For businesses that took out PPP loans in spring 2020, the IRS does not allow “double dipping” by deducting business expenses associated with the forgivable portions of your PPP loan, as…

Financial and management pitfalls for a growing small business, by Rolf Neuweiler, CFO. Good bookkeeping and accounting practices not only can avoid many problems to make it easy for tax filings, new loans, and pitching to investors, but they will also provide insight into the operation and health of your business enabling sound decisions for management and growth.

Financial and Management Pitfalls for a Growing Small Business – Part 1 of 2

Part 1 of 2: PITFALLS FOR A GROWING SMALL BUSINESS In January 2019, I talked about financial and management pitfalls for growing small businesses at a professional networking group meeting. Here in Part 1 of the two parts, we first focus on potential pitfalls related to lacking strategic goals and skills. In Part 2 next…

cash flow, small business, solutions, problems, accounting, financial forecast, preventive, invoicing, payment, strategies, www.a2zcfo.com

Cash Flow Problems and Solutions for Startups and Small Businesses (3rd of 3 parts)

This is the last of three parts about cash flow problems and solutions for small businesses. In Parts 1 and Part 2, we discussed seven preventive strategies for all businesses: 1.) Get accounting books organized. 2.) Use a cash-flow budget. 3.) Get customers to pay quickly. 4.) Rein-in unnecessary spending and stay alert to potential…