The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of 2021 (CAA), which also includes other laws within it. Business meal deduction increased The new law
PPP loan forgiveness Archives - Crawford Ellenbogen
Jan 7, 2021
New law doubles business meal deductions and makes favorable PPP loan changes
- By Joan Ellenbogen
- Business
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Sep 2, 2020
The possible tax consequences of PPP loans
- By Victor Dozzi
- Business
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If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted on March 27, 2020, is designed to provide financial assistance