Can 2020’s Red Ink Convert Into Cash?

Businesses may be able to convert 2020’s red ink into cash with coronavirus tax breaks. KEY POINTS Business owners incur net operating losses when their tax deductions exceed income in a given year. Generally, these losses can offset future income. The CARES Act allows taxpayers to carry back losses incurred in 2018, 2019, and 2020 […]

SBA issues details for Paycheck Protection Program loans

The CARES Act payroll loan program went into effect this week, through the SBA.  Our team has been asked to provide a few clients with the information needed to apply. Here are the general basics of the program: You can obtain a loan for up to two months of your average payroll costs, plus 25%.  […]