Good Success
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Locality: Hephzibah, Georgia
Phone: +1 706-250-0993
Address: 1808 Eva Lane 30815 Hephzibah, GA, US
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TAX DEADLINE UPDATE The following items are due on July 15th: 1) 2019 tax return... 2) First quarter estimated tax payments 3) Second quarter estimated tax payments See more
Congress passed, and the President has signed a bill that affords businesses who received the PPP (whether in the first or second round) some big flexibility when it comes to applying for forgiveness. Generally speaking (there are some caveats to this), here is what is new: 1) 60% Threshold - You only need to use 60% of the loaned money for payroll, not 75% as previously required. The other 40% can be used on rent / mortgage, utilities, and loan interest. ... 2) 24 Weeks - You can now spend this money over 24 weeks (through the end of this year) while still being eligible for forgiveness, as opposed to the original 8-week window. 3) 12/31 Hiring Window - You can now count anyone rehired through the rest of the year, not the previous deadline of June 30th. 4) Terms - Whatever doesn't get forgiven will go into a 5-year loan at 1%.
More changes are coming to help business owners with a PPP loan. This bill helps clarify and loosen restrictions for loan forgiveness. We'll keep you updated once the bill is officially signed.
We are pained by all that's going on in the world right now, on SO many fronts. It's painful. But as business owners, we're called by our vocation to lead, and to shine a path for our customers and all of those whom our business might touch. So we will keep moving forward with information to help you, to come alongside families and businesses with financial clarity and a boatload of tax savings. That's our lane, and we embrace it. We're doing our part to make our clients' loads lighter, no matter their particular circumstance. We're with you.
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