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Financial EDGe is an informative and motivational resource center aimed to improve your financial understanding and awareness of the many aspects of the financial responsibilities that business owners face every day.
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Simple PPP Forgiveness app for loans <$150,000 now available!
The PPP forgiveness application for loans <$150,000 is now available (Form 3508S.) It is a 1-page form that is easy and straightforward...
EIDL Advance (Grant) - SBA Updates
The SBA released guidance last evening on the SBA Advance (Grant) Program and how it will work for recipients who did not receive a grant...
Additional Stimulus bill benefits
There are several additional benefits in the new stimulus bill for individuals and businesses that I outline below. Enjoy! Stimulus...
Shuttered Venues Grants
A new program available in the Economic Aid Stimulus bill is the Shuttered Venues Grant program. $15 Billion has been set aside for...
EIDL Updates - Yes, You Really Were Supposed to Get 10,000!
Today we will discuss the change to the EIDL (Economic Injury Disaster Loan) program. Recall, there are two parts of the EIDL - the...
The New Stimulus Bill - Employee Retention Credit - Yes, You Can Go Back in Time!
Today we are going to talk about the Employee Retention Credit (ERC.) This credit was available in 2020, but many business owners did not...
PPP Loans - The NEW Details
The SBA released additional information on the next round of PPP loans, including some easy to read one-pagers for first and second draw...
Congress PASSED Federal Stimulus Bill - What it means for businesses and nonprofits
On Sunday evening, President Trump signed the 5,593-page spending bill, which contained the latest round of stimulus checks. There are a...
CARES Act Changes Deductions for Charitable Contributions in 2020
Cash Donations up to $300.00 Now Deductible Even if You Do not Itemize Many of our nation’s charitable organizations are struggling to...
PPP and Taxes - The Latest
The year end is fast approaching which means it's time to think about the impact of the PPP loans / forgiveness on business taxes. The...
CARES Act Section 2302 – Deferment of Employer’s Portion of Social Security Taxes – Don’t Forget!
By Molly Frazee; Financial Strategist Back in the spring, one of the relief measures provided by the CARES Act was the deferral of...
Economic Injury Disaster Loan (EIDL) Documents the SBA Requires
We have heard from a few owners who have an EIDL that they have received notices from an SBA case manager requesting them to submit a...
PPP Update: New Easier Form for Loans <$50,000
The SBA just issued new guidance and form for PPP loan amounts of less than $50,000. The new 1 pager requires certification of 7...
Work Opportunity Tax Credits: Can the Employees I Hire Reduce My Tax Liability?
By Myra Tunstall; Financial Strategist What Is a Tax Credit? A tax credit is an amount of money that taxpayers are permitted to subtract...
Employee Payroll Tax DEFERRAL - IRS Guidance
On Friday August 28th, the IRS issued additional guidance on the employee payroll tax deferral effective from September 1st through...
SBA Issues New Guidance On Eligible Expenses
Almost 6 months into the PPP program and after the forgiveness application process has started, the SBA has issued new guidance that can...
Paycheck Protection Program (PPP) - NEW Guidance
UPDATED 6/7/2020 The good news is that much of the guidance was rehashing what was already included in the loan forgiveness application...
PPP Loan Forgiveness Application - Bringing it all together
UPDATED 5/22/2020 The last 2 days we have discussed how the PPP Loan Forgiveness application works focused on the calculations that could...
PPP Loan Forgiveness Application - Test #2 FTE Reduction
UPDATED 5/22/2020 Forgiveness Reduction – Test #2 FTE (Full Time Equivalent Headcount) This test on the PPP Loan Forgiveness Application...
PPP Loan Forgiveness Application - Test #1 Salaries
UPDATED 5/22/2020 The SBA has issued the first PPP Loan forgiveness application. While we expect further clarification and possible...
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