Expenses Paid with PPP Loans: an Unexpected Turn

  |  December 28, 2020

The recently passed "Consolidated Appropriations Act, 2021" contains a welcome surprise for business owners affected by the COVID-19 pandemic. In a significant turn away from guidance originally published by the IRS, the new legislation intends to allow a business to deduct expenses in full, even if paid with forgiven PPP funds. Read more. Read More

New SBA Guidance Clears Up PPP Forgiveness Application Due Date

  |  October 14, 2020

Concern had arisen among many Paycheck Protection Program (PPP) borrowers in the confusion about the due date for loan forgiveness applications. The Small Business Administration released guidance on October 13, 2020 that confirms PPP loan forgiveness applications are not due on October 31 – and explains what probably caused the confusion. Read more Read More

Preparing Your Business for the New Normal

  |  July 27, 2020

If business owners have learned anything from dealing with the COVID-19 pandemic these past months, they know that being positioned for quick maneuvers and redirects is absolutely vital. Ensuring that key processes are recorded and supported has become critical not only to managing the business, but also to making adjustments and adapting to changing external conditions. Read more. Read More

Small Businesses: Consider Economic Injury Disaster Loans (EIDLs)

  |  July 13, 2020

In the distress of the pandemic, one source of economic aid may not be getting enough attention from small businesses: the Economic Injury Disaster Loan (EIDL). Like a Paycheck Protection Program (PPP) loan, the EIDL is provided by the U.S. Small Business Administration. In an interview, REDW Principal Brian Foltyn provides some quick, essential highlights about EIDLs. Read more. Read More