Paycheck Protection Plan (“PPP”) Loans – Disbursement and Use of Loan Funds – Best Practice Guidelines
If you’ve been approved for the Paycheck Protection Program loan, you may have been wondering what are the best practices for receiving and using the funds and documenting the expenses the funds are used on. We have compiled some guidelines to help you as much as possible and we are ready to help if you need our assistance.
Let Us Help: Paycheck Protection Program
If you’re like many business owners in the US today, you’re trying to get the most information possible about how to keep your business running. The CARES Act created new relief loans for small businesses called Paycheck Protection Program (PPP) loans. They are intended to encourage employers to keep their employees on their payroll, so there are huge benefits to these loans.
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WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
Tax Update: Scams and Phishing Attempts During COVID-19
The IRS has released a statement urging taxpayers to remain extra vigilant for scams and phishing attempts during these uncertain times. With taxpayers receiving economic impact payments, it is expected that there will be a criminal effort to intercept these payments.
At CAPATA, our mission is to help you to Rise and Build a Better Future. With the uncertainty we all face, we want you to know the future is not hopeless—it is filled with opportunities for those who prepare for them.