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My accountant said that he cannot file my 2020 taxes because
Hello, My accountant said that he cannot file my 2020 taxes because I got the PPP loan and he must use it as income because of the law. The PPP loan is in my online banking as a loan. Why can't he cla… read more
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Am I still eligible for 100% forgiveness if I received unemployment? I am not seeing that on there. ideally i would just want to pay off the 5k I owe to the irs for 2019 and then pay off my taxes for … read more
Isaac, Esq.
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Is the PPP Loan 100% forgivable? I'm self-employed 1099 and am considering taking it. I need to pay off my taxes for last year as I ended up using my savings on incurred expense.… read more
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GOAL: I want to amend or reapply for my approved (signed for
GOAL: I want to amend or reapply for my approved (signed for this morning) PPP second loan to increase the amount (currently only $5208). I did not know until now that I could increase my payroll cost… read more
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Taxpayer received a first PPP loan. Taxpayer met the revenue
Taxpayer received a first PPP loan. Taxpayer met the revenue reduction and obtained a 2nd PPP loan. After reviewing loan forgiveness requirements for first loan, realized that they did not qualify for… read more
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Several months ago, loans were offered by the government
several months ago, loans were offered by the government that were non pay back loans. As long as the funds were used for small business expenses, they were free. what is the policy now. Additionally,… read more
JeffS6413
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I've question regarding PPP loan . Since I did not apply last year ,I'm planning to apply for this year as the date is extended till Mar 31st .As I might have mentioned in one of my previous questions… read more
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I have an s-corp accounting question. I've been doing my own
No, I've been doing my own taxes for years, but I have a question this year how to handle the PPP loan write off … read more
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We received the PPP and EDLI loan from the government in
We received the PPP and EDLI loan from the government in 2020 due. When deposited into our bank account I put under Uncategorized Income in Quickbooks. Is there a better way or a different chart of ac… read more
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Carter McBride
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My company is an LLC taxed as an S corporation received a
Hello, my company is an LLC taxed as an S corporation received a PPP loan and an EIDL grant earlier in 2020. I expect the PPP to be fully forgiven, so my understanding is that these funds received fro… read more
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I was just reading up on the PPP Loan forgiveness. I wanted
Hey Lane,I was just reading up on the PPP Loan forgiveness. I wanted to double check with you that I'm reading this correctly. For example, if my tax client received $200k and that that PPP Loan was f… read more
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Client is doing tax planning for 2020. He is concerned about
Client is doing tax planning for 2020. He is concerned about getting the PPP loan forgiveness before the end of the year or will it be determined in 2021? He may or may not get the full forgiveness. W… read more
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As an independent contractor (low income), if I get a PPP
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I am a self employed opera singer that has both 1099 and w2
Hi, I am a self employed opera singer that has both 1099 and w2 for 2019. I've been aprroved for a sba eidl loan, but wonder if the ppp would be better? can I apply for the ppp still? and if I owe bac… read more
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Thanks for this opportunity. I work as a rideshare
Greetings! Thanks for this opportunity.I work as a rideshare driver/gig worker. I qualified for the SBA loan. I read the restrictions, but still unclear. Am I permitted to use the loan for payment tow… read more
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Im applying for the ppp through cahse. they asked me to
im applying for the ppp through cahse. they asked me to reapply because I have to provide prof of payment to independent contractors. what do I need to show for that? … read more
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