On Thursday, April 30th, the IRS one-upped Congress regarding the taxability of the Paycheck Protection Program (PPP) Loan forgiveness. Congress wrote very specific language in the Act, EXCLUDING the loan forgiveness as taxable income. They wanted 100% of the loan be earmarked to pay employees and...
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For those startups that missed the Paycheck Protection Program (PPP) and need to now reduce burn, but do not want to lose their employees, “Workshare” is the PERFECT program for your startup and your employees. Workshare is a State program (CA, NY and MA have...
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PPP just got another $250B – do not wait. Apply immediately. Below are some very interesting and insightful comments made on the following PPP/EIDL Facebook groups in the last 24 hours. https://www.facebook.com/groups/navsbahub https://www.facebook.com/groups/2285081988461416 Divvy/Cross River PPP funded into my...
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unBookkeeper is Accountalent’s bookkeeping solution for early stage startups. unBookkeeper – what’s the story with the un? Un means “not”. We feel that early-stage startups may not need a bookkeeper, as bookkeeping has evolved and much of it can be done electronically. How does...
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The Paycheck Protection Program (PPP) is a week old. This is what we have learned in the first week: The fever pitch has subsided – there was a lot of anxiety about this being a “first-come-first-serve” program and $350B would not last long. As of today, there...
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How has the R&D Credit changed? Before 2016, the R&D Credit had to be taken against taxable income – most startups do not have taxable income, so it was nice, but no immediate benefit. For tax year 2016 (returns filed in 2017) and onward, there...
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