Businesses all over the country have been affected by the COVID-19 pandemic. Many are facing extreme financial pressure. Fortunately, there are tax breaks that can provide businesses with much needed relief.
When the CARES Act was signed into law, it created the Paycheck Protection Program (PPP), which is a new loan designed to help small businesses pay employee wages and other critical expenses. Proceeds from this loan can be forgiven if certain criteria are met.
If you currently own or manage a small business, you’ve probably experienced an extremely high demand of products or services or you’re preparing for the worst.