12/28/20 – Stimulus Bill and PPP Round 2

Late Sunday night, the President signed H.R. 133, which contained a number of COVID-19 relief provisions that taxpayers have been anxiously awaiting. The Act is 5500 pages long, so we’ve summarized some of the major highlights for you below.  Paycheck Protection Program (PPP) Provisions Allows a deduction for any expense used to forgive your PPP loan. Now, the loan really is non-taxable.  Makes the following expenses allowable […]