News (2421)
IRS Ruling Negates PPP Gains
An IRS ruling could eliminate any benefits small business would see from the Payroll Protection Program, reports Kiplinger.
The IRS just did something that stunned me. It pulled the rug out from under desperate small-business owners just as they were starting to get their feet under them. It was about a month ago that I praised what I saw as the one of the most comprehensive, beneficial acts of Congress in American history.
Read more...Small Businesses Need to Watch for Fraud
Small businesses prepare for an uptick in “friendly fraud”, reports USA Today.
With Americans growing more cautious about their spending habits in the wake of layoffs and pay cuts due to the coronavirus pandemic, experts caution that small businesses should brace for a rise in “friendly fraud.”
Read more...More Debt for Small Business
According to Vox, the Paycheck Protection Program may ultimately lead to more debt for small businesses.
A new report from the inspector general for the Small Business Administration finds that forgivable loans from the government — intended to help small businesses weather the current economic fallout — could ultimately leave many weighed down by debt.
Read more...Free Online Seminar to Help Leaders Create Effective Unifying Vision
Businesses around the nation need something to help them get past this current pandemic and thrive going forward. One popular book author is offering a free online seminar to give them the motivation and tools they need to do just that. The online seminar, which will be held May 8, 2020, at noon EST, will give business leaders the insider information on what they need to create a unifying vision, as well as how to leverage the power of it to help their business succeed.
Read more...Large Restaurants Were Supposed to Get PPP Funds
ccording to Business Insider, it was not an error that large restaurant chains got Paycheck Protection Program funding.
As the federal government's aid to businesses affected by the coronavirus pandemic has gone out, a curious new breed of public moralizer has emerged: the wealthy businessman or their political allies angry at businesses getting money that isn't "meant for them."
Read more...Understand the PPP Rules Before Using
Small businesses need to understand the Paycheck Protection Program’s forgivable requirement before spending their loan, reports Entrepreneur.
Many small business owners who have been approved for Paycheck Protection Program loans (“PPP”) are realizing that the loan isn’t as forgivable as they’d hoped.
Read more...Small Businesses Question PPP Rules
According to NPR, small business are struggling to understand the Payroll Protection Plans forgiveness clause.
Christian Piatt finally got a loan to help rescue his brand-new bar and restaurant in Granbury, Texas.
But it wasn't easy.
Read more...Small Business Funding Shouldn't Be Race
According to Bloomberg, Bank of America thinks that the small businesses funding shouldn’t be a race.
Bank of America Corp. Chief Executive Officer Brian Moynihan said the U.S. government’s small business loan program should be fully funded, rather than having companies scramble for the cash required to get through the economic hit from coronavirus.
Read more...Large Businesses Start to Return PPP Loans
Large companies that received Payroll Protection Loans are being shamed into returning them, reports ABC Chicago.
Potbelly Sandwich Shop is the latest large company to say it will return money it received as part of the Payroll Protection Program.
Read more...Post Office is Necessary for Businesses
Losing the post office could be the death knell for many small businesses, reports Tech Crunch.
Since moving to the United States, I’ve come to appreciate and admire the United States Postal Service as a symbol of American ingenuity and resilience.
Read more...
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