Posted on January 21, 2021 by John Lanahan
Last week we provided an overview of the latest changes for the Second Draw of the PPP. Banks have begun processing loans and as of January 19th, over $5 billion in loans have already been approved out of the PPP Second Draw. Speed will be of the essence, as banks begin processing loans. It will […]
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Posted on January 12, 2021 by John Lanahan
Key Summary Highlights: PPP Second Draw opens up this week, starting with community financial institutions on January 11th and opens to the rest of lenders on January 13th. Employee headcount requirements have been adjusted down from 500 to 300 employees. Businesses must demonstrate a reduction of at least 25% of gross receipts in the first, […]
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Posted on December 3, 2020 by John Lanahan
One of the major changes in 2020 for business owners working with contractors and freelancers is how to report these contractor payments to the IRS. Previously, businesses issued and contractors received 1099-MISC forms to report income generated from freelance activities. That has changed this year, as the IRS has introduced Form 1099-NEC to report “Non-Employee […]
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Posted on November 9, 2020 by John Lanahan
“Goals are dreams with deadlines.” – Anonymous Entrepreneurs talk about goals all of the time. Typically the context is focused on goal outcomes or how “we are crushing our goals!”. But what went into setting those goals? The reality is Goal Planning and how to do it well is often underdiscussed. While it seems simple […]
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