Bob Wells (bobwells)

Posted 8 months ago

You won't be considered automatically. You'll have to apply again.

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Businesses who do not need the funds should not be eligible. Not every American needs $600 or $2,000, either. There is a challenge, however, that having to jump through hoops makes it harder... (More)

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COVID

Thanks again for your pithy approach to these business issues that face many of us. You have been a go-to source of information, which has been clear and trustworthy.

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I'm not so focused on new loans. My clients probably won't qualify. But what matters hugely for my clients are: 1. Expenses paid for with PPP funds are deductible expenses 2. EIDL advance ... (More)

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I agree that Ami has a record of being pithy and not speculating. That's why I follow him.

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SBA Requirements

Brianna, the Treasury/IRS clarified that the CARES Act provided that the PPP forgiveness is not taxable, but a company cannot deduct the expenses that were paid with the PPP funds (essential... (More)

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Ami, the first and easiest thing for our government to do would be to go back to the original interpretation that the PPP forgiveness would not have tax implications. The IRS has interpreted... (More)

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EIDLPPP

Posted 2 years ago

I think you meant they will "now" have a $30,000 loan at the end of your second paragraph. As near as I can tell, banks are not yet accepting forgiveness applications. They are waiting on C... (More)

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Posted 2 years ago

So many businesses took out PPP loans that I doubt anyone will judge a company as being at risk simply because they took on the PPP loan. If they become insolvent, that information will prob... (More)

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