Are you tired of talking and thinking about the PPP? Because I’m tired of talking and thinking about the PPP. That said — this program has been a lifesaver for a variety of my Chattanooga clients, and it has provided a great shot in the arm for others. And, well … we finally have definitive guidance FROM THE SBA about … Read More
Should Your Chattanooga Business Consider Returning The PPP Loan?
There has been a lot of recent chatter about the PPP money, who got it, who didn’t, and even if some Chattanooga companies should pay it back. Well, I have some thoughts on this for you today, but ultimately, you will have to be the one who makes this decision. It’s an easy decision if you desperately needed it. And … Read More
A Big IRS Update For Chattanooga Businesses On Using The PPP Loan Funds
Well, if you were wise, you probably saw this coming. Turns out … if you received a PPP loan, that the expenses you pay from the proceeds of this (forgivable) loan … are not deductible for Chattanooga businesses. Ouch. The IRS just released new guidance to this end (which is being protested by CPA associations). This reduces the value of … Read More
An SBA Funding Update And Four Scenarios Your Chattanooga Business Could Be In
The second round of PPP funding began this Monday at 9:30AM Eastern. This funding was $322B (as opposed to the first at around $349B). The first round of $349B funded 1.6MM business. As for those who were waiting on that first round, the SBA hasn’t shared recent numbers, but the last time they did, there were 800K pending applications in … Read More
What Your Chattanooga Business Should Do If They Received PPP Funding
I promise that one day I’ll write to you and my Chattanooga area readers about matters other than government aid, the CARES Act, PPP/EIDL, and whatnot. But as we all keep saying: these are extraordinary times. Pick your cliche — it all fits right now. But here is a piece of semi-urgent news: It looks like there is a deal … Read More
Five Ways To Get Small Business Help Right Now For Your Chattanooga Business
I’d like to simplify things for you today. There is so. much. noise. right now about how to survive (even thrive) in the midst of this very difficult season. “Pivot” they say. And yes, if you are running a business, these times call for a bit of a shift. Only a very small amount of businesses haven’t been affected in … Read More
What Your Chattanooga Business Must Do While Awaiting SBA Payroll Loans
Before I get into some of what we have learned over the weekend about the SBA payroll program, I want to speak to you — business owner to business owner. To survive in this hour, you will NEED two major qualities: Clarity and Patience. The SBA payroll program offers a lifeline of hope to many of my Chattanooga clients and … Read More
A Guide to Paycheck Protection Program Loans for Chattanooga Businesses
This is a very important message, and I’d like you to read it carefully. Here at Team Thomas Taylor CPA, we have been walking closely with our Chattanooga business owner clients (and many, many new business owners who have been reaching out) to cut through the noise and online misinformation about these loans. Some of this misinformation is innocent, simply … Read More
What Does The CARES Act Mean For Your Chattanooga Small Business?
These days are moving VERY quickly, and we are working VERY hard to get communication out to our Chattanooga clients and friends. You probably already heard that the CARES Act (the mammoth 880+ page disaster relief bill) was signed over the weekend, and help IS indeed on the way. But there are so. many. rumors. flying around out there that … Read More
The New Stimulus Bill Has Huge Impacts For Chattanooga Businesses
Some huge news is happening for Chattanooga business owners, that I’m sure you’ve heard rumors about, so I wanted to reach out to you quickly with some first-blush details. I also wanted to offer this: If you have business associates or friends who need help ensuring that they receive ALL of the benefits available to them from this new “CARES” … Read More