Think about that for a minute……If you have not looked into your EIDL loan and are just sitting back waiting for that deferred payment schedule to kick in; I would like to strongly encourage you to find out what the accrued interest amount is sitting on your account. Here are a few steps you can follow: 1. Find the last … See more How nice of the SBA to let you know that your loan(s) payments are being deferred for 12 or 24 months from your initial funding. Here’s the … See more From my seat in the sandbox as a CASH FLOW expert, it’s important to create debt servicing strategies in line with how your cash flow can support … See more I would welcome the opportunity to help you create those debt servicing strategies from a proactive perspective; not reactive. We are continuing to offer our SWOT Package to help you know where you are currently with your … See more WebFeb 11, 2024 · The interest rate on EIDLs will not exceed 4 percent per year. The term of these loans will not exceed 30 years. The repayment term will be determined by your ability to repay the loan. EIDL assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.
2024 Taxes: How the PPP, EIDL, and PUA Will Affect Your Taxes
WebJun 24, 2024 · If your loan is being used for business purposes, then the interest is tax-deductible. There are some situations that are a little trickier and more technical than … WebSep 8, 2024 · You are generally eligible to deduct only interest on borrowed funds that have been spent for business purposes, such as the purchase of equipment. Interest paid on the money while it is sitting unused in your account is usually treated as investment interest, which is deductible only against investment income. the global endorsement group
Six individuals indicted by federal grand jury for perpetrating a
WebJan 6, 2024 · IR-2024-04, January 6, 2024. WASHINGTON — The Treasury Department and the Internal Revenue Service issued guidance PDF today allowing deductions for the … Webquickbooks.intuit.com WebDec 28, 2024 · The deductibility of business expenses paid with forgiven PPP loans is effective for subsequent PPP loans, as well as for business expenses paid with … the asher agency