A new year, a new round of PPP loans.
The good news is that the PPP loans you signed up for last year will not trigger federal income as a result of the offsetting of the expenses. The bad news is that we need to wait for California to conform to this position.
Next up is a second round of PPP loans that if you had a 25% drop in revenue in either quarter 1, 2 or 3 you can apply for a new round of funding. You may also be eligible for local grants through https://careliefgrant.com/ If you have any questions or need documentations (prior years tax returns or other information) please let us know how we can help you!