Second Stimulus Bill For Small Businesses

A guide for small businesses by brendan tuytel on december 23 2020 in the last days of 2020 the us government passed a stimulus bill packed with benefits for small businesses.

Second stimulus bill for small businesses. This includes the following programs. Because the smallest businesses and those located in low and moderate income areas were often shut out of the first round of ppp funding this bill includes set asides for small businesses with. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump.

The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump. After that date your business is required to pay half the taxes by the end of 2022 and the other half by the end of 2023. While you may be hopeful that it will help your small business you probably are also glazing over the fine print unsure of whether you ll actually be able to take advantage of any.

It also clarifies that you don t have to pay taxes on the loan forgiveness or grants. The second stimulus bill extends payroll taxes for another year to january 1 2022. Congress at last passed a second stimulus bill this week as of this writing it is still awaiting president trump s signature and it includes a second round of ppp loans for affected small.

Congress has passed a new stimulus bill consolidated appropriations act of 2021 that contains many provisions designed to help small businesses that continue to struggle in the wake of the covid 19 pandemic.