Stimulus Package Update For Small Business

For more information see second stimulus package s relief for small businesses.

Stimulus package update for small business. Monday december 28 2020 on sunday night president trump signed legislation for 900 billion in coronavirus economic aid and 1 4 trillion in government spending and preventing a government shutdown. The new 900 billion coronavirus relief and stimulus package includes. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

100 deduction for business meals. A new round of covid 19 relief loans will be available after president donald trump signed the stimulus package sunday night. For 2021 and 2022 only 100 of the cost of meals and beverages business owners have with customers clients employees and other business associates in restaurants bars and similar establishments are deductible as a business expense.

Here are some highlights related to small businesses that are in the stimulus plan. To aid small businesses and individuals impacted by the covid 19 pandemic the united states government recently passed three landmark acts including the largest economic stimulus package in history. The stimulus package is finally here with just days left in 2020.

The proposed 908 billion stimulus includes measures to aid the unemployed small businesses and state and local governments. Here are the most important provisions for small business owners. 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.

The coronavirus aid relief and economic security act or cares act passed march 27 directs more than 2 trillion to the u s. Below are details of small business provisions of the new stimulus package and as importantly. Keep in mind that this.

What you should do immediately to take advantage of these programs.