Returning to Business and PPP Loan Forgiveness

Kristina E. Curry, Legal News, Legal News for Businesses, Legal News for Individuals, Matthew D. Stokely, Senney Says by Jeff Senney

What if I Offered to Rehire Employees and they Refuse? The loan forgiveness portion of the Paycheck Protection Program (PPP) Small Business Administration (SBA) loans will permit Employers who borrowed during the Covid-19 crisis to have up to 100% of the balance of a loan forgiven if the employer-borrower meets certain criteria.  Generally, these criteria…

Qualified Opportunity Funds

Business, Tax & Real Estate, Legal News, Legal News for Businesses, Legal News for Individuals, Senney Says by Jeff Senney

The recently enacted Tax Cuts and Jobs Act (“TCJA”) introduced two tax saving opportunities.  One option permits a taxpayer to defer gain from the sale of property that is reinvested in an investment in a Qualified Opportunity Fund (“QO Fund”).  The second option permits the taxpayer to permanently exclude gain from the sale or exchange of the taxpayer’s…