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Beginning April 6, 2021, the U.S. Small Business Administration (SBA) is expanding its Economic Injury and Disaster Loan (EIDL) program, the organization announced in a press release. Small ...
A personal loan may offer a cheaper way out of tax debt if you can meet 3 key criteria. Learn the benefits and drawbacks — including alternatives — in this comprehensive guide.
Interest payments on student loans, mortgages and business loans can be reported as tax deductions. However, personal loan interest payments only qualify as tax-deductible under certain circumstances.
President Trump signs the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), April 24, 2020. The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self ...
Small businesses also will be able to use these credits against the Alternative Minimum Tax. Boosts the tax deduction for start-up expenses to $10,000, for small business owners who spend $60,000 or less to start their business. Allows cell phone costs to be deducted or depreciated like other business property.
The loans are available through the Farm Service Agency (formerly Farmers Home Administration). EM loan funds may be used to help producers recover from production losses (when the producer suffers a significant loss of an annual crop) or from physical losses (such as repairing or replacing damaged or destroyed structures or equipment, or for ...
Disaster loan information and application forms can also be obtained by calling the SBA's Customer Service Center at 800-659-2955 (if you are deaf, hard of hearing, or have a speech disability ...
The loan amounts are based on need and cannot exceed either (1) 25 percent of the annual operating budget of that local government for the fiscal year in which the disaster occurs and not exceeding $5,000,000, or (2) if the loss of tax and other revenues of the local government as a result of the disaster is at least 75 percent of the annual ...