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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 ...
In January 2019, Governor Phil Murphy signed an executive order to initiate an audit of the tax incentives made to businesses by the New Jersey Economic Development Authority. [1] It found numerous cases were tax credits given during the governorship of Chris Christie were given under false pretenses.
The SBA was created on July 30, 1953, by Republican President Eisenhower with the signing of the Small Business Act, currently codified at 15 U.S.C. ch. 14A.The Small Business Act was originally enacted as the "Small Business Act of 1953" in Title II (67 Stat. 232) of Pub. L. 83–163 (ch. 282, 67 Stat. 230, July 30, 1953); The "Reconstruction Finance Corporation Liquidation Act" was Title I ...
Jan. 21—The U.S. Small Business Administration has distributed more than $257.3 million in disaster loans for 1,391 applicants who sustained property damage from the Aug. 8 wildfires and high ...
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.
One popular tax deduction is the child tax credit, which grants you up to $2,000 in tax credits per child. There’s also the child and dependent care credit, which lets you deduct up to $3,000 ...
The PPP loan amount is equal to 2.5 times the average monthly payroll costs. For applicants with an Economic Injury Disaster Loan (EIDL) made between January 31, 2020, and April 3, 2020, the PPP loan amount could be increased by the outstanding amount of the EIDL, less any advance received under an EIDL COVID-19. [18]
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 ...