Well, Congress seems to have heard the cries of the huddled masses of SMB’s around the country, and more PPP funding is (seemingly) on the way.
Details aren’t finalized yet as of this writing, so I will have more to say on these matters in future weeks.
Even these early signals are still very good news in my book … but I will remind you — unless you have a plan to use these funds properly, they won’t help your Dearborn and Detroit business.
Either you’ll get bit by the tax implications of these (while the debate still rages about the deductibility of PPP-funded expenses), or the funding will end up simply delaying the inevitable demise of your business because you haven’t been able to pivot. (Yes, that 2020 cliche … but it’s real.)
We’re slammed in these final, holiday-crunched days of 2020, putting the finishing touches on last-minute EOY moves for some of our Wayne County SMB clients. We MIGHT be able to squeeze in a conversation by 12/31 about anything tax-related, if you need one …
Alderwish CPA, PLLC
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