On January 15th, the Small Business Administration (SBA) has begun accepting applications for the second round of Paycheck Protection Program (PPP) loans. To be eligible for a second PPP loan — which cannot exceed $2 million — a business must have 300 employees or...
ZOMMA GROUP BLOG
PPP Update: Tax Implication for PPP Loan Proceeds
As of December 20, 2020, Congress agreed on stimulus payments to combat the struggling economy in the wake of the Covid-19 pandemic. The Emergency COVID Relief Act of 2020. The new package approved by Congress provides an additional $900 billion to stimulate the...
RISE Miami-Dade Small Business Loan Deadline Approaching
In response to the current economic hardship created by the Covid-19 Pandemic, Miami-Dade County has created a new loan opportunity called RISE Miami-Dade. The county created the loan program to help small businesses in Miami-Dade County impacted by COVID-19. New...
PPP Loan Forgiveness – Key Points
Did you get a PPP Loan? Wonderful! Although information for loan forgiveness may be confusing to decipher, we put together some key points to help you understand the loan forgiveness process. Application Due Date: There is no formal due date to apply for loan...
Learn How to Stay Safe From SBA PPP Scammers Online!
Fishing is awesome! Phishing is not! The SBA has become aware of a new ruse used by criminals targeting Small Business Administration (SBA) PPP loan applicants. Criminals are using social engineering techniques to impersonate the SBA and its Office of Disaster...
What is Estate Planning?
Why do Estate planning? I don’t want to think about it! Let my family members figure it out! Why spend money right now? I am still alive and kicking! Estate planning is necessary to avoid giving your money to the government as opposed to your loved ones! Estate...
PPP Loan Forgiveness Application Revision Announced by SBA
As of June 16, 2020, The U.S. Small Business Administration (SBA) released the updated PPP (Paycheck Protection Program) Loan Forgiveness Application, which replaces the application that was released last month on May 15, 2020. H. R. 7010, commonly known as The...
The Main Street Lending Program’s New Expansion Updates
The Federal Reserve's $600 billion Main Street Lending Program assists SMB's with less than 15,000 employees or annual revenues of $5 billion or less in 2019. The MSLP supports small to medium-sized businesses the working capital to stay afloat during and after the...
Luca Cancellier Feature on the St. Thomas University Newsletter
Our Senior Accountant has been featured in St. Thomas University newsletter. What brought you to St. Thomas University? After obtaining a bachelor and a master’s degree in Italy, St. Thomas University was among a few universities recommended to me by an immigration...