Schedule C Filers

Schedule C Filers, Rejoice!

The SBA issued new Paycheck Protection Program guidelines allowing those that are self-employed and file Form 1040, Schedule C to calculate their maximum loan amount using gross income instead of net profit. Larger loans could help the self-employed and gig workers that have been hit particularly hard by the economic downturn survive the pandemic. These…

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Second Draw Loans

PPP Second Draw Loans

Loan applications through the Payroll Protection Program will soon be available to all small businesses. If you or your business received a PPP Loan during the first round and could use additional aid, you may qualify for a second round of funding. Abedian + Totlian has received guidelines from our bank on PPP Second Draw…

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California Relief Grant Program

A new grant program, funded by the state of California, rolls out today. The grant, which is available to small businesses in California, aims to give funds to businesses that have been impacted by the Covid-19 virus and the subsequent safety and health restrictions. This grant is not awarded on a first come, first served…

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New Year, New Stimulus

After months of partisan haggling and threats of a presidential veto, a new $900 billion Covid-19 relief package has been passed to help bring much-needed aid to American families and small businesses.   The new stimulus bill includes: -Payments up to $600 (potentially $2,000 pending a vote in the senate) per person for individuals earning…

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Handling COVID-19 From a Financial Point of View (Video)

Emil Abedian speaks with Gudrun Giddings, President of SACC-LA, about how to handle the COVID-19 pandemic from a financial point of view. Learn about how tax regulations have shifted and new loans that have been issued to ease this economically stressed situation. Also, how the new regulations will affect you and how to benefit from…

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PPP Flexibility Act

The Paycheck Protection Program Flexibility Act is new legislation that makes some much needed adjustments to the loan program, easing some restrictions on small businesses as they seek loan forgiveness. The bill is just awaiting President Trump’s signature. Changes include: -Current PPP borrowers can choose to extend the eight-week period to 24 weeks, or they…

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Is Your PPP Loan “Necessary”?

New guidance has been issued from the SBA regarding the qualifications of the Paycheck Protection Program Loan. This new guidance clarifies the “current economic uncertainty” requirement that a borrower needs to meet in order to apply for the loan. Whether you have already received PPP Loan funds, or expect to, it is important to understand…

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