CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

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The SBA Makes PPP Loan Forgiveness Easier for Freelance Businesses

The U.S. Small Business Administration (SBA) just made applying for forgiveness of Paycheck Protection Program (PPP) loans under $150,000 easier with the introduction of an online portal where borrowers of PPP funds can directly apply for forgiveness without involving their bank lender. This change is good news if you are a freelancer who leveraged a […]

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Did You Get a PPP Loan for Your Freelance Business? Request Loan Forgiveness

The Paycheck Protection Program (PPP) has been a lifeline for many freelancers and small businesses who experienced a loss of revenue due to the COVID-19 pandemic. Over the past year, the program was expanded several times to allow more participants to take part in it and receive funding—the government even made the loans forgivable. This […]

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The Application for the New Round of PPP Funding is Now Available

One of the key provisions of the new HEALS Act is a second round of the Paycheck Protection Program (PPP) loans. On January 9, the Small Business Administration (SBA) released its application for businesses to apply to receive “PPP2” funding. There is more than $284 billion allocated for forgivable “PPP2” loans with a reduction in […]

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How Will the NEW COVID-19 Stimulus Bill Impact Your Freelance Taxes? Here’s What We Know.

Amid all of the doom and gloom related to the continuing COVID-19 pandemic, on December 21 Congress provided a ray of hope with a $900 billion stimulus package—just in time for the holidays. While there are provisions in the bill for individuals, healthcare workers and small businesses, there are some particular perks for freelancers—especially if […]

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Self-Employed? Here’s What You Need to Know About PPP & EIDL Loans

If you were able to get a loan under the Payroll Protection Program (PPP) recently, you should be aware of some important follow-up guidance recently released by the IRS which may impact your taxes. PPP loan forgiveness, self-employment income and your taxes Based on the new PPP guidance available to date (which is fluid and […]

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IRS Issues New Guidance on Payroll Protection Program Loan Forgiveness

If you were able to get a loan under the Payroll Protection Program (PPP) recently, you should be aware of some important follow-up guidance recently released by the IRS which may impact your taxes. PPP loan forgiveness, self-employment income and your taxes Based on the new PPP guidance available to date (which is fluid and […]

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What Freelancers Need to Know About Payroll Protection Program Loan Forgiveness

The Payroll Protection Program (PPP) loan fund is now officially tapped out, but if you were able to secure an SBA loan through this program for your freelance business it is important to know how the forgiveness of this loan will work on your 2020 tax return. First, let’s look at what are considered qualified […]

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