Automatic Forgiveness Update and Ask the CPA - Covid-19 Small Biz Tax Tips: PPP and Beyond

Join special guest CPA and Tax Expert Martin Abo, CPA/ABV/CVA/CFF, as he answers the most urgent tax questions from small businesses:

  1. PPP and taxes: file for forgiveness now or wait? Is PPP taxable income? Will Congress allow a 2nd PPP?
  2. Payroll tax deferral – what is it?
  3. Covid 19 federal tax relief – am I missing any credits?
  4. Any year-end tax planning tips to cut my 2020 tax bill?

We also go over the SBA's new PPP automatic forgiveness application (Form 3508S) for loans of $50k or less and save plenty of time for live Q&A including all your top PPP and EID questions.