WebJul 13, 2024 · For example, if a business gets a $20,000 PPP loan, they would need to spend at least $12,000—60% of the loan—on payroll. However, they spend only $9,000 on payroll. This is 75% of the minimum payroll … WebApr 23, 2024 · Chad Nally is a Partner at Burke Costanza & Carberry, LLP and a member of the firm’s litigation and business practice groups. Chad’s practice primarily focuses on …
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WebApr 11, 2024 · From the U.S. Attorney’s Office, Southern District of New York: Damian Williams, the United States Attorney for the Southern District of New York, announced today that restaurateur BESIM KUKAJ was sentenced to 57 months in prison for orchestrating a sprawling loan fraud scheme, including while he was on pretrial release, whereby he … WebJul 20, 2024 · The Tax Cuts and Jobs Act limited itemized deductions for these taxes to $10,000 per year for a married couple filing jointly after 2024. This limit will sunset in 2025 unless it is extended by Congress. This also affected S corporations, because they are pass-through entities. Recently, the IRS clarified that certain state and local taxes paid ... WebApr 23, 2024 · Owner draws, distributions, amounts recorded on a K-1 are not eligible for the PPP program ... iam retired i have a small one man service business im a s corp for over 30 years my business lost money in 2024 i took out 18,000 dollars from my business checking account in 2024 but i dont do payroll taxes im 67 and retired. i ... puritas ave cleveland