On Thursday, April 9, the Federal Reserve introduced the Main Street Lending Program that will permit small and medium-sized businesses to obtain bridge financing through eligible lenders. This is the latest in a series of relief programs to address the economic challenges of the COVID-19 pandemic, and businesses that have applied and/or qualified for the Paycheck Protection Program may also take out a loan under this program. There are restrictions on the use of the loan proceeds, and the borrower must make required attestations. Based on initial information from the Federal Reserve, this program offers loans under the following criteria:
Receive Free financial tips & Tax Alerts!
"*" indicates required fields
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the opposite? And why…
Navigating the realm of capital gains and optimizing tax outcomes require strategic thinking and informed decision-making. Understanding and employing effective capital gains tax strategies is crucial for businesses contemplating asset…
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example,…