PPP Funding | EIDL Advance | Palma Financial Services

[cs_content][cs_element_section _id=”1″ ][cs_element_layout_grid _id=”2″ ][cs_element_layout_cell _id=”3″ ][cs_element_image _id=”4″ ][cs_element_text _id=”5″ ][cs_content_seo]Biden’s American Rescue Plan:

How does this affect you. Here are a few insights into what to expect in the coming weeks:

More PPP funding of $7.5 Billion increasing the PPP program level from $806.4 billion to $813.7 billion.
Employee retention credit will now be allowed in Q3 and Q4, bringing the total credit per employee to $28k.
An expansion of the child tax credit to give families up to $3,600 per child over a year
Various non-profits listed in Section 501(c) will now be allowed to take PPP.
Additional Targeted EIDL Advance of $15B for small businesses only received a portion of the expected $10k advance last year for hardest hit small businesses.
Other eligible entities are now allowed to take PPP second round.
$25 billion in new funding available for restaurants and other food and drinking establishments
Additional $1.25 in SBA Shuttered Venue Operators Grant Program.
Extended credit dates for the FFCRA
Payments of $1,400 to most individuals, along with the same amount for each dependent.
Checks start to phase out at $75,000 in income and go to zero for individuals making $100,000
A $400 per week unemployment supplement through August 29, 2021.
A $15 per hour federal minimum wage, which the Senate parliamentarian will not allow in the reconciliation bill on the other side of the Capitol

Now don’t get too overwhelmed. There is a lot to digest, and navigating the right items to focus on will be essential.

Book a time here, and let’s chat.\n\n[/cs_content_seo][cs_element_layout_row _id=”6″ ][cs_element_layout_column _id=”7″ ][cs_element_button _id=”8″ ][cs_content_seo]Book Your Appointment Today!\n\n[/cs_content_seo][/cs_element_layout_column][/cs_element_layout_row][cs_element_headline _id=”9″ ][cs_content_seo]Miguel A. Palma, CPA, PFS, CGMA\n\n[/cs_content_seo][cs_element_text _id=”10″ ][cs_content_seo]Founder of Palma Financial Services, Inc.
[email protected]

Palma Financial Services, Inc. (“PFS”)has helped small business owners minimize income taxes and build wealth since 1998.

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