The other day I was speaking with a business owner about the process of selling his business. During the conversation, he mentioned that he’d also had a conversation with an out-of-state broker who specialized in the seller’s business type. He told me that broker proclaimed that sellers who engaged small local firms only had a […]
How Many Business Owners Successfully Sell? Read More »
Buying or Selling a Business with PPP or EIDL Loans Problems with first and second draw Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL) have come up in a number of transactions we’ve closed recently. In some situations, a PPP loan or EIDL has delayed closing or even caused the sale to fall apart. So, I
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If you’ve been considering buying a building for your business or making an add-on acquisition to grow your business, now may be the time to act. Part of the economic relief legislation enacted at the end of December – known as the Consolidated Appropriations Act, the law that created PPP2 and made PPP1 funds non-taxable
Special Limited Time SBA 7(a) Loan Opportunities Read More »
Are Expenses Paid with PPP Loan Proceeds Now Deductible? Congress created the Paycheck Protection Program as a loan from the federal government that was forgivable as long as the proceeds were utilized for specific expenses. Since forgiveness of debt creates taxable income, the legislation also provided that the amount of the loan that was forgiven
Are Expenses Paid with PPP Loan Proceeds Now Deductible? Read More »