Dr. Ty Talcott (“Dr. Ty The Compliance Guy”) has released a new 4-minute video to provide some key points regarding the new stimulus bill that addresses the questions we’ve been seeing.  The new bill addresses new tax issues regarding the PPP loans (items paid with ‘forgiven’ money can now ALSO be used as a tax deductible expense), how to get a second chance at an original PPP loan, who qualifies for a SECOND PPP loan (the main qualification is that the doctor has to show one quarter of 2020 that had a 25% or greater loss than the same quarter of 2019), and more.

For the video, go to https://vimeo.com/499433501

For the corresponding white paper that Dr. Ty mentions, click here:

https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/839039/The_New_Stimulus_Jan_2021.pdf

Hope you find this helpful!

Julie

Julie K Connolly, FICC

Executive Director