The quantity of information, general public viewpoint, and doubt surrounding the pandemic could be confusing and overwhelming. As year-end approaches, many business people are turning their focus on income tax preparation and economic projections. This is an undertaking that is cumbersome the unknowns and constantly changing regulations.
Here are a few key factors for year-end financial record and income tax return intending to make sure you are making the most of all prospective opportunities.
Accounting for PPP loans
There are two main choices designed for presenting and accounting for Paycheck Protection Program (PPP) loans which is crucial that management think about the advantages and disadvantages of every in terms of both the existing and future statement that is financial. Continue reading