Candice Gerlach

Creating Deductions by Using Your Vacation Home for Business Lodging

Creating Deductions by Using Your Vacation Home for Business Lodging   Here are some fun facts about business lodging: the properly used business vacation home or condo does not suffer from: The vacation-home rules, The passive-loss rules, or The entertainment-facility rules. In the modern days of COVID-19, you may have solid reasons to use your …

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Nine Insights into PPP Loan Forgiveness for the Self-Employed

1. Do I Have to Spend the Paycheck Protection Program (PPP) Loan Proceeds?  Yes, from the looks of the law. The instructions for line 9 of Schedule A for the U.S. Small Business Administration’s (SBA) Form 3508 PPP forgiveness application state: Line 9: Enter any amounts paid to owners (owner-employees, a self-employed individual, or general partners). …

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Making Smart Choices from the COVID-19 Tax Relief Options

Making Smart Choices from the COVID-19 Tax Relief Options   The Paycheck Protection Program (PPP) Increase Act of 2020 adds billions of dollars to the already $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act is a well received gift to individuals and businesses, including meaningful tax relief. The recent …

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PPP Means Free Money if handled right

Are You Self-Employed with No Employees? You’re Eligible for COVID-19 Cash

Are You Self-Employed with No Employees? You’re Eligible for COVID-19 Cash Would you think you would ever hear: “I’m from the government, and I’m here to help.” Well it’s actually kind of a true statement in the strange times of COVID. The Government: “I’m going to give you $20,833 today. I want you to give …

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