If you received a Paycheck Protection Program loan for less than $50,000, your forgiveness process just got easier. On October 8, the Small Business Administration (SBA) released PPP Loan Forgiveness Application Form 3508S which requires fewer calculations and less documentation for borrowers. […]
PPP Forgiveness: 8 Weeks vs. 24 Weeks
The Paycheck Protection Program Flexibility Act made some significant changes to PPP loans. One of the biggest changes was to the eight-week forgiveness period. If you were assigned a PPP loan number or or before June 5, 2020, you now have the […]
PPP Loan Program Extended; Loan Data Released: What Small Businesses Need To Know
On Saturday July 4, 2020, President Trump signed a new law extending the deadline for applying for a Paycheck Protection Program (PPP) loan from June 30 to August 8. This extension comes on the heels of new Interim Final Rules […]
2019 Tax Law Changes
2019 Tax Law Changes Businesses 1. Schedule C-EZ Obsolete Schedule C-EZ is the simplified version of IRS Schedule C, Profit or Loss from Business (Sole Proprietorship). For 2019, the IRS has discontinued Schedule C-EZ, so the long form most be […]
License Classes for Beer, Wine, Liquor Sales in New York
1. License class for beer sales. The New York Liquor Authority recognizes and awards ten different classes of license for the sale of beer. You need to consider the type of establishment you wish to operate and apply for the appropriate […]
Advantages of a corporation versus a sole proprietorship or partnership
This is the most important attribute of a corporation. In a sole proprietorship or a partnership, the owners are personally responsible for business debts. If the assets of the sole proprietorship or partnership cannot satisfy the debt, creditors can go […]
OUR SERVICES
1. Business Setup : We set up C corporation, S corporation, LLC, Professional Corporation, and Non-profit organization in all 50 states. 2. Business License : We help you obtain business licenses such as liquor, restaurant, appearance enhancement, food processing, and […]
The New Form 1040 and Six Accompanying Schedules
Tax reform of 2017 promised us shorter, simpler, tax forms. We even were told that we might be able to file on a form the size of a postcard – although we may have wondered how that would work out. […]
People at Nobel Tax
The people at John & Edwin Keh CPA [John, Edwin, Helen, June, Lukas] have personal experience in starting and running a small business. We draw from this experience to assist our clients with the care and in-depth knowledge critical to […]
Why Your Tax Refund Could Be Lower Than Expected
For some people, the new tax changes mean they will owe more tax. You are most likely to owe more tax in 2018 if: You previously took large deductions for state and local taxes, including property tax. The total deduction […]