The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and provisions for some hard-hit areas aimed at mitigating the continuing economic impact of the Covid-19 pandemic.
Small businesses saw more stimulus in a second round of the Paycheck Protection Program (PPP), which we’ll call PPP2. PPP2 is potentially very helpful, but be quick, the deadline for applications is March 31, 2021. President-elect Biden is already talking about the next stimulus package, but let’s take a quick look at PPP2 and another facet, a ‘Stealth Stimulus,’ the Employee Retention Credit (ERC). The new law allows businesses to leverage both the PPP2 and the ERC, offering double benefit. The ERC was significantly increased as well. Here are some highlights...
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Image is Getty from original post on Forbes.com.