A Step Above Traditional Business Accounting
We know how difficult it is to keep up with ever-changing tax codes and resolution programs. You don’t have time to keep up with it all, much less create strategies to find relief from your tax burden.
At Keith Stoller Tax And Business Solutions, we offer a wide range of tax help and services to meet your exact needs. Consult with us today to see if you qualify for PPP tax forgiveness. We know the challenges of applying for the PPP loan and ultimately filing for forgiveness. Keith Stoller Tax And Business Services is built on personal relationships based on decades of tax success for our clients.
Does Your Business Qualify For PPP Loan Forgiveness?
See why we’re the highest rated tax relief professionals in Kern County.
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Deposit the loan proceeds into a segregated bank account.
Although not required under the Act, segregating the funds may help you prevent commingling with other funds and more easily track the PPP loan proceeds for forgiveness calculation purposes.
A segregated account may also help ensure that the funds are not inadvertently used for unauthorized purposes. If the funds are used for unauthorized purposes, they must be repaid, and, if knowingly used for unauthorized purposes, you may be subject to additional liability, such as fraud.
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Maintain Proper Documentation
Payroll tax filings and other appropriate documentation (i.e., cancelled checks, payment receipts, and transcripts of accounts) will be necessary to document that the proceeds were spent on authorized expenses during the 8-week period.
The Small Business Administration (SBA) requires that at least 75% of the loan proceeds be used for “payroll costs.” Further, at least 75% of the forgiven amount must be attributable to “payroll costs,” and no more than 25% of the forgiven amount may be attributable to eligible expenses other than “payroll costs.”
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Who We Are
Professional Accounting Services in Kern County with a Personal Touch
The entire reason we created Keith Stoller Tax And Business Solutions was for families just like yours. Our job is to make your life easier, and we spend tremendous amounts of time researching tax programs to enhance your chances of receiving tax forgiveness. We will also sit down with you to learn about your specific challenges and where you need help, every single one of our services are custom-tailored to your specific needs.
If you’re looking for an PPP tax company that’s truly invested in solving your tax problem, please call us today at (844) 465-7829 to learn how we can help.
Don’t short yourself on allowable payroll costs.
What qualifies as payroll during the forgiveness period following the loan (eight or 24 weeks) is broader than you might think.
It’s not limited to salary, wages, commissions, and tips. PPP also includes:
payments for leave (vacation, parental, family, medical, and sick leave).
employer contributions to group health care benefits (including insurance premiums) for employees,
employer contributions to defined benefit or defined contribution qualified retirement retirement plans for employees, and
employer -paid state and local taxes assessed on compensation
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See Why Our Clients Rave About Our Tax Services
Keith is my go to tax Guru. I have trusted Keith with my taxes for over 8 years since I became self employed. And now he manages the taxes for our store, for my sisters, and for several friends. I highly recommend Keith for any of your tax needs!
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