Small businesses still struggling with COVID impacts must consider tax implications, too

Dec 29, 2020
Many received PPP loans. And that means new tax questions for 2021 filings.
A closed dining area outside a Manhattan restaurant on Nov. 13, 2020.
Spencer Platt/Getty Images

Shipping delays cause problems for small retailers

Dec 22, 2020
We’re expecting record online sales this holiday season, and shippers are having a hard time keeping up.
Postal workers sort, load and deliver mail outside a USPS location in Los Angeles, California, in August.
Kyle Grillot/AFP via Getty Images

Business economists predict tough winter before 2021 rebound

Dec 7, 2020
Economists expect moderate GDP growth in the fourth quarter, after a fall where consumer spending gave some businesses a boost.
A new survey from the National Association for Business Economists predicts just moderate economic growth in the last quarter of 2020.
Tolga Akmen/AFP via Getty Images

What small business owners might expect from Biden

Dec 7, 2020
Biden has pledged to provide additional resources for small businesses. Business owners say the type of aid matters.
Biden has called for flexible grants to businesses that have lost substantial revenue. He also wants to refocus the Paycheck Protection Program on businesses with fewer than 50 employees, instead of the current 500.
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Paycheck Protection Program loan recipients face a new challenge: Taxes

Nov 17, 2020
As the year draws to a close, small business owners are starting to figure out their tax liabilities for 2020. That's complicated for businesses that got Paycheck Protection Program loans.
Empty chairs are seen inside a restaurant in New York on Nov. 13, 2020. Businesses whose PPP loans are forgiven are not allowed to claim deductions on expenses that were paid for using loan money.
Kena Betancur/AFP via Getty Images

Paycheck Protection Program loans have been a lifeline — for some businesses

Nov 11, 2020
Two PPP recipients discuss their relief loans and the challenges of staying open through the pandemic.
PPP loans helped keep some businesses afloat, but restaurants and bars are still struggling — especially as COVID-19 cases rise.
Spencer Platt/Getty Images

The job market is still in recovery, but it's also still losing momentum

Nov 6, 2020
The decline in unemployment has slowed since an early rebound from the first wave of COVID-19 shutdowns.
The manufacturing and construction sectors have done pretty well throughout the pandemic, but But, jobs in travel, hotels and restaurants are still way down.
Olivier Douliery/AFP via Getty Images

For public good, not for profit.

The Fed wants to lend money to more small businesses, but many aren't interested

Nov 2, 2020
The central bank dropped the minimum loan amount under its Main Street Lending Program to $100,000. But not many businesses feel confident taking out loans they'll have to repay in five years.
A bartender prepares to open his bar in Ocean City, Maryland, amid the pandemic, May 29, 2020.
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Small business optimism overall is way up, but not for all owners

Oct 13, 2020
A survey from the NFIB finds optimism at pre-pandemic levels, but not necessarily for businesses in the service sector like restaurants and retail shops.
Small businesses in the services sector have a more bleak outlook as they continue to navigate COVID restrictions.
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Small businesses are having a hard time hiring, despite high unemployment

Oct 9, 2020
Many furloughed workers are hoping to return to their old jobs.
A waitress folds silverware at a restaurant in Youngstown, Ohio, in September. Small businesses are having trouble hiring even though millions of Americans are out of work.
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