New Stimulus Package For Business Owners

Here are the most important provisions for small business owners.

New stimulus package for business owners. Congress has passed a new stimulus bill consolidated appropriations act of 2021 that contains many provisions designed to help small businesses that continue to struggle in the wake of the covid 19 pandemic. Congress took its time and president donald trump held it up but a new stimulus package was finally signed into law on sunday night. The second stimulus bill the economic aid to hard hit small businesses nonprofits and venues act has been passed by congress and signed into law by president trump.

What the new stimulus package means for business owners december 23 2020 by katie brewer with just days left of 2020 another stimulus package is on its way as part of the omnibus spending package. All payments provided for in the new stimulus law will be capped at 9 000 a month to help owners navigate the pandemic the agency covered six months of payments on all existing loans and any new. 133 is a 2 3 trillion spending bill that includes 900 billion in covid 19 relief funds.

If you are a small business owner the covid 19 stimulus package that congress passed on monday evening december 21 2020 has some very good news. In addition to more paycheck protection program funds available congress passed tax relief for small businesses. Demand for the popular paycheck protection program ppp has been massive since the application window opened on april 3.

Fortunately it contains some help for small business owners. The document is over 5 000 pages long you can check it out here for some light reading. It s a giant last minute bill some 5 593 pdf pages long but fortunately you don t have to read the whole thing.

For small business owners here is a partial breakdown of the 900 billion relief package. To qualify a business must. Separate from the stimulus package the tax credit is for 50 of up to 10 000 in wages for each employee if a business has been hurt by covid 19 according to the irs.

Congress and the trump administration recently approved another round of federal stimulus to aid small businesses impacted by covid 19.