Clearing Up PPP Loan Confusion

Clearing Up PPP Loan Confusion

How to use the money for maximum loan forgiveness Updated September 2020 PPP (Payroll Protection Program) loan confusion has hit hard. Small business owners and self-employed people are scared to use the money the wrong way – but the rules have not been communicated clearly. That’s partly because new “interpretations” keep coming out, and partly because the rules were unclear when the loans first hit the streets (and still kind of are). Here’s the deal: You can ONLY use PPP loan proceeds to pay: Employees through payrollRentMortgage interestUtilities That’s it. You can’t pay contractors. You can’t pay back other loans…

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Don’t Ditch Your Retirement Portfolio! Trust Your Investment Plan.

Don’t Ditch Your Retirement Portfolio! Trust Your Investment Plan.

The stock market is suffering, and I know you’re scared. It’s terrifying to think that half of your money disappeared overnight. But here’s what you need to remember: It didn’t. Until you actually sell the investments in your retirement accounts, you have not sustained losses. It’s the act of selling that locks in your losses and keeps your portfolio from recovering. When you make dramatic changes to your retirement portfolio based on fear – especially if that’s fueled by social media hype – you’re more likely to end up losing out in the long run. You’ll be stuck selling low,…

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