In this episode, Susan is closing out 2020 the way she started it, with her friend and colleague, Kate Willeford, CPA. Susan and Kate talk about the current information regarding PPP forgiveness, reviewing your finances and steps you need to take to wrap up 2020!
Episode Highlights
- 2020 Recap
- PPP and EIDL Funding
- Payroll Tax Implications for PPP Recipients
- Organizing QuickBooks
- Keeping Your Finances Clean
- Changes in Payment Forms and Taxes
- 2021 Planning
Quotes
“Little did we know the sky really was falling.”
“The businesses that were able to survive this closure the best, were those that were able to save emergency cash in prior years.”
“I think a lot of people had gotten used to spending 110% of what they made.”
“PPP Funding forgiveness is not something you need to stress over, unless you are selling your practice right away.”
“Congress just didn’t think through the details of how the tax laws work.”
“We are in the middle of a pandemic – things happen.”
“You have your ducks in a row because you love the people that will have to clean up the mess in your absence.”
“I love taking really messy quickbooks and making them clean.”
“Do not wait until the last minute – this is not the year!”
Links & Resources
For Kate’s help, thewillefordgroup.com 770-552-8500
For Susan’s help, susangunnsolutions.com 888-994-3167
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Susan’s Website: https://susangunnsolutions.com
Susan’s Books: https://susangunnsolutions.com/shop/
