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Batley CPA Tax & Business Alert October 2020

Nonqualified deferred compensation plans allow participants to set aside large amounts of tax-deferred compensation, but also pose substantial risks. This article distinguishes NQCD plans from qualified defined contribution plans and discusses the pros and cons.

Simplified PPP Loan Forgiveness

The U.S. Small Business Administration, in consultation with the Treasury Department, today released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less. This action streamlines the PPP forgiveness process to provide financial and administrative relief to America’s smallest businesses while also ensuring sound stewardship of taxpayer dollars.