Josepha Adami News Today

Important information about the new Stimulus Act Written by Joseph Adami, CPA Important information you should know about the new Stimulus Act: 1. A new round of PPP loans. An existing loan can be increased.  2. EXPENSES PAID WITH FORGIVEN LOANS ARE DEDUCTIBLE.  3. 100% of business meals deductible in 2021 and 2022.  4. Medical expense exclusion made permanent at 7.5% of AGI.  5. Stimulus payments are half of the first act. Income thresholds are the same as the first set, but ph...