Among the provisions of the recently-passed stimulus package benefiting real estate: $25 billion in rental assistance to states and clarification that business owners can deduct business expenses on their federal tax returns that were paid using a forgivable Paycheck Protection Program (PPP) loan. The National Association of REALTORS® (NAR) and other industry groups argued that […]
Stimulus Vote – Updated
President Donald Trump signed the coronavirus relief bill on Sunday, Dec. 27, which includes a $900 billion relief package and averts the government shutdown that would have started Tuesday. Because pandemic relief programs lapsed on Saturday, some of the more than 12 million Americans who rely on them may experience a blip in aid. The […]
What It Means: President Signs Paycheck Protection Extension
President Trump has signed the Paycheck Protection Flexibility Act into law, extending the amount of time Paycheck Protection Program (PPP) loan recipients have to spend their funds from eight weeks to 24 weeks. It also lowers the portion of funds borrowers must spend on payroll costs to 60 percent, down from 75 percent in order […]