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A Holiday Miracle: New PPP Funds, Second Draw Loans & Tax Relief

To help our clients and other business owners and leaders respond to the unprecedented leadership disruptions caused by the coronavirus (COVID-19) outbreak, the team at NAVIX offers the following crisis management information series.

A Holiday Miracle: New PPP Funds, Second Draw Loans & Tax Relief

In a surprising turn of events, Congress and President Trump acted, as part of yet another omnibus COVID relief package, to add new funds into the Paycheck Protection Program (PPP) and override the IRS’s previous attempts to tax PPP loan forgiveness.

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ALERT! IRS Affirms Non-Deductibility of PPP-Funded Expenses

To help our clients and other business owners and leaders respond to the unprecedented leadership disruptions caused by the coronavirus (COVID-19) outbreak, the team at NAVIX offers the following crisis management information series.

Alert! IRS Affirms Non-Deductibility of PPP-Funded Expenses

In a move that will disappoint many business owners and leaders, the IRS has affirmed its earlier position that taxpayers cannot claim an income tax deduction for business expenses that would otherwise have been deductible if the payment of that expense results in forgiveness of a Paycheck Protection Program (PPP) loan. The PPP loan program was created under the CARES Act passed earlier this year in response to the COVID-19 crisis.

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Company Sales Rebounding Despite COVID-19

The COVID-19 pandemic brought many aspects of US society and business activity to a halt in March of this year, including sales of small to mid-market companies. Yet already there are signs that mergers and acquisitions activity (M&A) is rebounding for small to mid-market companies, an encouraging development for business owners who seek to exit from their companies by way of sale to an outside buyer. The emerging increases in company sales come after deal value in the US fell by 20 percent in the first half of 2020 to according to PitchBook Data. Deal value declined by one-third in the second quarter alone.

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The Leadership Hacker Podcast: Leading in the End Zone w/ Patrick Ungashick

NAVIX CEO recently had the pleasure to be a guest on The Leadership Hacker podcast. If you enjoy podcasts, and want to learn more about preparing yourself and your company for exit, check out Patrick’s interview on your favorite podcast platform.

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Are You Ready to Exit Your Business?

While many companies, their owners, and their leadership teams struggle with severe economic impacts from the COVID-19 virus, many other companies, and their owners are increasingly eager to move forward with planning their business exit. Here in the US, millions of US Baby Boomers still own companies. They are quickly reaching a point where they want a clear path to a successful exit—without waiting for another five to ten years to get there, and without having to go through yet another recession or other calamity. In response, we have several existing resources here at NAVIX to help business owners assess how ready you may be to exit, and what you should consider doing to best achieve your exit goals.

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