When it comes to setting expectations for 2021, the bar is admittedly low. But, after what seemed like an eternity for small business owners, more help is arriving.

As the second coming of the PPP prepares to roll out, provisions have been made that will bring your dreams of upgrading your technology and software to life.

While the new PPP still requires that payroll costs must make up 60% of forgivable expenses, there’s a new twist—cloud computing costs and services will now be considered a forgivable expense.

To put it simply, any cloud computing service will be FREE for your business courtesy of Uncle Sam. (AND it’s tax deductible now, too!)

President Trump has delayed signing the bill citing a desire to send larger, one-time stimulus checks to all citizens, but we assume that the provisions provided for small businesses will not be altered.

Here’s What’s New This Time:

• New covered operations expenditures – “means a payment for business software or cloud computing service that facilitates business operations, product or service delivery, the processing, payment, or tracking of payroll expenses, human resources, sales and billing functions, or accounting or tracking of supplies, inventory, records and expenses”
• Expenses applied to PPP loan forgiveness are now deductible for federal tax purposes. 
• If you didn’t get your money from the first PPP, you can ask for more this time.
• A “necessity test” is still part of the application process.