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Paycheck Protection Program (PPP) Loan Facts.


Please refer to our FAQ if you have additional questions.

What is the Paycheck Protection Program (PPP)?

The Paycheck Protection Program provides forgivable emergency loans. The program is designed for “Paycheck Protection” so businesses keep and rehire employees. As a result, if you spend your loan on payroll, rent, mortgage interest, or utilities then the government will forgive your loan so you don’t have to pay it back.

Will I be able to apply for a second PPP loan if I received funds from the first program in summer 2020?

The new round of PPP loans offer a “second draw” for harder-hit businesses that received PPP funding in 2020. Your may be eligible for a “second draw” provided your business does not employ more than 300 employees, has used or will use the full amount of the first PPP, and can demonstrate at least a 25 percent reduction in gross receipts in the first, second, or third quarter of 2020 relative to the same quarter in 2019.

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Need a career change? Prepare to Make Money During the next Tax Season. Take our Rewarding Career Course and take your first step toward financial freedom. Earn over $100.00 per hour after our training. Take the Taxx Tyme 1040 Basic Tax Course Today!

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At Taxx Tyme, you can study and complete class work via the 24/7 convenience of the Internet – which means you can attend class at night after the kids are in bed, in the morning before work, during your lunch hour or at any other time that is convenient for you.  Also what makes it great is that you can use a Home Computer, Laptop, Tablet, or even your Phone.  We make it easy for you to attend class via your mobile device.  

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Module 1 –  Introduction to Tax Preparation

Module 2 – Filing Status

Module 3 – Dependents

Module 4 – Income

Module 5 – W-2 Wages

Module 6 – Schedule C, Business Income or Loss

Module 7 – How to Prepare Clergy Returns

Module 8 – Schedule D, Capital Gains and Losses

Module 9 – Schedule E, Supplemental Income and Loss

Module 10 – Schedule F, Farm Income

Module 11 – Tax Depreciation

Module 12 – IRA

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Module 14 – Schedule A, Itemized Deductions

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Module 16 – Child and Dependent Care Credit

Module 17 – Education Credits

Module 18 – Other Taxes

Module 19 – Earned Income Credit

Module 20 – COMPLIANCE AND ETHICS TRAINING

Module 21 – Tips for Reducing Chances of Being Audited

Module 22 – Ok I’m finished so what now?

Module 23 – Things to be aware of

Module 24 – Choosing your bank

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