The hugely popular federal Payroll Protection Program (PPP) loan program that paid forgivable loans to millions of businesses ended on August 8 (although it could come back in revised form). But you can still obtain a low-interest Emergency Income Disaster Loan (EIDL) of up to $150,000 from the Small Business Administration (SBA).

Are you looking to open a U.S. company? Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities.

As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. And hopefully, in this next package they will include a provision that allows you to deduct business expenses that you pay with your PPP money.

The COVID-19 pandemic may create tax benefit opportunities for you and your family members. For example, you could hire your under-age-18 children, pay them, say, $10,000 each, and they could pay zero federal income taxes. And you or your corporation, the employer, would deduct the $10,000 you paid to each of the children.

If you operate your business as a partnership or an S or C corporation, you face entity-specific Payroll Protection Program (PPP) loan forgiveness rules that apply to you as an owner-worker in the business.