Let’s start today with a couple of questions I’ve been getting here at Serrano Bookkeeping from our San Diego small business clients about the second round of the PPP, and some of the new provisions of the recent bill that affect businesses.
If I received the first PPP, should I include this number in calculating whether I “lost 25%+” to qualify for the second round?
As you might remember, the requirement in order to receive a second PPP is that the small business has less than 300 employees and can demonstrate a revenue reduction of 25 percent. But that revenue reduction figure should NOT include any funds from the first PPP.
Also, you can calculate this either by quarter or by fiscal year — whichever is more advantageous. Many area small businesses need help with these calculations … that’s what we’re here for.
If I received the “grant” portion of the EIDL, is this considered taxable income?
No 🙂
Now … I’m sure there might be more things you’re wondering. Send us an email, or use this: https://calendly.com/serranobookkeeping/15min?month=2020-11
Luis Serrano’s
“Real World” Business Strategy
“Life is really simple, but we insist on making it complicated.” -Confucius
- A company’s linear growth tends to be from improving its Operating Systems. ‘S.E.E.’ these systems and be greedy for all three. Speed – Efficiency – Execution. Let’s focus on Speed.
- In 1949 a Ferrari 166 took 10 seconds to go from 0-60. If you had asked someone then if it was possible for a Ferrari to go 0-60 in 6 seconds they would have thought it impossible. Yet in 1964 the Ferrari 250 GTO did just that. Again, if you asked if it was possible for a Ferrari to go faster it may have seemed impossible. Yet a Ferrari 488 today can go 0-60 in under 3 seconds. Lesson – what seems an impossible speed may be possible.
- Speed – This kills the competition. List the steps in your processes and look to remove or condense steps. Find flawed processes and adapt, improve, refine, and repeat.
- Speed to Expansion – In New Markets, Acquisitions, New Products, New Service Offerings.
- The time savings from speeding up a process compounds as you save that time each week, month, year(s).
Make a goal to find at least one area to speed up this week and go get ’em!
Rember to call your parents when you think of them, and tell your friends when you love them.
I’m grateful for our partnership, and for your referrals,
Warmly,
Luis Serrano
(619) 997-4185
Serrano Bookkeeping
Feel free to forward this article to a business associate or client you know who could benefit from our assistance, and we always make room for referrals from trusted sources like you.