This was not a gift. It changed decision-making
by catripledomer (2024-02-24 19:52:56)

In reply to: We’re talking about the double dip which cost me $150b  posted by gregmorrissey

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The issue is the timing of what happened. As it turns out, when COVID hit, my leadership team and I decided to take zero salary and get a PPP loan so that we could retain the 5 people we hired at the end of 2019. Our revenues stayed flat in 2020, then we get a "gift" of taxable income (yes it is taxable because it is income), and I ended up paying taxes on no salary just because we saved 5 jobs. The problem with the scenario is that none of this was made clear until well into 2021, when we already had the burden of 5 extra people and the taxable "gift" from the government.

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