EC Nebraska | bandit_06 - 1/9/2021 17:24
I would think that would be hard to prove for most sole prop. but could be possible. Every farm is different and I am by no means a tax expert just the way I understand the rules as written right now. Government is always moving the goal posts it seems like.
How would it be difficult to prove? 2019 gross receipts by quarter compared to 2020 gross receipts by quarter. Should be pretty easy to do. My second quarter 2020 gross receipts is about 20% of second quarter 2019 gross receipts. Seems pretty easy to prove, but I'm no tax expert either.
Now, it really doesn't seem ethical to go after even more government money when grain prices are where they are. If beans were under $8 and corn was under $3 like I thought they were going to be, then I'd be looking into second draw PPP pretty seriously. As is, I don't want a government loan under Biden anyway. |
PPP and taxes.
