irs 7000 tax credit for not taking ppp money
My wife and I own a small tech company and have never qualified for any government help my brother said that there was a 7000 tax credit we dont take regular paychecks because we are a small company we pay our taxes but not social security but we used to pay payroll taxes but they switched it to a draw system can we take the tax break ??? To make matters worse because of a car accident I have lost much of my memory I think she had me sign up for disablity because i cant do things i used to do as i have lost alot of skills i go to work just so i dont get into trouble at home so i cant even get another job.
Terry Says
Well, tax problems are the least of your issues. Beware of taking a “draw” from your company without paying the appropriate income taxes. Eventually you will have to pay the taxes, plus interest. Your brother is wrong in the long run.
But if he wants to be helpful, perhaps he could help you apply for disability, with the help of a disability attorney. And you might also want to contact a personal injury attorney to sue for damages, unless you were at fault in the accident.
