Adam Jarchow of Jarchow Law, LLC, says that businesses who have received a Paycheck Protection Program (PPP) loan should be wary of the tax implications in 2021. Adam, who also owns several businesses, says that due to these tax implications, in 2021, "lots of small businesses will be hit with this. It’s going to hit like a ton of bricks [...] thousands will fail.”

Adam broke down a scenerio via Twitter.

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