Tax Season 2021

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Shuttered Venue Grants - Get 45% of 2019 Revenue

The SVOG, they call it. Stands for “Shuttered Venue Operator Grants”. This new program from the SBA includes:

  • $15 billion in grants
  • Eligible parties include live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators, or talent representatives
  • Must show a 25% reduction in revenues QoQ from 2019 to 2020.
    Must be operational as of 2/29/2020
    Amount granted
      • 45% of gross revenues earned in 2019, up to $10M
      • Second grant up to 50% of first grant (but cannot exceed $10M)

There are many specific requirements we’ll walk you through. For example, the venue or promoter must not have received a PPP loan on or after Dec. 27, 2020. This means that if they did already receive the PPP, they can still get the SVOG. It also allows them to get the EIDL alongside the SVOG.

Additional eligibility requirements are scheduled to be released in the coming days.

Do you think you qualify?

Did you know you can legally reduce your small business tax bill?

Besides doing tax preparation, we do tax planning, which is looking at a person’s life, business, and regulatory requirements to reduce taxes, legally.

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