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What’s New With the Paycheck Protection Program?: What Clients Want You to Know
July 23, 2020 @ 11:00 am - 12:00 pm Eastern
With nearly $130 billion still available for businesses interested in relief from the Paycheck Protection Program, the Small Business Administration has extended the application deadline for new borrowers to August 8. At the same time, legislation such as the PPP Flexibility Act of 2020 has provided more details about loan forgiveness for existing borrowers.
Accountants whose business clients turn to them for guidance are in a scramble to stay up-to-date on the existing legislation. Playing catch-up following the 7/15 Tax Day deadline is a must! On Thursday, July 23, join John Comunale, Vice President, and Tom Hudson, Tax Supervisor for a one-hour educational presentation about the Paycheck Protection Program including what new borrowers should know before applying and what existing borrowers should consider to maximize the opportunity for full loan forgiveness.
This event, for which CPE credit will be available, is sponsored by CPAacademy.
Learning Objectives:
- Discover the implications of extending the time period covered by PPP loans from 8 to 24 weeks
- Learn what expenses are forgivable from the SBA’s point of view as the loans cover essential expenses including payroll, rent, mortgage payments, utilities, and other expenses
- Learn a more in-depth understanding of the PPP loan forgiveness application
- Understand how businesses can strategize to take full advantage of the availability of these loans and maximize the chance for forgiveness
To date, small business loans totaling nearly $500 billion have been approved by the federal government. In the whirlwind of changes and updates about this federal program, CPAs and accountants will feel better equipped to work with their clients after attending this session. During this unusual time, we all need to stay prepared.