If plan to apply for PPP money, or if you've received PPP money and you need clarity about the innerworkings of the loan, take a look at this webinar recording, Forgive Us Our (PPP) Debts. Becky Phillips, CPA, of MCM CPAs & Advisors and her MCM team member Theresa Batliner, CPA, will help both current and future recipients of PPP loan funds understand:
(a) how to calculate loan forgiveness;
(b) how the amounts forgiven might be reduced;
(c) what documentation you need to establish forgiveness; and
(d) how to account for the loan and forgiveness.
Additional FAQ Guidance from the SBA on PPP Loans
Three times last week, the Small Business Administration added questions and answers to its prior FAQs on the Paycheck Protection Program, issued April 23. Click Here to see the updated set of FAQs, current through May 6.
According to Ms. Phillips and Ms. Batliner, as of last Tuesday there are still funds available if you need to apply for a PPP loan. To learn about the types of financial assistance available to your business through the SBA, Click Here.