Paycheck Protection Program (PPP Loans): A Roadmap for Maximizing Forgiveness (Completed)

Date: Thursday, May 28, 2020
Instructor: Greg White
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

Final forgiveness regulations were issued May 22. We’ll review these brand-new regulations and cover concepts to maximize debt forgiveness and complete the Forgiveness Application Form:
• Using PPP funds to maximize forgiveness.
• Filling out the forgiveness application (we’ll include many examples including sole proprietors, partners, and employers).
• Salary payments – how to receive debt forgiveness greater than the amount paid for salary. This involves maximizing the forgivable amount of rent, interest, and other payment through the payment of additional salary.
• Monitoring the disbursement of funds.
• Preparing for the bank review of your forgiveness request.

Who Should Attend
Any tax practitioner advising individual and business clients.

Topics Covered

  • Practical planning ideas to maximize forgiveness
  • Monitoring the status of PPP funds
  • Planning for the "25% cap" for non-payroll costs

Learning Objectives

  • Recognize how to compute the amount of debt forgiveness and limit on nonpayroll expenses
  • Identify how to monitor the disbursement of funds
  • Recognize how to develop practical steps for unused funds near the end of the 8-week covered period

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparations for individual and business clients.

Advance Preparation
None

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