SBA PPP Loan Forgiveness Application: What Small Business Owners Need to Know (Completed)

Date: Thursday, July 9, 2020
Instructor: Robert K Minniti
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

The SBA released the official PPP Loan Forgiveness Application on May 15, 2020. With the onset of the COVID-19 virus and the shutdown of the worldwide economy Congress authorized Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program loans. Are you eligible for a PPP loan? Should you apply for the loan? If your company or client received a PPP loan, some or all of the loan amount can be forgiven. Borrows will need to apply for forgiveness and provide documentation to show how the funds were spent. This course will discuss the expenses eligible for forgiveness and the documentation required to document forgivable expense amounts. We will walk through the SBA PPP Loan Forgiveness Application so attendees can familiarize themselves with the requirements.

Who Should Attend
CPAs, CFEs, CMA, CIAs, CFFs, MAFF, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.

Topics Covered

  • Discuss the expenses eligible for forgiveness
  • The documentation required to document forgivable expense amounts
  • Walk through the SBA PPP Loan Forgiveness Application

Learning Objectives

  • Identify what is required to obtain PPP loan forgiveness
  • Identify what documentation is necessary when applying for a PPP loan forgiveness

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of individual and business clients.

Advance Preparation
None

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