With the onset of the COVID-19 virus and the shutdown of the worldwide economy the government has enacted three stimulus plans and numerous executive orders and regulatory changes. Are you up to date on all the various stimulus packages and tax breaks, including recent SBA and IRS guidance?
This course is designed to review changes made to help people and businesses survive the COVID-19 pandemic, so accountants and other financial providers can properly advise their clients on the recent changes. We will discuss changes in tax law, employment law, stimulus loans and grants, student loans and other regulatory changes. The emphasis of this course will be on accounting for, and auditing, these changes in the laws and regulations, as well as advising clients on the changes.
Publication Date: April 2021
Designed For
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
- Stimulus Plans for Businesses
- Review of the Paycheck Protection Program
- PPP Round 2
- PPP Tax Changes
- PPP Forgiveness
- Review of the Economic Injury Disaster Loan (EIDL)
- Review of the Shuttered Venue Grants
- Review of the Restaurant Revitalization Grants
- Stimulus Plans for Individuals
- Stimulus Checks
- Student Loan Payments
- Income Tax Changes
- Payroll Tax Changes
- Net Operating Loss Changes
- Paid Sick Leave Changes
- Unemployment Changes
Learning Objectives
- Identify stimulus plans for businesses and individuals
- Identify changes made to help people and businesses survive the COVID-19 pandemic
- Recognize how to advise your clients of these recent law and regulation changes
- Recognize eligible expenses under PPP loan funds
- Identify how long businesses have after the end of their loan window to submit for PPP loan forgiveness
- Identify what payroll costs are included
- Describe the maximum number of employees a business could have when qualifying for an EIDL loan
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.