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Don Farmer: Maximizing PPP Loan Forgiveness (Webcast)

Description

DON’T MISS DON FARMER’S RAPIDLY APPROACHING PPP LOAN FORGIVENESS WEBCAST!
Don’s Presentation and Materials Will Include Detailed Coverage Of The Just-Released SBA Interim Final Rules For PPP Loan Forgiveness (45 Pages), Including Guidance On Topics Such As: Loan Forgiveness Calculation For Self-Employed Individuals, Partners, and S Corporation or C Corporation Shareholder/Employees; Whether Bonuses or Fringe Benefits Paid During 8-Week Testing Period Are Included In Qualified Payroll Costs; How to treat a Furloughed Worker Who Rejects A Rehire Offer; Can We Pre-Pay Rent and Utilities During The 8-Week Testing Period: Detailed Discussion of the Wage Reduction and FTE Reduction Rules; How To Determine Qualified Costs – Paid or Incurred During The 8-Week Testing Period: and Much More!

Learning Objectives

• The treatment of partners, self-employed individuals, and S corporation owners,
• Determining FTEs,
• Avoiding reduction in forgiveness amount because of a reduction in FTEs or a decrease in an employee’s compensation, including new safe harbors for avoiding these reductions,
• Choosing an alternative 8-week period for determining loan forgiveness,
• The meaning of costs “paid and incurred” during the 8-week period,
• Determining costs qualifying for loan forgiveness including the determination of mortgage interest, rents, and utilities and the 25% limitation for these expenses.

Major Topics

• Employee Retention Credit. There are many businesses that did not receive PPP loans or that repaid the loans by the SBA’s required deadline. Those businesses may qualify for the Employee Retention Credit (ERC). The ERC is equal to 50% of an employee’s qualifying wages up to a maximum $5,000 credit per employee. This credit may be claimed on an amended Form 941. Don will review the ERC provisions including key items covered in the more than 90 FAQs issued by the IRS.

• Other Recent CARES Act Developments. The primary focus of this webcast is the PPP loan forgiveness provisions. However, time permitting, Don will review other recent CARES Act developments.

Provider
Don Farmer, CPA PA
Course Level
Update
CPE Field of Study
Taxes
4
Who Should Attend

Those looking for an update on PPP Loan Forgiveness.

Instructor(s)
Don Farmer
Prerequisites

None

Location
Webcast
Event Information
When
Jun 4, 2020
8:30 am - 12:30 pm MST
Location
Webcast
Total CPE Credits
4
Format
Webcast

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Don Farmer: Maximizing PPP Loan Forgiveness (Webcast)


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