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WEBINAR: AAFCPAs' Guidance on SBA Loan Forgiveness Application

Tuesday, May 19, 2020   (0 Comments)
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WEBINAR: AAFCPAs' Guidance on SBA Loan Forgiveness Application

Thursday, May 21, 2020 | 12:00 - 1:00 pm

HiClient,

On Friday, May 15, 2020, the Small Business Administration (SBA) released its long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application & Instructions.

When the PPP loan program was announced back in March, it left business owners and their advisors with more questions than answers. The application and instructions are not without issues, but they do resolve several calculation and substantive questions that we have been seeking.

In this 1-hour live webinar, members of AAFCPAs' COVID-19/CARES Act Task Force Courtney McFarland, CPA, MSA and Brittany Besler, MBA, CPA, Esq. will provide borrowers with guidance and clarify some of the most notable PPP Loan issues and answers, including:

  • What are the significant new elements and criteria outlined in the SBA’s PPP loan forgiveness application & instructions?
  • What changed from our original estimates, and what remains unanswered?
  • What are the requirements of backup documentation, and what needs to be submitted with the application?
  • What are strategic approaches that will maximize the opportunity for allowable forgiveness?
  • What are key considerations associated with your prior spending as it relates to reasonableness and forgiveness applicability under the newly designed application?

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About AAFCPAs

AAFCPAs is the premier CPA and consulting firm based in New England and considered an attractive alternative to national CPA firms by discerning clients who appreciate exceptional value. We provide audit, tax, accounting, and advisory solutions to nonprofit organizations, commercial companies, and wealthy individuals/estates. Since 1973, our sincere approach to business and service excellence has built a thriving 220+ member firm driven by an altruistic mission to improve the economic well-being and quality of life for all our constituents. AAFCPAs donates 10% of its net profits annually to nonprofit organizations.

AAFCPAs is an independent member of PrimeGlobal, the fourth largest CPA firm association in the world with 300+ member firms in 80+ countries. This provides our clients with seamless national and global coverage, along with an advantageous pay-as-you-use model.

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