June 2, 2020 •HoganTaylor
UPDATE: On June 5, 2020 the president signed into law the Paycheck Protection Flexibility Act (Flex Act). The Flex Act makes significant changes to the Paycheck Protection Program (PPP), giving borrowers more time to use the funds received, more time to repay amounts not forgiven, and lower limits on how the funds are required to be spent.
Click here to read our summary of the key points of the Flex Act.
Join us for Part V of “Maximizing Forgiveness,” the fifth in a 5-part series of webinars to address five key areas of the Loan Forgiveness Application and Instructions (LFA) under the Paycheck Protection Program (PPP).
Part V of our “Maximizing Forgiveness” webinar series takes a closer look at non-payroll costs and how to calculate them within the PPP loan forgiveness process.
In this program we’ll cover the following objectives:
- Define non-payroll Costs eligible for loan forgiveness
- Review the Covered Period
- Review calculation of paid and incurred non-payroll costs
- Documentation required for submission vs. to be maintained
The presenter for this half hour webinar is Aaron Ackerman, HoganTaylor Advisory Partner.
About the "Maximizing Forgiveness" Webinar Series
Each program in our "Maximizing Forgiveness" webinar series addresses a major area of the PPP Loan Forgiveness process. By dividing the subject matter into separate sessions, we will be able cover each area in appropriate detail, allow attendees to attend those sessions of most interest to them, and limit the content of each session to a digestible amount of information.
Below is a list of upcoming sessions and its projected air date:
- PART I: Overview of the PPP Loan Forgiveness Process - On Demand (Originally Aired May 27, 2020)
- PART II: Calculating Full Time Equivalency - On Demand (Originally Aired May 28, 2020)
- PART III: Calculating Salary / Hourly Wage Reduction – On Demand (Originally Aired May 29, 2020)
- PART IV: Calculating Total Payroll Costs Incurred/Paid - On Demand (Originally Aired June 2, 2020)
More information about the additional programs in this series will be publicized as it becomes available. To receive invitations to these programs via email, please subscribe to our COVID-19 thought leadership.
How HoganTaylor Can Help
HoganTaylor has assembled a team to monitor developments in financial assistance available to businesses hurt by the COVID-19 pandemic. We have been working to understand the legislation and guidance being issued to support the various programs available to affected businesses so that we can provide relevant and timely advice to our clients. As information becomes available, we will continue to recommend specific actions to take to effectively access these programs.
If you need assistance in evaluating your company’s PPP loan certifications or in drafting documentation to support the evaluation and conclusions surrounding your certifications, please contact a HoganTaylor advisor at SBALoans@hogantaylor.com.
INFORMATIONAL PURPOSE ONLY. This content is for informational purposes only. This content does not constitute professional advice and should not be relied upon by you or any third party, including to operate or promote your business, secure financing or capital in any form, obtain any regulatory or governmental approvals, or otherwise be used in connection with procuring services or other benefits from any entity. Before making any decision or taking any action, you should consult with professional advisors.
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