Paycheck Protection Program: An Update on Loan Forgiveness Calculation Webinar (2 Hours)

Overview: 

The Paycheck Protection Program (PPP) is a new loan/grant program designed to assist small businesses impacted by COVID-19. Established by the US Small Business Administration, this unique program allows loans to be forgiven, provided the funds are used in the requisite manner. Understanding how to calculate the loan principal that may be forgiven is a crucial aspect of utilizing the PPP. This comprehensive webinar will cover the information needed to understand the loan program, how the loan is forgiven, how it is calculated, the latest updates, and more. You will:

  • Gain an in-depth understanding of the Paycheck Protection Program
  • Explore provisions of how a loan is forgiven, using detailed examples
  • Identify what has changed and what we still don’t know about the program to date
  • Learn how to properly calculate the amount of PPP loan principal that may be forgiven
     
Objective: 

To provide CPAs and other financial professionals with an understanding of the Paycheck Protection Program, to enable them to determine if the program is right for certain situations, to help them anticipate if the loan would be forgiven, and to inform them of how to determine the amount they can have forgiven.
 

Additional New Webinars on COVID-19:

Accounting for Debt Restructuring during Uncertain Financial Times Webinar (2 Hours)

COVID-19: The New Legal Landscape for Employers and Employees Webinar (1.5 Hours)

Cybersecurity in a Business World Impacted by COVID-19 Webinar (1.5 Hours)

Exploring the Long-Term Economic Impact of COVID-19 Webinar (1 Hour)

Financial Leadership during the COVID-19 Crisis: An Expert Panel Discussion Webinar (1 Hour)

Impact of COVID-19 on Complying with SEC Requirements, including ICFR Compliance Webinar (1 Hour)

Impact of COVID-19 on Financial Reporting & Disclosures Webinar (4 Hours)

International Cash & Treasury Management in a COVID-19 Business World Webinar (1.5 Hours)

Lease Modifications: ASC 842 & COVID-19 Impact Webinar (1.5 Hours)

Managing Global Contracting during the COVID-19 Crisis Webinar (1 Hour)

Recent Developments at the FASB & IASB in Response to COVID-19 Webinar (1.5 Hours)

Recent Developments in Transfer Pricing, including the Impact of COVID-19 Webinar (1 Hour)

Sales Tax Strategies during the Economic Disruption of the COVID-19 Outbreak Webinar (2 Hours)

Tax Aspects of the "Coronavirus Aid, Relief & Economic Security (CARES) Act" Webinar (3 Hours)

Emphasis: 
  • PPP program background
  • Eligible loan calculation
  • Forgiveness components
    – 60% use of funds towards payroll
    – Reductions of salary over 25%
    – Full-Time Equivalent comparisons
    – Exceptions to forgiveness calculations
  • Questions that need to be clarified by the Small Business Administration
     
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.00
NASBA Field of Study: 
Finance