What You Need to Know About The PPP Updates
Join our experts Mark Kohler and Mat Sorensen as they dive into the various ways you can can maximize your PPP loan and avoid major pitfalls.
Originally aired June 11, 2020
Congress recently passed the Paycheck Protection Flexibility Act of 2020 and improved the Paycheck Protection Program (PPP) for small business loans. The bill enhances the PPP by increasing the time small businesses can use funds and receive forgiveness from eight weeks to twenty-four weeks and by reducing the payroll cost rule from 75 percent to 60 percent.
Congress recently passed the Paycheck Protection Flexibility Act of 2020 and improved the Paycheck Protection Program (PPP) for small business loans. The bill enhances the PPP by increasing the time small businesses can use funds and receive forgiveness from eight weeks to twenty-four weeks and by reducing the payroll cost rule from 75 percent to 60 percent.
Join us in this live webinar, as our key experts Mark J. Kohler and Mat Sorensen, nationally respected tax lawyers, take you through the ins and outs of the updated PPP. Mark and Mat will dive into:
- How the new PPP law will benefit most small businesses seeking loan forgiveness.
- Taking advantage forgiveness period being extended from 8 to 24 weeks.
- How the new 60% payroll costs rule (was 75%) will benefit most but will hurt others who don’t plan.
- Determining when you need to bring back your workforce under new rules in order to receive maximum loan forgiveness.
- What you should be planning and doing now so that you can get total forgiveness of your PPP loan.
