Specifically, this course will focus on:

• Review of actual completed forgiveness forms
• Just signed changes brought by the PPP Flexibility Act
• The new 60% rule
• The change from 8 weeks to 24 weeks
• Determining forgiveness for the self-employed and for partners
• How to complete the SBA forgiveness form
• Last-minute ideas to maximize forgiveness
• Building a file in-case of an SBA audit
• Tricky issues, such as related party rent and contributions to profit-sharing plans
• Understanding the new SBA “PPP Forgiveness” regulations and instructions
• Impact of the new Rules under the cash and accrual basis of accounting including the Alternative Payroll Covered Period
• What does “incurred and paid” mean versus “incurred or paid”
• Forgiveness for rent, payroll and interest expense including related party rent
• How to account for pension and profit-sharing plans
• How to determine the amount of the PPP Loan available for forgiveness
• What are “covered expenses”?
• How does the “full-time equivalent” (“FTE”) test work?
• Computing the “salary reduction” test
• Re-hiring employees to avoid the “salary reduction” test
• Understanding the SBA’s “75% payroll” test and the newly pasted 60% payroll test under new law
• Understanding the income tax aspects of the proposed HEROES bill
• Two Actual completed forgiveness forms