The SC&H Group presented the HOT Cooler Topic: Will the looming PPP Forgiveness become your Nightmare?
The SC&H group (James Eaton and Brian Kirst) expertly touched on:
Calculating your loan forgiveness, the guidelines to prevent confusion—and phone calls to your bank.
What’s best to track allowable expenses – spreadsheets, technology and your accountant.
Tax time – will there be complications with IRS Code Section 265 and deductions for “otherwise allowable expenses that are allowable to exempt income.”
Who will do and how will the audits be, and how to prepare?
What are the mechanisms to report the data required for forgiveness back to the bank.
Download SC&H presentation here: SC&H Group, Government Contractors and the Paycheck Protection Program, NMTC Water Cooler, 5.14.2020