Disclaimer - The information shared during this session was current as of June 19th. Given the ongoing changes, information could change. For the latest information on PPP Forgiveness please visit SBA PPP. For up to date tax law visit www.IRS.gov.
The Payroll Protection Program Flexibility Act was signed into law June 5th to address some of the complicated restrictions in the original law. But do you know what needs to be documented to have your loan forgiven?
This session will advise you on the reports, records and documentation to have ready in order to complete your PPP Forgiveness Application. Hear from featured speaker, Pam Thomsen C.P.A. of Thomsen Training and Consulting, Inc., as she discusses what you need to know when it comes to the new rules and actions you can take regarding your SBA Paycheck Protection Program loan. Retired after 30 years of service from an executive role at Central Lakes College, Pam’s formal training was as a controller and staff accountant. Pam now spends her time training and consulting with small business owners, prospective start-up entrepreneurs and those looking to sell or retire from their businesses. She specializes in loan packing/financing, business planning and cash flow management, all which are vitally important to small business now in light of COVID-19.
- Be in contact with your lender for updates and requirements of the bank for forgiveness
- Do not apply for forgiveness until after 6/30/20 or the end of the term you choose
- Seek assistance from WBA, SBDC, SBA, or your tax professional