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PPP Loan Forgiveness Cases and Examples: Choosing Covered Period and Filling Out the Form

PPP LOAN FORGIVENESS CASES AND EXAMPLES CHOOSING COVERED PERIOD/FILLING OUT FORM

Cost $18.75
Presentation Length 1.5 hours

Recorded DateAugust 7, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaFinance
Course LevelBasic
Course Description

PPP loan borrowers face moments of truth:  Which covered period to choose?  The slow throttle 24 weeks or rapid-fire 8?  When can the forgiveness app be filed? When should the forgiveness app be filed? Need you wait 24 weeks to file for forgiveness? What if there’s a drop in employee pay or headcount? How to know when a drop in pay or headcount endangers forgiveness or not?
 
There’s one way to answer all of these daunting PPP questions: via the study of cases and examples. If you plow through the right examples, you’ll get the hang of it. Patterns will emerge and so will your successful navigation through the PPP forgiveness maze. 
 
We’ll guide you through the right moves for forgiveness through examples:


  • Sole proprietor without (or with) employees – How long to wait 

  • General partners with SE income from the partnership – Right moves to make 

  • S and C Corp owners – How exactly to compute compensation for forgiveness

  • Consequences of choosing 24 vs. 8 weeks period

  • Working examples of the drop in salary or wages / Timing of safe harbor

  • Working examples of drop-in headcount (full-time employee equivalents (FTEEs))

  • Application of each of seven drop-in headcount safe harbors

  • Computing average pay and headcount for multiple testing periods

  • Taking the mystery out of “odds and ends” fact patterns

  • How to file your forgiveness app early and put it to rest

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Bradley Burnett

Bradley Burnett Tax Seminars, Ltd.
Tax Attorney, Tax Advisor, Tax Instructor
bradleyburnett10@gmail.com
(720) 936-6003

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Bradley Burnett is a practicing Colorado attorney with 33 years of experience working specifically on tax issues. His practice specializes in tax planning and tax controversy resolution. Mr. Burnett has authored and delivered more than 3,000 presentations on U.S. tax law in the U.S. and international jurisdictions.


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About Our Presenter

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Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 35 CPE courses.