If you applied for and received a PPP loan this year during the COVID-19 pandemic, many of you are probably wondering what to do now. It may be the end of the tax year for some and there is uncertainty about applying for loan forgiveness and the tax implications. On top of that, questions arise regarding changes and effects on overhead calculations for long-term projects and proposals.
This short, informative webinar is presented by Ben Brown a Partner at BFBA in Sacramento. The presentation will be a discussion of ideas and suggestions to simplify the application process and prepare for the income tax implications of forgiveness. We will then open the forum to questions for the remainder of the hour.
Distributors may purchase multiple copies of packages to distribute to learners, and follow their progress. Bulk discounts are below.
| Quantity | Price per voucher |
|---|---|
| 1+ | $0.00 |
Question on Owner/Employee 5% rule:
The rule as published by the SBA is that owner-employees with “less than a 5 percent ownership stake in a C- or S-Corporation are not subject to the owner-employee compensation rule.”
This means that a 5% owner would still be subject to the owner-employee limits. Additionally, the fact that it explicitly identifies only C- and S-corps but not LLCs, Partnerships, or LLPs, would also imply that entities organized under other structures do not get the benefit of this rule.