Reviewing the Paycheck Protection Program of the CARES Act

In this April 2 webinar, Bob Teska reviews and provides highlights of the Paycheck Protection Program (PPP), the broad lending program passed as part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act).

Bob talks about Small Business Administration Assistance, specifically the PPP Loans that are 100% federally guaranteed and available through June 30, 2020. If employers maintain their payroll, the loans can be forgiven.

Highlights from this webinar include:

  • Eligibility Requirements
  • Loan Size and Allowable Uses
  • Eligible and Ineligible Payroll Costs
  • Loan Terms and Requirements
  • Loan Forgiveness
  • General Comments and Observations

Be sure to watch the webinar. In addition to the valuable content presented, area businesses are also given the opportunity to ask our experts questions about the Paycheck Protection Program. For further information or to obtain a copy of the presentation, contact Bowers & Company CPAs.

President Trump signed the “Coronavirus Aid, Relief, and Economic Security Act” (the CARES Act) on the afternoon of March 27, 2020. The CARES Act’s estimated $2+ trillion price tag includes: extraordinary public health spending to confront the COVID-19 pandemic; immediate cash relief for individual citizens; a broad lending program for small business; and, targeted relief for hard-hit industries.

Presenter

  • Bob Teska, CPA, is the Partner-in-Charge of B&C Construction Services at Bowers & Company CPAs. Reach him at 315-234-8157 or rmt@bcpllc.com.

Bowers & Company CPAs aims to offer helpful information to our clients and friends. Learn more about how we can help should your business need accounting services.

Disclaimer: To ensure compliance with requirements imposed by the Department of Treasury, we inform you any U.S. federal tax advice contained in this document or video is not intended for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document.

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