On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021.
It allots $284 billion to a second round of stimulus PPP funding, granting business owners another opportunity to receive COVID relief in the form of forgivable loans. As government mandates continue to keep many businesses shuttered or under strict regulations, this second chance for a PPP loan can help keep your business on track in the new year, regardless of whether or not you participated in the first round.
If you’re ready to apply for your PPP, we are ready to accept your application now. The banks will likely begin processing in the first part of January, so we recommend getting all of your paperwork submitted to us now so that it can be included with the first batch of applications. As with last time, we are working with a bank that gets approvals within 24 hours. If we do your application, we guarantee you will be approved.
If your business received a PPP loan, we can set your mind at ease and assist you with navigating the forgiveness process. We have done a great many of these for a variety of clients in a wide range of industries, and we will ensure proper governance based on your individual needs.
To optimize your forgiveness, we take into consideration factors such as: eligible payroll and non-payroll costs, optimization and calculation of full-time equivalent employees (FTEs), salary computations, rehire exemptions, required documentation, as well as any other items that may relate to your particular forgiveness calculation.
Acting in accordance with the American Institute of Certified Public Accountants (AICPA) guidelines, we will ensure proper governance and can offer you and your investors peace of mind and a real sense of security over the process. You can have confidence that the complex PPP forgiveness calculations have been done correctly, and with the right methods, for your particular needs.
Interested in a PPP, but have questions? Schedule a 10-minute call where we can walk you through the process and determine your eligibility. Please make sure to have a copy of your 2019 tax return handy.