Event Calendar

Thursday, September 24, 2020

Webinar: PPP Loan Forgiveness Process Strategy

Start Date: 9/24/2020 8:00 AM CDT
End Date: 9/24/2020 8:45 AM CDT

Venue Name: Webinar

IL  United States 

Organization Name: Technology and Manufacturing Association

Cori D'Onofrio
Email: cdonofrio@tmaillinois.org
Phone: (224) 723-9905

Cost: FREE

Please click HERE to register for this webinar.

During this webinar we will identify the vital elements needed to maximize your loan forgiveness and understand what liability may exist with your PPP loan. We will walk through practical hands on examples of what you will need to do to guide compliance for pursuing forgiveness.

Maximizing Forgiveness. Do not submit your forgiveness and unexpectedly need to return a portion of the funding. Identify how to validate that you followed the spend rules and properly documented your forgiveness. As of today, every lending institution will run their own forgiveness process. Some will be online using a short form and others will require more extensive support.

PPP Tax Liability. No one is talking about the tax liability. Unless the rules change, the expenditures made with your PPP loan funds are non-deductible. It will be taxed like regular income. A $250,000 loan with a 25% tax rate (your rate will vary) creates a $62,500 tax. We will walk you through how to forecast your year-end tax liability with the PPP tax factor and suggest ways to create cash flow reports to close off the 2020 business year. 

Thank you to our host: