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Webinar OnDemand: AAFCPAs' Guidance on SBA Loan Forgiveness Application

On Friday, May 15, 2020, the Small Business Administration (SBA) released its long-awaited Paycheck Protection Program (PPP) Loan Forgiveness Application & Instructions.

When the PPP loan program was announced back in March, it left business owners and their advisors with more questions than answers. The application and instructions are not without issues, but they do resolve several calculation and substantive questions that we have been seeking.

In this 1-hour live webinar, members of AAFCPAs Covid-19/CARES Act Task Force Courtney McFarland, CPA, MSA and Brittany Besler, MBA, CPA, Esq. provide borrowers with guidance and clarify some of the most notable PPP Loan issues and answers, including:

  • What are the significant new elements and criteria outlined in the SBA’s PPP loan forgiveness application & instructions?
  • What changed from our original estimates, and what remains unanswered?
  • What are the requirements of backup documentation, and what needs to be submitted with the application?
  • What are strategic approaches that will maximize the opportunity for allowable forgiveness?
  • What are key considerations associated with your prior spending as it relates to reasonableness and forgiveness applicability under the newly designed application?

Watch the Webinar OnDemand

Recorded Thursday, May 21, 2020

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About the Authors

Courtney McFarland
Courtney is an audit partner in the firm’s Healthcare Practice with over 15 years of assurance experience and a comprehensive understanding of the nuances of the healthcare industry. She delivers a full range of solutions solving the challenges that AAFCPAs’ healthcare clients face, including: audits in accordance with Uniform Guidance/Single Audit and Government Auditing Standards, 340B pharmacy program requirements, best practices for reconciliation & analysis of statistical and programmatic data, tracking and monitoring risk-based contracts, maximizing reimbursements, and guidance on healthcare reform. Courtney is a member of AAFCPAs’ Revenue Recognition Task Force, dedicated to helping the firm and clients understand best practices for an efficient and effective implementation of the robust new framework.
Brittany Besler
Brittany possesses a unique combination of tax, legal, and business backgrounds, and is a valuable member of AAFCPAs’ Tax practice. She provides tax planning, research, and compliance solutions for corporations, partnerships, nonprofits, individuals, estates & trusts. Brittany advises businesses and individuals on various federal, state, local and foreign tax-related issues, including counseling clients on the consequences of new and updated tax laws. She assists clients in the creation of appropriate and optimal organizational structures, and advises on tax planning and tax exemption compliance. She advises newly-formed and well-established nonprofit clients on meeting compliance requirements of various government agencies, including the IRS rules on fundraising and political activities.