PPP & The Impact of Forgiveness
For the past six months, businesses have dedicated significant resources adjusting operations due to the impacts of COVID-19. The Paycheck Protection Program (PPP) provided critical assistance to many companies during this challenging time. Today, the PPP forgiveness process remains highly complex as the unintended consequences of forgiveness become clearer.
If your company received a PPP loan, there are risks you need to be aware of including significant tax implications and impact on Federal Acquisition Regulations (FAR) overhead rates. Tax planning has never been as critically important as it is this year.
Join SN as we bring together a panel of PPP and Strategic Tax Advisory experts to provide you with valuable information to make the best forgiveness decisions for your business. These decisions are vital to helping your organization maximize the benefits of the Payroll Protection Program and minimize tax consequences. We’ll also present an update on PPP compliance including any late-breaking news as of October 13 as additional revisions to the program are debated by Congress.
- Understand the impact of forgiveness on tax and FAR.
- Learn tips to minimize the negative impact of forgiveness.
- Receive an update on current PPP legislation and guidance.
About the Presenters
Tom Moul, CPA | Manager, Strategic Tax Advisory Services Group
Tom specializes in customized planning that increases tax efficiency by considering the unique big-picture needs and goals of each client. Working closely with companies, Tom outlines steps to minimize taxes, identify alternatives, and understand tax implications and structure transactions.
Additionally, Tom applies his tax expertise to clients who are conducting or considering conducting international business ventures. His love of sports has given Tom an appreciation for the positive impact of coaching which he applies to his every day work by helping and encouraging others.
Jennifer leads clients through the complex world of federal, state and international taxation of corporations, partnerships and individuals. Additionally, she provides tax research, consultation, and compliance in the areas of accounting methods, international tax, multi-state taxation, tax credits, depreciation, entity selection and structure, and overall strategic tax planning and advisory services. In short, she knows a thing or two about taxes.
A tax specialist with a thing for history and the Civil War, Jennifer brings a unique perspective to her clients and with over 18 years of experience, she has seen just about every tax scenario. Her deep working knowledge of taxation has contributed to the success and profitability of clients in a diverse range of industries.
During his career, Chad has worked with many different types of businesses on a wide range of tax and accounting issues. Beyond the traditional compliance work, he assists clients with tax and general business consulting matters, as well as implementations of new accounting pronouncements. He particularly enjoys opportunities to strategize with clients on how to more efficiently conduct operations, improve cash flow, and minimize tax burdens. The relationship which develops when you partner with clients to identify practice solutions is one of the highlights of his position.
As Director, Steve’s concentration is on assisting clients within the architecture, engineering, construction and real estate development industries to improve internal processes and maximize profitability. Clients also benefit from his extensive experience auditing employee benefit plans ranging from 100 to 5,000 employees. In addition to his technical competence, Steve is an avid Penn State football fan and expert tailgater.