PPP Loan Forgiveness – 3 Phases of Documentation

We are here with another PPP update and message.  By now, dealing with the PPP Loan program has become a daily conversation that you are probably ready to bring to an end.  Please do not get discouraged.  We are here to help as you go through the “Covered” period to...

SBA’s April 23 FAQ 31/37 – More Guidance on PPP Loans

In light of some public companies and some other large and/or wealthy organizations (for example, the LA Lakers) receiving PPP loans, the government has expounded on who should have and have not received a PPP Loan.  Under the original CARES Act, the PPP funding was intended to help businesses where...

Tracking Receipt & Disbursements of PPP Loan Funds

Once you have applied and been approved for your Paycheck Protection Program Loan (PPP), your attention needs to be turned towards tracking the receipt and subsequent disbursement of the funds. We recommend establishing a new bank account for these funds. Money Market or Savings accounts will be the quickest and...

Rob Schneider

Director of Audit and Accounting Services   RSchneider@stancilcpa.com   (919) 872-1260   (919) 516-9168 – Direct   Download my vCard.   Link up with me.

2019 Form 1099 Process and Reporting Requirements

2020 is just around the corner!  Let’s work together to make it a good start as we prepare for the 1099 filing deadline of January 31st. If we are preparing your 1099s, it is extremely important that we receive your information early.  We cannot begin processing your 1099’s until we...