Many business owners who took out PPP loans earlier in 2020 are now (or soon will be) in the process of applying to have some or all of their PPP loans forgiven.

It’s important to remember there are two different components to PPP loan forgiveness.  The first, of course, is what you spent the PPP money on, but the second and more complicated factor, is how many people you employed before, during and after COVID impacted your business.  This is where you may end up with a surprise and not get as much of your PPP loan forgiven as you expected, especially if you’re completing the forgiveness application yourself.

There are numerous choices and strategies you can use to maximize PPP loan forgiveness.  Then, as things currently stand, that forgiveness is going to create new tax issues to deal with.  Helping our clients navigate the process to get the best results is just one of the many ways we go beyond traditional tax and accounting services to move their business forward.

Could you use some help to optimize PPP loan forgiveness, improve cash flow, increase profitability, ease operations, or overcome other challenges so your business will not only survive, but thrive?  We would be happy to have a conversation to explore how we might be able to help.  Feel free to contact us to schedule a brief no-obligation phone call or zoom meeting.