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Parsons CPA PPP Loans Small Business Relief

New PPP Forgiveness Guidance Issued

The U.S. Small Business Administration (SBA) and Treasury issued an interim final rule Monday addressing Paycheck Protection Program (PPP) forgiveness issues related to owner-employee compensation and the eligibility of nonpayroll costs. Specifically, the interim final rule establishes that owner-employees with less than a 5% stake in a C or S corporation are exempted from the PPP owner-employee compensation […]

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Advisory and Business Consulting Parsons CPA Small Business Loans

End of LIBOR: What Small Businesses Need To Know

As 2021 draws near, our business world is getting closer and closer towards the phasing out of LIBOR, an interest- rate reference that has been used in both lending and borrowing contracts since the mid-1980s. As this phasing out occurs, businesses both small and large, financial and nonfinancial, will feel and see the impact of […]

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Parsons CPA PPP Loans Small Business Relief

PPP Loan Forgiveness FAQs

The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans. The FAQs, published in a new 10-page document, are divided into four sections addressing different aspects of the process and calculations PPP borrowers should use to determine how much of their […]