Enfield, Conn., July 15, 2020 — Join Farm Credit East for a webinar on Thursday, July 23 from 11 a.m. to 12:30 p.m., that will present a top-to-bottom guide on preparing for Paycheck Protection Program (PPP) loan forgiveness.
Many Northeast businesses and employees have benefitted from loans approved through the PPP and are now focused on achieving maximum forgiveness of the loans. While the forgiveness process has not been finalized, businesses should start preparing so they are ready when lenders start taking forgiveness applications.
This webinar will review the key records and calculations for forgiveness, including:
- Payroll records in your reference period and during the forgiveness period
- Full-time equivalent calculations and how to avoid reduction penalties
- Rate-of-pay calculations
- The taxes that should (and shouldn’t) be included in your payroll expenses
- Eligible, non-payroll expenses and how they should be documented
- Available forgiveness timelines – 24 weeks vs. 8 weeks
Along with this review, consultants Keith Dickinson and Erin Pirro will discuss recent program developments. Agricultural businesses that received a PPP loan are encouraged to attend. Register for this free webinar at FarmCreditEast.com/Webinars.