DSM Forward Ask the PPP Experts Webinar
The Greater Des Moines Partnership DSM Forward webinar series offers insight on moving the Greater Des Moines (DSM) region forward in the aftermath of the COVID-19 pandemic. As plans are made and businesses reopen, The Partnership has put together resources for employers at DSMpartnership.com/DSMForward.
The Ask the PPP Experts webinar welcomed guest speakers Dave Hove, senior tax partner at LWBJ, and Michael Trettin, director of audit services at LWBJ, to provide information on the guidance from the Small Business Association (SBA).
PPP Loan Forgiveness
Michael discusses the PPP Loan Forgiveness Application and how loan forgiveness will work as more guidance from the SBA is expected. He says the application accomplishes the intent of the PPP loans by evaluating payroll costs, capturing FTE reductions and more. Components of the application include: the loan application, a schedule A form and a supporting schedule A worksheet.
Dave and Michael offer extensive feedback on specific questions regarding the PPP, including vehicle loan deductions, returning unused portions of the loans, alternate 8-week payroll rules and more. See the U.S. Chamber Guide to PPP Loan Forgiveness here.
See the entire webinar below:
LWBJ offers more information and COVID-19 resources here.
You can count on The Partnership to continue to share accurate and fact-based updates as well. See more on COVID-19 here.