FAQs Regarding PPP Forgiveness Deductions

Read time: less than 10 minutes Do not factor the loss of deductions under PPP Forgiveness. This factoring determining your quarter 3 estimates for tax payments should not include these specific deductions. Because the PPP is new to everyone this year, there is much confusion and many questions geared around the Program in attempt to… Read more »

Changes have been made to the PPP loan — Here’s what you need to know.

Things just got switched up for small businesses, but it seems to be leaning in business owners’ favor. This month, the Paycheck Protection Plan Flexibility Act (PPPFA) was officially signed into law. These updates can make a major impact on any small business that happened to get hit hard during this year’s pandemic. CTBK wants… Read more »

Understanding the PPP Loan Forgiveness Application

The U.S. Small Business Administration (“SBA”) recently released the Paycheck Protection Program (“PPP”) Loan Forgiveness Application along, with detailed instructions, which can be found on SBA’s website as well as on the U.S. Department of Treasury’s website. The application contains the following components: PPP Loan Forgiveness Calculation Form; PPP Schedule A; PPP Schedule A Worksheet;… Read more »