VOID: EXPIRED INFORMATION

CARES Act: Paycheck Protection Program (PPP). I spent hours researching this. Finding the exact law. Building graphics,, etc. etc. because I care deeply about my clients, and I am not going to stand for banks making the do things they don't need to do when my clients house (in essence) is on fire and the banks want to require things they don't need, before they hand out the fire hose the government is literally handing them.

Any bank that plays these games I will send my client to another bank, period. I say that as an advocate for my client. Banks do NOT get to lord this over customers. They are already approved upon arrival. Banks are acting as an ATM machine for the PPP loans. Period.

The CARES Act provides for a special “PROGRAM” that banks are just learning about like everyone else BUT no way what banks say they need is right or possible (3/28/20). I walk through the LAW on screen, step by step, section by section with graphics on the video for everyone to follow. I’m not arguing that once the Federal government has logistics in play I won’t pull together whatever the Feds say the banks need, but it CANNOT be much. The PPP is not a normal loan, as it’s possibly fully forgivable and it’s the Feds handing out FIRE HOSES! Banks thinking they need more than what is required because of their standards will lose out because the banks are simply “administrating” the loan. The CARES Act says, the loan is approved right now and the bank has authority to approve it. A bank that adds one extra hurdle to get the loan should planned to left out in the cold on this. Especially by my clients because I’ve got a short list of banks that will ONLY REQUIRE what the Feds are requiring.

For those in New York, Seattle, Miami, Los Angeles or Denver, that want the MEAT in this video because you are trying to get a handle on what the law says, that starts at the 12:00 mark.

To follow along, here is the link to the LAW at the government tracking website.
Followed by the specific sections of the CARES Act I share and put up graphics on.

Interactive Version of Law at THE GOVERNMENTS SITE:
https://www.congress.gov/bill/116th-congress/house-bill/748/text#toc-H165BCD10ED84484EA6114C0F6FF4E663

pdf Version of Law at THE GOVERNMENTS SITE: This is EXACTLY the same as the first link but in pdf format: https://www.congress.gov/116/bills/hr748/BILLS-116hr748enr.pdf

I go over these sections in this law

SECTION 102: PPP

SECTION 1102 F (ii) (I) Bank authority

SECTION 1102 G Borrower Requirements

SECTION 1106 (e) Forgiveness of loan

SECTION 1112 (a) (A) (ii) Excludes 1102

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Thanks for watching! -JJ
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JOSHUA JENSON, CPA
aka JJ THE CPA

Joshua Jenson, CPA has over 27 years of public accounting experience in the area of tax, specializing in LLC, partnership, S corporation, and related individual tax matters. He is managing partner of Jenson & Company, CPAs, P.C., which he founded nearly 23 years ago. His firm is known for a boutique service approach, with a focus on tax planning and strategies with individuals and small businesses.

JJ THE CPA has traveled to over 50 cities in the last 18 months presenting tax courses to thousands of fellow CPAs covering the latest tax laws and strategies.

Joshua is also a licensed insurance professional specializing in life insurance, both permanent and term, as well as disability income insurance. He has own insurance practice, Jenson Insurance.

JJ has authored a book, “JJ THE CPA HERE!” which reveals the top 60 questions from his clients, and his solutions, over his 27 years in practice covering issues related to banking, business structure, insurance and taxes.

Joshua Jenson, CPA is a licensed CPA in Oklahoma and Texas, and a member of the American Institute of CPAs, Oklahoma Society of CPAs. He has his insurance license in Oklahoma. JJ served as the past Chairperson of the OSCPA Educational Foundation, and was named CPA of the year by his CPA peers. Joshua is a 1993 graduate of Abilene Christian University where he earned is accounting degree.

JJ the CPA is heavily represented on social media, with daily postings, including daily videos released on everything dealing with money. #JJTHECPA to find him.

https://www.amazon.com/CPA-HERE-Questions-Insurance-Experience-ebook/dp/B07YTHSRX4

Видео VOID: EXPIRED INFORMATION канала JJ THE CPA