Paycheck Protection Program (PPP) Round 2 Part 1 - Overview of the New Program, FAQ

Payroll Protection Program Loans - Loan Application and Loan Forgiveness. What businesses, organizations, and individuals are eligible for first draw PPP Loans? PPP Loan Applications. How much can be borrowed? How can PPP loans be used? When does borrower have to begin paying principal and interest on PPP loans? How can PPP loans be used by individuals with income from self-employment who file a Form 1040, Schedule C? PPP proceeds cannot be used for lobbying activities or expenditures. What happens if PPP loan funds are misused? What certifications need to be made? Limited safe harbor with respect to certification concerning need for PPP loan request. If a partnership received a PPP loan that did not include any compensation for its partners, the loan amount can be increased to include partner compensation. If a seasonal employer Received a PPP loan before December 27, 2020, the loan amount can be increased based on a revised calculation of the maximum loan amount. Requirements for second draw PPP loans, who is eligible, who Is Not eligible. Maximum loan amount.

Speakers:
William K. Norman, Norman & Zak
LaVonne Lawson, Law Office of LaVonne Lawson
Lawrence R. Johnson, Program Lead Advisor, Small Business Development Center at El Camino College

Category: Tax Law

Program Materials: https://drive.google.com/file/d/1lcYoKYlRFwBLgJIYzS3_piR_OQO1JgKj/view?usp=sharing

The Tax section is sponsored by HOCHMAN SALKIN TOSCHER PEREZ P.C.: https://https://www.taxlitigator.com/

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DISCLAIMER: Speakers' positions are not necessarily those of BHBA. The information in this video is not a legal advice, not a legal counsel, and may not be relevant in various territories and/or jurisdictions. As the laws change often, the information in this video may not be relevant at some point of time. No attorney-client relationship is formed by use of this video. The information in this video is for general purposes only.

Music: https://www.bensound.com

Image by Mohamed Hassan from Pixabay

Видео Paycheck Protection Program (PPP) Round 2 Part 1 - Overview of the New Program, FAQ канала Beverly Hills Bar Association