Staten Island CPA - Offering Guidance on Small Business PPP Loan Forgiveness

 

Staten Island CPA firm - Goldenthal & Suss Consulting PC

Overview of the COVID -19 Economic Injury Disaster Loan (EIDL) & Paycheck Protection Program (PPP)

The EIDL provides economic relief to small business and nonprofit organizations that are currently experiencing a temporary loss of revenue. 

The PPP loan is an SBA loan that helps businesses keep their workforce employed during the Coronavirus (Covid-19) crisis.

More information regarding the EIDL and PPP loan can be found at sba.gov

We are pleased to offer guidance for small business that are seeking PPP (The Paycheck Protection Program )Loan Forgiveness.  

If you have received a PPP loan and / or have received an EIDL (The Economic Injury Disaster Loan) advance you may be seeking to have your PPP loan forgiven.

Our office can provide assistance regarding your PPP loan forgiveness as well as provide essential tax guidance regarding the tax consequences of both your PPP loan and EIDL advance.  We can provide this accounting services remotely or socially distant.  Our Staten Island based CPA firm can provide a free consultation regarding your PPP Loan forgiveness process as well as assist you or prepare the documents for your PPP loan forgiveness. 

David C Egan, CPA

www.gosucpa.com

718-227-6035

The Paycheck Protection Program (PPP), under the newly legislated Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides small businesses with forgivable loans. Administered through the Small Business Administration (SBA), the PPP loan proceeds are to be expended on payroll, rent, mortgage payments, or utilities. Funding spent on covered expenses qualify for PPP loan forgiveness. The (PPPFA) Paycheck Protection Program Flexibility Act of 2020, enacted June 5, 2020, provides borrowers flexibility in their PPP loan. New options include a 24-week covered period, payroll expenditure requirement reduced to 60%, and, for those loans not forgiven, a repayment plan of 5 years.
For assistance with your PPP loan forgiveness or SBA loan (EIDL) compliance, please call our Staten Island CPA office to arrange for a free consultation.
718-227-6035 ext 301
or visit us at www.gosucpa.com

Staten Island Accountant

Staten Island Accountant

Goldenthal & Suss CPA's & Consultants, P.C.
Partner - David C. Egan, CPA
Staten Island, NY 10312

(p)718-227-6035
(f)718-227-6067

David C. Egan, CPA services Staten Island and the entire NY/NJ metro area.