GJM/EA COVID-19 Stimulus Webinar Recording
Congress reached a deal on a new $900 billion stimulus package just days before Christmas. The president has now signed it and stimulus checks are on their way to many Americans.
The deal comes as the pandemic surges from coast to coast, and after several months of no additional financial help from the government for struggling Americans and their businesses.
A key component of the law, and very welcome news for businesses, is the word that taxpayers will be allowed to deduct costs covered by their Paycheck Protection Program (PPP) loans. The resolution on PPP loan expenses & tax deductibility will ease some frustrations for businesses in the middle of year-end tax planning.
The stimulus package also provides more funding for a new round of PPP loans, stimulus checks for most Americans, and an extension of federal unemployment benefits, among other provisions.
GJM’s Bob Bobek, CPA co-presented a webinar in partnership with the Employers’ Association’s Bob Bethel, SPHR, SHRM-SCP on December 28. They took a closer look at what’s in the stimulus package and what it means for your family and your business. Bob Bobek also covered the latest guidance from the Small Business Administration (SBA) regarding the forgiveness questionnaire for existing Paycheck Protection loans at or over $2 million.
If you were unable to attend the webinar, you now have access to the recording. You can also access other resources in the GJM COVID-19 Resource Center.
As always, you're encouraged to reach out to your GJM team with any concerns or questions.
Established in 1996, Gilmore Jasion Mahler, LTD (GJM) is the largest public accounting firm in Northwest Ohio, with offices in Maumee and Findlay. Locally owned, GJM offers cloud-based accounting and provides comprehensive services including assurance, business advisory, tax, risk advisory, healthcare management and outsourced accounting. The Firm’s professionals specialize in industries including construction & real estate, healthcare, manufacturing & distribution and utilities.
