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COVID-19

BREAKING: Critical Update Relating to PPP Forgiveness and Taxable Income

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May 1, 2020 Under the Paycheck Protection Program (PPP) provisions of the CARES Act, borrowers that pay certain covered expenses (payroll costs, benefits, rent, interest, and utilities) with PPP funds may have some or all of the loan forgiven. The CARES Act specifically states that amounts forgiven shall be excluded from the borrower’s taxable income. …

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Recent SBA FAQ’s Raise Questions About PPP Loan Fund Eligibility

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Thursday, April 30, 2020 By Dave Gaino, CPA | COVID-19 Response Team Recent headline news and updated FAQ’s from the SBA have brought the definition of the following statement into serious debate: “Current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” This was the statement that borrowers under …

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UPDATE: SBA to Resume PPP Loan Applications Monday

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The Latest Update from the SBA Friday, April 24, 2020 Dear Clients, Please review the announcement below published tonight by SBA for the Paycheck Protection Program. Contact your engagement team if you have not yet started your application  AGP’s COVID-19 Response Team   Joint Statement by SBA Administrator Jovita Carranza and Treasury Secretary Steven T. …

UPDATE: SBA to Resume PPP Loan Applications Monday Read More »

BREAKING: Paycheck Protection Program and Health Care Enhancements Act Passed by Congress

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Thursday, April 23, 2020 Brewster’s Trillions: Earlier this evening and after much negotiation, Congress passed the Paycheck Protection Program and Health Care Enhancement Act, which the President is expected to sign later tonight. This bill is much simpler than previous COVID -19 legislation. It provides additional funding for the quickly depleted Paycheck Protection Program (PPP) …

BREAKING: Paycheck Protection Program and Health Care Enhancements Act Passed by Congress Read More »

FAQs: Allowable Uses and Forgivable Expenses

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FAQs – Allowable Uses and Forgivable Expenses April 22, 2020 Our COVID-19 Response Team developed the FAQ list below for the Paycheck Protection Program’s (PPP) allowable uses and forgivable expenses, including a grid. DOWNLOAD: FAQs – Allowable Uses and Forgivable Expenses DOWNLOAD: Comparison Chart – Allowable Uses and Forgivable Expenses As always, our COVID-19 Response Team …

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UPDATE: The SBA PPP and Sole Proprietors, Independent Contractors, & Partners

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The SBA PPP and Sole Proprietors, Independent Contractors, and Partners:  Guidance is Here Now April 16, 2020 If you’re one of the above, you’re either sweating through getting that critical SBA Loan # (as funds reportedly are drying up), or you have the money and you’re wondering how the forgiveness aspects relate to you. Welcome to …

UPDATE: The SBA PPP and Sole Proprietors, Independent Contractors, & Partners Read More »

Guidance on the $600 Federal Weekly Benefit and Other Unemployment Benefits

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Recent COVID-19 Legislation – Guidance on the $600 Federal Weekly Benefit and Other Unemployment Benefits Monday, April 13, 2020 COVID-19 Response Team The Act expands eligibility for unemployment benefits by: Expanding the types of workers eligible for unemployment benefits( PUA); including sole proprietors, independent contractors, the self-employed, individuals with limited work histories individuals who have …

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NEXT STEPS: You’ve applied for a PPP loan…your next steps are critical & urgent

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Thursday, April 9, 2020 Your PPP Loan Has Been Applied For…Your Next Steps Are Critical and Urgent Note: If your business has been deemed as Non-Essential under a Shelter In Place Order, the actions prescribed in this article are especially urgent. AGP has been working hard these past few weeks to guide our clients and friends …

NEXT STEPS: You’ve applied for a PPP loan…your next steps are critical & urgent Read More »

FRIDAY: What a Week!

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Friday, April 3, 2020 To our clients and friends – What a week! We appreciate your patience as we worked through the changing SBA guidance to assist with the Paycheck Protection Program (PPP). While not at such a frantic pace, we will continue to make you aware of other important provisions of the legislation. To …

FRIDAY: What a Week! Read More »

**URGENT UPDATE** PPP Application Updated Friday Morning

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Friday, April 3, 2020 **Note – Guidance given in all COVID-19 government assistance programs was provided with the most current information made available to Apple Growth Partners at the time of response. Clarifications and further guidance is being disseminated from government authorities in an ‘on-going’ matter. All guidance should be reaffirmed prior to the submission …

**URGENT UPDATE** PPP Application Updated Friday Morning Read More »