PPP: Easing the Forgiveness Requirements

Dear clients, The never ending string of updates to the PPP program continues. Thankfully, the most recent threads are welcomed. The SBA recently issued interpretations of the PPP Flexibility Act of 2020. Here’s the distilled version that you should know about: The SBA provided a new simplified forgiveness application (Form 3508EZ) for certain PPP recipients.  You qualify to use this very simple application if (1) you had no employees (that’s for you ICs) or (2) you did not reduce...Read More

PPP Update and Status of Dentists Recovery

As many of you may know, shortly after our last global email, the Senate did in fact pass the new Paychex Protection Program Flexibility Act this past Friday. The president immediately signed it into law. All the provisions of the bill we outlined in our last global email, passed. The bottom-line of this new bill is that you have 24 weeks to use the PPP funds toward eligible costs. There are other provisions that ease the forgiveness requirements, but this is the most important. Considering...Read More

PracticeCFO Update on PPP: House Passes Bill Easing Forgiveness Requirements

Dear client, We’re happy to say that virtually 100% of clients that requested us to apply for their PPP, received the funds. They are now using these funds to operate the reopening of their practice. I’m proud of our team here at PracticeCFO and the way they mobilized to get the PPP money into your accounts. If you’ve been happy with how we’ve served you during this period or before, we would be exceptionally grateful if you would give your CFO advisor a quick online review with a few...Read More
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