Ever since the Paycheck Protection Program (PPP) was introduced in the CARES Act last March, borrowers have been navigating a new and unprecedented road to loan forgiveness.
The next curve in the road for PPP borrowers will be reporting this relief on year-end financial statements, according to newly released AICPA guidance.
On October 7, Grassi’s Construction professionals broke down this guidance and explained your options for presenting PPP loan funds on your financial statement. This live webinar covered:
- Available accounting methods for PPP borrowers
- Impact of each accounting method
- Tax implications of your decision and planning strategies to mitigate tax obligation
- Treatment of PPP loans at interim and year-end periods
Accounting for your PPP loan should not be another area of uncertainty facing you at year-end. Get the direction you need from Grassi’s Construction professionals.