Skip to content

CATEGORIES

SME CPA BLOG

Main Street Lending Program

It is an understatement to say that businesses and individuals all over the world have been affected by Covid-19. This has caused considerable financial stress on many businesses forcing them to seek creative ways to stay afloat during this volatile time. Small to medium-sized businesses are a crucial part of our economy and are responsible…
Read More

SME CPA Promotions

Join us in congratulating our employees that received a promotion. They all deserve and earned it. SME CPAs would not be where we are today without our team.
Read More

Revised PPP loan forgiveness applications released.

The U.S. Small Business Administration (SBA), along with Treasury, released Wednesday, June 17th, 2020, a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application for forgiveness of PPP loans. Revised PPP Loan Forgiveness Application (https://content.sba.gov/sites/default/files/2020-06/PPP%20Loan%20Forgiveness%20Application%20%28Revised%206.16.2020%29.pdf)and instructions (https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Instructions_1.pdf) EZ PPP Loan Forgiveness Application (https://content.sba.gov/sites/default/files/2020-06/PPP%20Forgiveness%20Application%203508EZ%20%28%20Revised%2006.16.2020%29.pdf)and instructions (https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Form-EZ-Instructions.pdf) The…
Read More

PPP Flexibility Act UPDATE

The Senate unanimously passed H.R.7010, the Paycheck Protection Program Flexibility Act of 2020, and the President immediately signed it into law.   This new Act allows more flexibility for borrowers taking advantage of PPP funds.  It basically extends the time period for businesses to use the funds and changes the ratio for payroll to other fixed…
Read More

PPP Forgiveness Application

On May 15th the U.S. Small Business Administration (SBA) released the link to the “Paycheck Protection Program Loan Forgiveness Application,” which contains information on PPP Loan forgiveness along with instructions for completing the application form. The SBA said its form and instructions are designed to reduce compliance burdens and simplify the process for borrowers.  The form…
Read More

5 things you should do once you receive your PPP loan.

1. Only Use Money From The Loan on Forgivable Expenses You must track what you spend this money on in order to be able to apply for forgiveness. Recipients must not lose sight of the legal restrictions on the use of these fund. The SBA issued a Rule that requires PPP applicants to certify funds…
Read More

Contact Us

Have a question or want to discuss your specific need? Contact Us or submit your inquiry using the form below.