COVID-19 Update May 29, 2020

Seems like it’s been over a year since we started dealing with this Pandemic, but it’s been a little over 2 months since the shutdown.

The good news is businesses are starting to open again. The dire warnings are starting to calm down as we collect and analyze more data about the virus. This is not to say we should drop our guards and loosen up safety precautions. We believe there is a way to balance the need to reopen businesses and stay safe.

Nothing new to report since House Bill 7010 was passed yesterday. It should be interesting to see what happens in the Senate next week.

Last week I sent out a spreadsheet put out by the AICPA, and now there is an updated version for calculating the loan forgiveness.

Additionally, I attended a webinar today, and I thought the CPA firm that put it together did an excellent job explaining the loan forgiveness program in layman’s terms (if there is a way to simplify this).

We are putting on a webinar for our clients next Thursday, June 4, to show the latest technology we’re rolling out to help make more of your HR process paperless. We’ll show you how the new features work. We are always striving to get away from paper if possible.

We will also review the reports we have available that will help you estimate your eligible payroll spend for the PPP loan. Here is the link to register: https://attendee.gotowebinar.com/register/9130249306775377678

Today downloads:

• PPP Loan Forgiveness Application Process – this is the slide presentation mentioned above putting the PPP forgiveness process in a simple, understandable manner.
• PPP Forgiveness Calculator – this is the updated AICPA spreadsheet mentioned above to help you with your PPP forgiveness application.

We hope everyone had a great week and is looking forward to a relaxing weekend.