Paycheck Protection Program Specialty Services

FML's experts can assist you in a myriad of ways to ensure your organization is in the best possible position to utilize the Paycheck Protection Program to its fullest potential

Paycheck Protection Program Specialty Services

If yours is one of the many American small businesses taking advantage of the Paycheck Protection Program (PPP), FML’s experts can assist you in a myriad of ways to ensure your organization is in the best possible position to utilize this program to its fullest potential for your unique circumstances.

What FML Can Do For YouFML will work with you to strategize, plan, and coordinate your application and the use of these funds to maximize your benefit. In many instances, 100% of these loan proceeds may be forgiven if your business meets specific requirements. We can help you set-up and execute loan tracking to ensure your benefit is where it should be. Our offerings include, but are not limited to:

Plan & Strategize Paycheck Protection Program Disbursements

  • Hiring / rehiring and impact on PPP loan forgiveness
  • Eligible rent/utilities/interest
  • Designating funds appropriately
  • Forgiveness calculations / establishing a baseline
  • Understanding and defining ‘full time equivalent employees’ for purposes of the calculations
  • Key timing requirements that will impact PPP loan and forgiveness
  • Interaction with federal / state tax legislation
  • Interaction with other Covid legislation
  • Understanding your obligations as an SBA loan recipient

Continuing Paycheck Protection Program Assistance

  • Coordination of documentation required to support eligible expenses
  • Analysis and reconciliation of payroll/rent/utility/loan documents and reporting
  • Assistance with calculations and support for loan forgiveness
  • Access to expert consultation during eight week measurement period

Post-CARES Act Tax Assistance

  • Employee Retention Payroll Tax Credit
  • Payroll Tax Deferral
  • Net Operating Loss Modifications
  • Sick/FMLA Paid Leave Tax Credit Calculations
  • Business Interest Expense Deduction Limitations
  • Qualified Improvement Property
  • AMT Carryovers
  • Charitable Contributions

Our Paycheck Protection Program Leadership:

Frank Milone, CPA20190709163844

Frank Milone, CPA

Founding Partner, Assurance & Advisory Services
Bill Claffey, Esq.20190707230803

Bill Claffey, Esq.

Partner, Tax Services
Angel Li, CPA20190707221026

Angel Li, CPA

Partner, Tax & Advisory Services
Deb Puorro, CPA20190527150153

Deb Puorro, CPA

Senior Manager, Tax & Advisory Services

Find more on the Paycheck Protection Program here:

Highlights of the SBA PPP Loan Forgiveness Application20200518133457

Highlights of the SBA PPP Loan Forgiveness Application

On May 15th, the Small Business Administration released the PPP Loan Forgiveness Application which will be reviewed by lender...
An important clarification regarding the Paycheck Protection Program20200513130530

An important clarification regarding the Paycheck Protection Program

Many businesses receiving PPP loans have been in the dark recently regarding the SBA’s guidance (or lack thereof) on certain ...
Paycheck Protection Program Section 265: Alert20200503170447

Paycheck Protection Program Section 265: Alert

On April 30, 2020, the IRS issued Notice 2020-32 regarding the deductibility for Federal income tax purposes of cer...

Related Services