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
Director, Tax & Advisory Services
Find more on the Paycheck Protection Program here:
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