We’ve rounded up a lot of great information about HR 7010, the newest law to be passed that changes everything about your PPP loan forgiveness. June 30th is the last day to be approved for a PPP loan. No loans will be approved after this date. If you still haven’t applied, you should really do…
Stop filling out your PPP loan forgiveness application. Everything has changed for the PPP forgiveness with the new law, including a new application for forgiveness coming soon. The big news from the SBA today is that the forgiveness percentage is still available if you don’t reach 60% of your PPP loan on Payroll costs. The…
President Trump has signed into law HR 7010 giving employers more flexibility when using Paycheck Protection Program (PPP) funds and applying for loan forgiveness. As of Friday, June 5, 2020, this legislation does not address tax-deductibility of expenses paid witha forgiven PPP loan. Here are a few more questions we hope will be answered in…
As I mentioned yesterday, the situation in the Senate was very fluid. About an hour after I sent my email, the Senate reversed course and approved the bill from the House for the PPP forgiveness relief. Also, below are a couple of articles that explain the new options with the latest legislation. This has been…
This is a replay of the client training held on Thursday, June 4, 2020. In it, we reviewed the latest technology we’re rolling out to help our clients eliminate paperwork and move more HR functions online.
You might not be aware of the potentially detrimental details included in HR7010 (the House bill that passed last week). First, they reduced the PPP loan expenditures dedicated to payroll from a minimum of 75% down to 60%. That sounds good on the outset, but currently, if you don’t hit the 75%, your forgiveness decreases…
For Immediate Release Contact: Mayra Pineda Workforce Heroes Program Placing the COVID-19 Impacted Community Back into Jobs New Orleans, Louisiana: The Hispanic Chamber of Commerce of Louisiana and Delta Administrative Services are pleased to announce they have partnered to launch “Workforce Heroes,” an initiative to recognize and support the community impacted by Covid-19 by…
As of now, there is no word from the Senate on the House proposed changes to the PPP Loan forgiveness Senate Majority Leader McConnell, however, indicated that a vote would be coming very soon. If the Senate does make changes, the bill will need to go back to the House for approval. Assuming the House…
Governor Edwards has announced today that Louisiana is moving to Phase II on Friday, June 5. In the same press conference, Mayor Cantrell issued a statement that New Orleans will remain a little while longer in Phase I until they can confirm that the Memorial Day Holiday is not going to cause another spike in…
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…
