Consolidated Appropriations Act of 2021 - Congress vs. Pandemic vs. Economy

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Live Webinar | CEU Approved

  • 75 minutes
  • 16 Days Left
     Feb 09, 2021
  •   01:00 PM - 02:15 PM ET
    10:00 AM - 11:15 AM PT

The Paycheck Protection Program (PPP) loan is a type of Small Business Authority (SBA) loan designed to provide funds to help small businesses impacted by COVID-19 keep their workers on the payroll. These loans may be completely forgiven if spent on eligible expenses (mainly payroll) during a specific time period.

Congress approved another $284billion in funding for these loans in the stimulus bill enacted December 27, 2020. Business owners may apply for these starting January 11, 2021.

Join Mark for a review of the PPP flexibility act and its requirements, and what the new funding means for businesses who did or didn’t receive funding in 2020. Among other things we will discuss: 

  1. What kinds of PPP loans will be available 

  2. Who is eligible for the second draw PPP loans 

  3. How to calculate the necessary reduction in revenue in order to qualify.

  4. What types of expenses the proceeds can be used for 

  5. Application and Recordkeeping

  6.  Forgiveness requirements.

Session Highlights:

  • The original PPP Flexibility Act 

  • Who it is meant to help and how 

  • Legislative requirements 

  • Role of the Small Business Authority 

  • The specifics for the third round of funding

  • The three categories of loans available and total funding 

  • Who is eligible for first and second draws 

  • What qualifies as a small business 

  • What you have to show if you drew funding in 2020

  •  The mechanics of applying, spending, recordkeeping, and forgiveness requests 

  • Showing the 25 % reduction in revenue in one calendar quarter 

  • Definition of gross receipts 

  • Funding maximums 

  • What qualifies as payroll expenses 

  • The new, simplified process for forgiveness 

  • Other special case requirements

Why You Should Attend:

After attending this webinar, you will be able to: 

  1. Know if you qualify for a PPP loan 

  2. Apply effectively through your local SBA representative 

  3. Spend and account for the funds in a manner to ensure forgiveness 

  4. What counts as “payroll costs” How much funding you can receive 

  5. Financial Documentation. Conditions for loan forgiveness 

  6. New exemption on re-hiring employees. FTE tests: 

  7. FTE Reduction Exceptions.

Who Should Attend:

  • Payroll Managers and Staff 

  • Accountants and Payroll Processors 

  • Payroll  Tax Managers 

  • Human Resource Managers and Staff 

  • Hiring Managers and Employee Liaisons 

  • Budget Personnel 

Advanced Preparation: None

 Program Level: Intermediate 

Prerequisites: None 

Field of Study: Accounting 

*You may ask your Question directly to our expert during the Q&A session.

 ** You can buy On-Demand and view it at your convenience.

Mark Schwartz

Mark Schwartz

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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This webinar has been approved for 1 HR (General) recertification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute. The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for recertification credit.

Edupliance is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1 PDC for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit

Edupliance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: more information regarding administrative policies such as complaint and refund, please contact our offices at 844- 810-1151. 

PLEASE NOTE: To receive credit through the NASBA for this program you MUST attend the Live program in its entirety and complete the required progress checks. 

Number of CPE Credits Awarded for This Course: 1 (Accounting- 1.0) 

Delivery Method: Group Internet Based

Want to attend in a Group? Call 844-810-1151 and Save upto 50%

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