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PPP Loans: $900 Billion Deal on Emergency Relief Package

PPP LOANS: $900 BILLION DEAL ON EMERGENCY RELIEF PACKAGE

Includes updated information on newly passed Congressional relief.
CPE Processing Fee$30.00
Webinar TranscriptionN/A
Presentation Length Hour(s)1.5 hours
CPE Credits 1.5 hours
Subject Area 1.5 - Finance
CE Credits 0.0 hours
Course LevelBasic
Instructional MethodQAS Self-Study
PrerequisitesNone
Advance PreparationNone
Recorded DateDec 31, 2020
Date OfferedJan 04, 2021
Course Description

Congress, in a bipartisan effort, just passed another coronavirus-related relief package on December 21st. The coronavirus-related relief framework includes funding for the following significant items of great interest for advisors and their clients:


  • Deductibility of PPP expenses

  • Expanded PPP expenses

  • Massive funding for the PPP

The best way for accountants to prepare for this significant development is to join Bob Keebler in this exclusive live webinar. He will review all of the critical issues accountants need to master to quickly and competently advise their clients.

Agenda:


  • Identify the total deductibility of expenses satisfied when forgiven PPP funds are provided for in the bill

  • Determine what additional $284B round of forgivable “second-draw” PPP loans are available for small and “hard-hit” businesses

  • Recall the new quarterly revenue rule to qualify for a second PPP loan

  • Identify expanded eligible expenses

  • Determine how to complete simplified forgiveness applications for loans less than $150,000, loans less than $2,000,000, and covered period rules

  • Determine how to increase prior loans because of regulatory changes

  • Name special rules for farmers and ranchers

Self-Study Course Instructions:

FOR DOCUMENT-BASED COURSES

Download the course document(s) (below) and follow prompts contained in the document.



FOR RECORDED COURSES WITH VIDEO

Download any course document(s) (below) which may include handouts, glossary, transcripts, etc. Follow any prompts contained in the documents to help you complete the course. Most documents are searchable.

Play the recording, noting the sectional guides indicating where topics on the agenda are covered and the prompts to pause video playback to respond to a review question (located below the video playback area). The timestamps for review questions are also noted below.

Upon completing the video and successfully answering all review questions, you will then take the final exam.

Learning Objectives

  • Recognize the important parts of the Coronavirus Relief Bill

Not logged
Handout Materials
Presentation Slides
Additional Materials
Glossary and Outline
Webinar FAQs
Review Questions
Review Questions
QUESTION 1: 0:13:30 minutes
QUESTION 2: 0:18:00 minutes
QUESTION 3: 0:26:05 minutes
QUESTION 4: 0:49:50 minutes
QUESTION 5: 1:00:05 minutes
Frequently Asked Questions
  • CPAacademy self-study courses are online.
  • The self-study format allows you to a) access the material online 24/7 and b) study at your own pace.
  • Per NASBA guidelines, you have one year from date of purchase to complete each program.
  • Complete your final exam at any time and get graded instantly. You can retake the exam at no additional charge (unlimited attempts).
  • Print your own certificate of completion on the spot upon passing the exam.
  • Grading policies: a) courses have a minimum passing score 70% b) test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.

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Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP, and the current chairman of the AICPA Advanced Estate Planning Conference. In 2007 he was inducted into the Estate Planning Hall of Fame of the National Association of Estate Planners & Councils. CPA Magazine has also named him one of the top 100 most influential practitioners in the United States and one of the top 40 tax advisors to know during a recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. 

Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and estate, gift, and income tax examinations and appeals. He has received more than 200 favorable private letter rulings, including several key rulings of “first impression.” 

He is the author of over 100 articles and columns and is the editor, author, or co-author of many books and treatises on wealth transfer and taxation. Mr. Keebler has been a speaker at national estate planning and tax seminars for over 20 years, including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference, and the Heckerling Estate Planning Institute.

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CPAacademy.org (Sponsor Id#: 111889) 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: www.nasbaregistry.org.

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About Our Presenter

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At Keebler & Associates, we are nationally recognized tax professionals in family wealth transfer, estates and retirement distribution planning. We provide tax and estate planning to high net worth individuals and families and educate financial, tax and estate professionals on cutting edge tax strategies.