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Omb Form 3245 0407

Omb Form 3245 0407

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hello my name is Kayla Weaver and I'm a CPA at our company CPAs in this video I'm going to go over the loan forgiveness aspect of the Paycheck protection program so if you've received some funds under this program this video could be a great way for you to learn some of the basics of the loan forgiveness as well as see some example calculations learn how to record it in QuickBooks and then what we think will be needed for proving the loan forgiveness amount to your lender so first let's go over the basics of the Paycheck protection program or PPP as I'll refer to it loan forgiveness first we need to know what the coverage period is that's been defined as the eight-week period that will start on the day that your PPP funds are deposited into your bank account so once you get those funds that's day 1 you'll want to calculate what eight weeks out is and that'll be the coverage period that we're looking at forgiveness is based on your actual qualified cost that you have incurred and paid d

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