We have the resources to
help reach your financial goals.
additional PPP updates
Surprise - more changes to the PPP
PPP Flexibility Act of 2020: 5 Things to Know
Extends Time Period to Use Funds from 8 to 24 weeks
Pushes Back a June 30th Deadline to Rehire Workers to December 31, 2020
Changes Amount of Loan To Be Used for Payroll to 60% Leaving 40% for Non-Payroll Costs – Be careful though this is a Gotcha because you MUST use 60% for payroll otherwise there will be NO FORGIVENESS!
Eases Rehire Requirements
Extends Repayment Term of Loans from 2 to 5 years
Please note that these changes will help borrowers achieve "full forgiveness" which makes it more attractive. If you haven't already applied and received funds, we have at least one banking relationship ready and willing to help both customers and non-customers with their applications. Please reach out for an introduction. Clients whom we provide regular payroll or bookkeeping services, we will be reaching out if you have not yet completed the survey on our website at https://www.connollysteele.com/sba
What is Connolly Steele doing to help our clients?
A reminder that we are here to help and have a full-time CPA on staff as our go-to for all COVID-19 impact matters. We are working hard to keep you informed in this ever changing environment.
Connolly, Steele + Company has kept the needed coordination between
payroll, taxes and accounting well understood and pinpoint predictable.