The CARES Act’s Paycheck Protection Program offers small employers, including churches, the opportunity to secure forgivable loans over an eight-week period to help cover payroll and other operational expenses while weathering the economic fallout of the COVID-19 pandemic.
Many congregations received the loans. What they do next is critical.
In this webinar with CPA and tax attorney Ted Batson, a Church Law & Tax advisor at large, church leaders will receive guidance on the types of expenses they can cover with PPP loan proceeds. They will also get a step-by-step tutorial on how to navigate the loan forgiveness process when their eight-week periods expire so that they ensure as much of their loan becomes a nontaxable grant as possible.
Download the presentation slides here.
To stay updated on the latest COVID-19 news and advice from Church Law & Tax, visit: www.ChurchLawAndTax.com/Coronavirus.