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SBA Releases New PPP Loan Forgiveness Applications

By Insights

On June 16, 2020 the Small Business Administration (SBA) released a revised PPP Loan Forgiveness Application, unveiled a new simplified version of the application that requires fewer calculations and documentation, and issued new guidance to reflect changes made by the Paycheck Protection Program Flexibility Act of 2020 (PPP Flexibility Act). The applications and guidance clarify what compensation is eligible for loan forgiveness and ease concerns for businesses trying to use PPP loans and have them fully forgiven.

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Trump Signs PPP Flexibility Act, Provides Greater Flexibility to Use Loan Funds

By Insights

On June 3, 2020, the Senate unanimously passed the Paycheck Protection Program Flexibility Act of 2020 (the “PPP Flexibility Act”), which was enacted on June 5, 2020. In a nearly unanimous vote, the House approved the bill on May 28 with only one representative casting a dissenting vote. The bi-partisan legislation makes extensive changes to the Small Business Administration’s Paycheck Protection Program (PPP) by providing employers with more flexibility and time to use PPP funds and still qualify for loan forgiveness.

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Business Insider Features Torie Barry’s Insight on Tax Benefits for Companies that Offer Childcare

By Employee Benefit Plan Audits, News, Professional Services

Business Insider recently spoke with Torie Barry, a partner in Bennett Thrasher’s Tax practice, about ways companies can benefit from providing their employees with childcare options during the coronavirus pandemic. She explained how offering this service is not only a great retention tool as it shows a company is willing to invest in its employees, but it also comes with tax benefits.

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Stephen Klein Shares PPP Insights in Mission Local Article

By News

As businesses are struggling to navigate the SBA Paycheck Protection Program (PPP), Mission Local sought out Stephen Klein, Managing Director of Bennett Thrasher’s Bankruptcy & Restructuring practice, for his insight on the program. While PPP loans are intended to be used to pay employees and other overhead costs during the coronavirus pandemic, business owners are weary about the forgiveness process and how they should navigate repayment versus forgiveness.

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Tim Oberst Joins Thought Leaders to Discuss Strategies to Implement during Uncertain Times

By Events

The Rawls Group recently hosted a webinar featuring experts from Bennett Thrasher, Burr Forman, People 1 and NLP Center of Atlanta who weighed in on effective strategies companies should implement to navigate the current uncertainty related to the coronavirus. Tim Oberst, a Tax Partner at Bennett Thrasher who has been instrumental in navigating the Paycheck Protection Program (PPP) loans and Coronavirus Aid, Relief and Economic Security (CARES) Act, shared his insight and advice for small businesses to consider in the current environment.

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National Bestseller “The Millennial Whisper” Captures BT’s Commitment to Employees and Culture

By News

The Millennial Whisperer, the practical, profit-focused playbook for working with and motivating the world’s largest generation, dives into what it takes to create a workplace environment that attracts, rewards, promotes and maintains millennial employees. Chris Tuff, the Atlanta-based author of the book, highlights Bennett Thrasher’s commitment to this generation and shares how the firm engages all employees.

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