Now that you've received your Paycheck Protection Program loan funds, you need to begin thinking about best practices related to the use of those funds to ensure you are maximizing strategies that will enable you to request and receive loan forgiveness. Stan Reiff, Consulting Practice Lead and Partner at CapinCrouse, the country's largest audit firm for churches and faith-based nonprofits, will offer practical ideas about:
- How to account for the PPP loan funds from Day One
- What kind of documentation you need to keep
- Why you need to employ the help of a professional CPA from the beginning
- What you can expect related to the process surrounding loan forgiveness
If you wait to implement best practices, you could end up having to pay back the entire loan amount instead of benefiting from loan forgiveness.
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