Ebb Tide: Tax & Compensation Implications Around PPP Loans

Topics: Law Firms, On-Demand Webinars, Tax, Tax & Accounting Firms

PPP

In 2020, many professional services firms applied for and received loans from the Paycheck Protection Program (PPP), courtesy of the United States Small Business Administration. Viewed as a key business lifeline at the time, the recent passage of the Consolidated Appropriations Act, 2021 – replete with a second round of Paycheck Protection forgivable loans – holds significant ramifications for pass-through entities like law firms as they commence with year-end preparations and look forward to a new year. This timely conversation offers critical guidance for business leaders tasked with navigating uncanny shores. What considerations should leaders embrace over the weeks and months ahead?

Moderator:
Lisa SmithPrincipal, Fairfax Associates

Panelists:
Carolyn Furina, Tax Director, Law Firm Services Practice, PricewaterhouseCoopers, LLP
Jordan HowletteTrial Attorney,  U.S. Department of Justice, Tax Division
Damien MartinPartner, BKD, LLP

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