Ebb Tide: Tax & Compensation Implications Around PPP Loans

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


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?

Lisa SmithPrincipal, Fairfax Associates

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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