Episode Five: A Breakdown of the Paycheck Protection Program

CPAs & Advisors

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Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 95 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode five of Everyday Business, host David Jewell, tax partner in Kalamazoo, is joined by two members of our Paycheck Protection Program (PPP) Loan Forgiveness team, Rachel Van Slembrouck, Manager in our Saginaw office, and Zaher Basha, Manager in our Auburn Hills office.

Listen in as David, Rachel, and Zaher unpack the PPP by discussing recent updates as of August 13, 2020, requirements, forgivable expenses, and more. 

  • Overview of the PPP program (2:30)
  • Opportunities for forgiveness (7:20)
  • Recent updates and the PPP Flexibility Act (9:48)
  • Forgivable expenses (11:25)
  • Salary, wages, and FTEs  (20:00)
  • How to apply for forgiveness (24:31)
  • Open questions regarding forgiveness (29:25)
  • Possible future updates from Congress (33:13)

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The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice, or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

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