Navigating the Complexities of PPP

Our team of advisors are monitoring all PPP legislation and are prepared to fully support you as you navigate the opportunities and complexities during this time.

Video: Understanding the ERC Credit–Director of Sales, Lee Roberts gives an overview of the ERC credit and why your business should consider applying if you haven’t already.

On-demand webinar: Understanding the American Rescue Plan Act of 2021 — Learn more about the recent COVID-19 legislation and how it may impact your tax planning.

On-demand webinar: Navigating the New Bipartisan COVID-19 Relief Bill and Your PPP Forgiveness–Click here to watch.

PPP Loan Forgiveness Calculator: Download the loan forgiveness calculator to understand what is allowed under the current guidance and interpretations of the CARES Act. Download Here.

Connect with a BerganKDV advisor for customized assistance in preparing for and maximizing your PPP2 loan application and forgiveness.

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Cash Flow Analysis

Disruption here will push every business to analyze cash situations and project business based on the unique impact COVID-19 has had.

Things to Consider

What your likely revenue reduction will be
What likely reduction in gross margin dollars will be
How much cash you have on hand

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Budget Reforecasting

Reforecasting during this time of uncertainty will be vital to planning for emergence.

Things to Consider

Forecast the impact of multiple scenarios
Keep your original budget to report against
Understand the drivers and KPI’s that matter

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PEACE OF MIND

Outsourcing some or all of your financial tasks allows you to keep your focus where it really matters.

Whether it is a short term solution to solve the problems of today, or a long term solution to see your business through future growth.

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COVID-19 ADVISORY

Payroll Package

PAYROLL PACKAGE DETAILS

The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave and expanded family and medical leave for specified reasons related to COVID-19. These provisions will apply from April 1, 2020 through December 31, 2020.

As a result, we’ve created an overview of both the Employee Retention Credit and the Payroll Tax Deferral and some important reminders you may find beneficial as well as ways our team can help navigate this legislation.

*Note: These details could change as additional legislative is released. Please check back often to view the current program and details.

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Relief Package

RELIEF PACKAGE DETAILS

COVID-19 has brought an onset of uncertainty and course changes necessary for businesses of all sizes to navigate this pandemic. Our COVID-19 Relief package gives businesses expert assistance during this time of need.

Budgeting
Cash Flow Analysis and Projections
Legislative Consulting
Grant Research and Recommendations

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Main Street Lending Package

MAIN STREET LENDING PACKAGE DETAILS

The Main Street New Loan Facility (“Facility”), which has been authorized under section 13(3) of the Federal Reserve Act, is intended to facilitate lending to small and medium-sized businesses by Eligible Lenders.

Eligible banks may originate new Main Street Loans or use Main Street Loans to increase the size of existing loans to businesses

If you’ve applied and receive a PPP loan, you may also take out Main Street Loans

*Note: These details could change as additional legislative is released. Please check back often to view the current program and details.

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RECENT BUSINESS TAX DEVELOPMENT

Taxpayers that received a PPP loan may now be retroactively eligible for the 2020 Employee Retention Credit (ERC) or prospectively eligible for the 2021 ERC.