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Gassman crotty den

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Self-Study CPE
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Cpe webinars
PPP Update: Tax, Forgiveness & Transfer Planning, Including for Loans Under $50k


Cost $20.00
CPE Credits 1.0 hour
CE Credits 0.0 hours
Subject Area Finance
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

The SBA issued important guidance on October 2nd which restricts the ability for PPP borrowers and their owners to transfer entity interests and assets.  Also, a new forgiveness application and rules for loans under $50,000, were issued as well as two recent FAQs that provide guidance on PPP loan rules.  From these items of guidance and new restrictions, we will provide practical guidance and important tax and estate planning strategies for LLC's and other entities that have taken PPP loans and have tax, estate planning, and other needs and opportunities in view of the possible changes in the tax law and other circumstances faxed by borrowers and their owners. 

Learning Objectives:

  • Identify what transfers and sales will not require SBA notice or lender approval

  • Recognize when transfers and sales will require Lender notice and escrow, but no SBA approval

  • Identify what to do when the borrower does not have sufficient funds for escrow

  • Identify tax planning with entity ownership transfers, and alternative strategies for estate and estate tax planning

  • Demonstrate how a new version of the application applies to loans under $50,000

  • Recognize how to understand the impact of recent FAQs

  • Identify income tax planning for the question of whether and when expenses incurred for PPP loans that are expected to be deductible will occur

Gassman crotty den

Alan S. Gassman, J.D., LL.M. is a board certified estate planning and trust lawyer who practices in Clearwater, Florida. He has an LL.M. in taxation from the University of Florida, and practices in the areas of trust and estate planning, taxation, wealth preservation, and the representation of physicians and medical practices.

Mr. Gassman speaks at many tax conferences, national programs and national and local webinars, including Bloomberg BNA Tax and Accounting, the Notre Dame Tax and Estate Planning Institute and at many other conferences and webinars.

Gassman crotty den

Brandon Ketron is an associate at the law firm of Gassman, Crotty and Denicola, P.A. and practices in the areas of Estate Planning, Tax, and Corporate and Business Law. Brandon graduated from the University of Florida in May of 2016 where he received his LLM in Taxation. He received his JD from Stetson University College of Law and graduated cum laude. He received his undergraduate degree from Roanoke College where he graduated cum laude with a degree in Business Administration and a concentration in both Accounting and Finance. Brandon is licensed to practice law in the State of Florida and is a licensed CPA in Florida and Virginia.

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Kevin is the managing member partner of C&L Value Advisors, LLC. His primary focus in the firm is working with business owner clients, providing comprehensive accounting, tax preparation and planning, and advisory services. Kevin has presented over 200 programs to individuals and business owners on topics including tax planning, estate and retirement planning, business development, and more.

Frequently Asked Questions
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NASBA Approved (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Presenter

Gassman crotty den

Our firm was formed in 1987 with one lawyer and a shared secretary and receptionist to provide representation to professionals, business owners and retirees in their estate and related tax and personal planning, business and corporate needs.

Since then we have grown to 6 lawyers and over 20 staff, which we have found over the past two decades to be the best size for us. We are very proud of our team, our systems, and our dedication to providing the best and most appropriate legal services for all clients, whether big or small. Our lawyers meet together almost every morning to discuss and work together on cases, strategies and practice improvement projects in order to work the most efficiently and effectively for our clients. We like what we do and enjoy working together.