PPP Loan: Questions Answered (Part I)
PPP Loan: Questions Answered (Part I) On May 19, 2020, we held a webinar on loan forgiveness under the Paycheck Protection Program (PPP). With more than 800 attendees, there were…
PPP Loan Forgivable for Farmers in 2nd Round
Friend of Tax School Larry Gray, CPA, is back again as a guest blogger this week. He has a video sharing exciting Paycheck Protection Program (PPP) round 2 news for farmers and ranchers.
Even if a farmer or rancher didn’t qualify for PPP round 1 last year, they most likely will this year for round 2 under the Consolidated Appropriations Act. The big change this year: even if a farmer or rancher had a farm loss, they will most likely qualify for up to $20,833. In this video, Larry explains the new provision and looks at the Schedule F to walk through how this qualification works.
Videos created by Larry Gray, CPA of AGC Solutions
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