Update! PPP Loans and Forgiveness: A Cooperative Perspective

Date: Thursday, October 22, 2020
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter(s): Eric Krienert, CPA & Adam Hite, CPA Moss Adams LLP
Objective: Attendees will learn about the economic necessity documentation requirements.
Understanding qualifying and non-qualifying expenses.
Understanding the tax and cooperative considerations regarding PPP forgiveness.
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1 Credit Hour- must answer 3 attendance questions during presentation
Delivery Method: Group Internet-based

No advanced preparation or prerequisites are required for this course.
IMPORTANT NOTE:
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Course Description
This session will provide an overview from a cooperative perspective of loans and forgiveness under the Payroll Protection Program. Beginning with the economic necessity to the qualifying expenses and spending timeframe and FTE limitation. An explanation will be provided on restoring FTEs and wage limitation before looking at the loan forgiveness application process. The session will conclude with a review of tax and other considerations.

Presenter and Moderator Bios
Eric Krienert, CPA has worked in public accounting since 1997. He is experienced in tax planning and consulting for large partnerships and corporations in the food and agriculture industries, but his specialty lies in cooperatives. He provides services related to patronage philosophy and formulating patronage allocation programs based on book, tax, and hybrid programs; equity planning; mergers and acquisitions, joint ventures, and other combinations; non-qualified equities; and domestic manufacturing deduction and taxation.

Adam has been in public accounting since 2006. He provides tax compliance and consulting services to a variety of clients in the wine and agribusiness industries. His clients include wineries, food processors, marketing and supply co-ops, large farming operations, transportation companies, and high net worth individuals. Adam’s primary focus is on business and tax consulting and compliance, and ASC 740 preparation and review. He also has experience advising clients on a variety of areas such as partnership taxation, accounting methods, state tax, and mergers and acquisitions.

Cost
Free for NSAC Members / $56.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.