PPP Loan Update

Date: Wednesday, May 19, 2021
Time: 02:00 PM ET / 01:00 PM CT / 12:00 PM MT / 11:00 AM PT [Prevailing Time]
Presenter(s): Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen and David Antoni, CPA, Tax Managing Director, KPMG LLP
Moderator(s): Bill Erlenbush, CPA, NSAC Director of Education
Learning Objectives:
The goal is for participants to learn about 2nd draw loans and PPP loan forgiveness, the impact of PPP loan forgiveness on co-ops, and to receive relevant updates about the Paycheck Protection Program.
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
  Order Recording

Course Description

The Small Business Administration’s Paycheck Protection Program (PPP) has been an important source of support during the COVID-19 pandemic. This 60-minute zoom will feature discussion on 2nd draw loans, loan forgiveness, and updates on the PPP from the perspective of the cooperative community, including patronage considerations. The goal is for participants to learn about 2nd draw loans and PPP loan forgiveness, the impact of PPP loan forgiveness on co-ops, and to receive relevant updates about the Paycheck Protection Program.

Presenter and Moderator Bios
Rebecca Thoune, CPA, Signing Director, CliftonLarsonAllen
Rebecca Thoune (Smith), Signing Director, with CliftonLarsonAllen specializes in tax consulting and compliance for cooperatives and the agribusiness industry with a focus on federal and state strategic tax planning, maximizing cooperative and member benefits, startups and mergers, and representation before the IRS and other state taxing authorities. Rebecca is a member of the National Council of Farmer Cooperatives LTA committee, National Tax Committee Chair of the National Society of Accountants for Cooperatives (NSAC), and Past President and Board Member of the NSAC Great Lakes Chapter.

David Antoni, CPA, Tax Managing Director, KPMG LLP
David F. Antoni, Managing Director, Tax, KPMG LLP, serves as National Director of Cooperative Tax Services. Dave is responsible for providing tax consulting and compliance services to cooperatives and non-cooperative enterprises in our Consumer & Industrial Markets practice. Dave works with management and boards on tax considerations for capital and bylaws provisions and advises cooperatives on tax issues such as IRC section 199, application of new Tax Reform legislation and tax accounting methods. Dave’s professional accounting experience with KPMG spans over 32 years and 28 years serving cooperatives as a focus area. Dave holds a Bachelor of Science degree in Business Administration (cum laude) from La Salle University, Philadelphia, Pennsylvania, where he concentrated in Accounting and Computer Science and was a member of the Beta Alpha Accounting Society. Dave also has completed several graduate-level tax courses in Villanova University School of Law’s Master of Science in Taxation program. Dave is currently on the national board of the National Society of Accountants for Cooperatives (NSAC) and served as immediate past Chair of its National Tax Committee. He is also a member of the Legal, Tax and Accounting Committee of the National Council of Farmer Cooperatives, serving as current Chair of its Executive Committee and serves as Vice-Chair of the Subcommittee on Overview of New Tax, Other Legislation and Implementation Issues Affecting Farmer Cooperatives, and is a member of the American Institutes of Certified Public Accountants. Dave is a frequent speaker concerning tax issues related to cooperatives at annual meetings of the NSAC and contributes articles to the Tax Fax Column of NSAC’s The Cooperative Accountant publication. Dave author’s KPMG’s Tax News Flash – Cooperatives publication and hosts and facilitates discussions on cooperative tax topics at KPMG’s Annual Cooperative Roundtable.

Moderator: Bill Erlenbush, CPA, NSAC Director of Education
Bill Erlenbush spent his entire career working in cooperative accounting at GROWMARK. His work experience includes all aspects of order control and billing, accounts receivable/payable, financial accounting, and tax. As compliance officer, he had responsibility for the administration of the compliance and ethics program at GROWMARK and its subsidiaries and retail divisions. In addition, he was been involved in negotiating major acquisitions for GROWMARK. His educational background includes a Bachelor of Science degree in Accountancy from the University of Illinois and an MBA from Illinois State University. He is a Certified Public Accountant. Bill is an active member in many industry, professional, and community organizations. He is past president of the Mclean County United Way Board of Directors as well as the past president of the Heartland Community College Foundation Board of Directors.

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.