The Northern Kentucky Chamber of Commerce (NKY Chamber) will host a virtual Q&A on Dec. 9 from 1 p.m. until 1:30 p.m., featuring CPAs Rick Woods and Diane Kilner from MCM CPAs & Advisors, to discuss the recent IRS reiteration.
The latest guidance states that Paycheck Protection Program (PPP) funded expenses are nondeductible for borrowers who received PPP loan forgiveness.
Woods is a partner in MCM CPAs & Advisors’ Tax Services Department and leads the Federal Tax Group. His practice focus is providing business and individual tax planning and compliance to closely-held businesses and their owners.
Kilner oversees the Small Business Services Team at MCM, and will share her expertise in providing accounting, tax, consulting, and planning services to small and medium-sized privately held businesses, as well as to individuals.
Attendees can expect to leave this webinar with a better understanding of how to handle tax planning surrounding PPP loans in this uncertain environment. Questions for this Q&A will be taken from audience members and the event will focus on the ramifications that small businesses may face from the recent IRS guidance.
“If you’re a small business owner that received a PPP loan, it’s imperative that you attend this event to get a better understanding of this new policy from the IRS and the tax setbacks that may arise as you begin tax planning,” said Kristin Baldwin, Vice President of Public Affairs and Communications of the NKY Chamber. “We are encouraging attendees to reach out to our federal delegation to demand a legislative fix to this unfriendly IRS ruling, which defies Congressional intent.”
The event is free to all current and future Northern Kentucky Chamber members; advance registration, however, is required. To register for the event or for more information, visit www.NKYChamber.com/events.