Small business

The Small Business Administration and the Treasury Department unveiled a simpler loan forgiveness application for the Paycheck Protection Program to reflect changes under the PPP Forgiveness Act.

The institute released guidance on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program.

The bill, which passed the House last week on a 417-1 vote, now heads to President Donald Trump’s desk for his signature.

The payroll provider has been partnering with accountants to help them secure loans for their small businesses.

Employment growth at small businesses improved slightly in May, up 0.25 percent, as stay-at-home orders eased in most states, but that was only after reaching historic lows in April, according to payroll giant Paychex.

The House voted Thursday to give small businesses financially strapped by the COVID-19 crisis more flexibility to spend forgivable loans for payrolls and expenses from the government’s popular Paycheck Protection Program.

The SBA’s form clarifies some issues, but still leaves questions to be answered.

Your clients' businesses evolve over time — and the business environment in which they operate changes as well, especially at a time like this.