Kiplinger

PPP Tips: 6 Things to Discuss with Your Accountant Now

I feel for the owners of small and midsized businesses right now: They are like sailors facing headwinds and choppy waters of a very tough business environment with very little visibility, and the survival of their business at stake.

Many sought a lifeline in the Paycheck Protection Program (PPP) passed under the $2.2 trillion CARES Act earlier this year. But even as these forgivable loans may help keep businesses afloat and workers employed, the rules are in flux and ambiguous. Even specialist financial advisers are steering their clients as though navigating by the stars, rather than by precision GPS.

The banks providing the loans have asked recipients to hold off on submitting forgiveness applications, as even they

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