COVID-19 Accounting: PPP, EIDL, Payroll Tax Credits and Deferrals

COVID-19 Accounting: PPP, EIDL, Payroll Tax SOLUTIONS BEYOND THE OBVIOUS Credits and Deferrals

June 24,PRESENTED BY2020 TRONCONI SEGARRA & ASSOCIATES LLP Notices

This publication has been prepared for general guidance on matters of interest only; it does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy of completeness of the information contained in this publication; and, to the extent permitted by law, Tronconi Segarra & Associates LLP, its members, employees and agents do not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this website or for any decision based on it.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Today’s Presenters

Debbie Chrzanowski, CPA Anne Marie Niedzialowski Charles P. Pezzino, CPA Senior General Ledge Specialist Senior General Ledger Specialist Partner [email protected] [email protected] [email protected]

Diane M. Straka, CPA Daniel A. Spada, CPA Partner Principal [email protected] [email protected]

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Agenda

• Accounting for COVID-19 Relief Programs  Paycheck Protection Program  Economic Industry Disaster Loan  Employer Tax Credits  Payroll Tax Deferral • Reporting from your Payroll Service Provider • Q&A Session

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Paycheck Protection Program & Economic Injury Disaster Loans

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Maximizing Payroll Protection Program Loan Forgiveness for Your Company • Spending funds on Forgivable Expenses • Accounting for Funds and Tracking Spending

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Spending Funds on Forgivable Expenses • Minimum 60% of the total funds on Payroll costs • Salaries and Wages • Vacation Pay • Sick, Parental and Family Leave • Medical Benefits • Employer Retirement contributions • State tax payroll obligations • No more than 40% of the total funds Other Qualifying Expenses • Mortgage Interest • Rent Forgivable Expenses • Utilities Other Qualifying Costs Payroll Costs 40% 60%

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending 6-Step Process for Maximizing PPP Loan Forgiveness 1. Record the Funds deposited as a loan on your books 2. Record qualified expenses in the “Covered Period” (8-24 weeks) 3. Upon completion of “Covered Period”- summarize expenditures and gather supporting documentation 4. Apply for forgiveness through your lender 5. Record Forgiveness once awarded 6. Any amount received in which forgiveness was not granted remains a loan

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 1.) Record the Funds deposited as a loan on your books Set up NEW General Ledger Accounts: • PPP Loan Payable – Long Term Liability • EIDL Grant Received – Other Income • EIDL Loan Payable – Long Term Liability • PPP Funds Forgiven – Other Income

Deposit Entry: PPP EIDL Grant EIDL Loan Date Date funds are Date funds are Date funds are deposited deposited deposited From Bank/Lender SBA EIDL SBA EIDL Accounts PPP Loan Payable EIDL Grant Received EIDL Loan Payable Example $60,000 $2,000 amount

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 2.) Record qualified expenses in the “Covered Period” (8-24 weeks)

Date paid: Date • Must be in Covered Period 5/15/20 Debit Credit

Qualified • Payroll Expense Account • Other – Rent, Interest, Utilities Utility: Gas $800.00

• Matches supporting Amount Documentation Cash $800.00

PPP - Gas charges for main building 5/1- • What the funds were spent for Purpose PPP 5/31/20

The PPP loan balance is not reduced for the expenses incurred

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 2.) Record qualified expenses in the “Covered Period” (8-24 weeks)

Expense Accounts: • Identify expense accounts to be used • Create new accounts if necessary • Be consistent • Keep a list for reference

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Covered Period

Customized Report: • Date: Covered Period Only • Funds received 5/1/20 • 8 Weeks 6/26/20 • Cash Basis • Choose Expense accounts used to post Qualified Expenses Only

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Covered Period

Mortgage interest account only

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Expense tracking using Classes in QuickBooks

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 3.) Upon completion of “Covered Period”- summarize expenditures and gather supporting documentation • Use financial reports reports to gather supporting receipts – Use as a checklist for documentation • Throughout the covered period – scan and save documents • QuickBooks – Attachment feature • Payroll Reports and documentation not only for financial • Employee Headcount • Comparative Wages

• Bank Statements • Lease agreement / Rent payments • Cancelled Checks • Utility Bills • Payroll reports and Payroll tax filings • EIDL Grant Documentation • Health Insurance account statements • Proof these expenses were established • Mortgage Statements prior to February 15, 2020

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 4.) Apply for forgiveness through your lender • The PPP Loan Forgiveness application was revised and rereleased by SBA June 16, 2020. • SBA also released a PPP Loan Forgiveness Application Form EZ • The Tronconi Segarra & Associates COVID-19 Response Team can alleviate your workload, provide necessary expertise to maximize forgiveness and assist in completing the forgiveness projection.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 5.) Record Forgiveness once awarded

Forgiveness Granted: 10/15/20 Debit Credit PPP Loan Payable $58,000. (Long Term Liability) PPP Funds Forgiven $58,000. (Other Income) Funds forgiven from PPP Loan * Full Forgiveness recorded Funds Forgiven $58,000 EIDL Grant Received 2,000 Total Funds Forgiven $60,000 PPP Loan Payable $2,000

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for Funds and Tracking Spending Step 6.) Any amount received in which forgiveness was not granted remains a loan

1% Interest

2-5 year Repayment Terms Amount • LOAN No Prepayment Penalty not • Current Portion < 1 Year forgiven • Long Term > 1 Year No Collateral

Deferred payment until SBA grants forgiveness

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Self Employed Accounting for Payroll Protection Program Funds • Funds received is based on 2019 net profit, not payroll records • Substantiation for forgiveness by writing themselves “Owners Compensation replacement” check • Maximum $20,833 if no employees (for 24-week covered period) • Maximum $15,385 if no employees (for 8-week covered period) • Records NEED to be kept current and up to date

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Organization + Timely Recording = Forgiveness

Know your timeline: • Date funds were deposited into your bank account • 8 Weeks and 24 weeks from the date the funds were deposited • Date forgiveness is granted 8 Weeks after 24 Weeks PPP Funds Date funds after funds Deposited Forgiveness is Deposited Deposited 5/1/20 Granted 6/26/20 10/16/20 • Keep all supporting documentation organized together • Keep records up to date – Consistently and easily identifying qualified expenses

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Employer Tax Credits

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Paid Sick and Family Leave Credit

The Families First Coronavirus Response Act (FFCRA) provides refundable credits to eligible employers to cover the costs of providing emergency paid sick and family leave benefits to qualified employees impacted by COVID-19, from Apr. 1 – Dec. 31, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Paid Sick and Family Leave Credit • Eligible employers are businesses and tax-exempt organizations that employ fewer than 500 employees and are required under the FFCRA to pay sick leave wages and/or family leave wages. • An Eligible Employer may claim a fully refundable tax credit equal to: • 100% of the qualified leave wages, plus • Allocable qualified health plan expenses, plus • Employer portion of Medicare tax on the qualified leave wages

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Employee Retention Credit The CARES Act provides the Employee Retention Credit, which is a fully refundable tax credit for eligible employers equal to 50% of qualified wages, including qualified health plan costs, up to $10,000 per employee ($5,000 maximum credit per employee). Applies to qualified wages paid after March 12, 2020 - December 31, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Employee Retention Credit Other eligibility rules: • Employers who received a Small Business Interruption Loan under the PPP are not eligible; self-employed individuals and government employers are not eligible. • Qualified wages do not include the amount of sick and family leave wages for which the employer received tax credits under the FFCRA, or the amount of paid family and medical leave wages for which the employer received tax credits under Section 45S. • If the employer receives the Work Opportunity Tax Credit for an employee, any wages paid to that employee are not eligible. • The IRS issued Publication 5419 in May 2020 – New Employer Tax Credits • Reference containing flow charts for the employee retention credit and leave credits. • Included as a handout in this presentation, or download directly from IRS website: https://www.irs.gov/pub/irs-pdf/p5419.pdf

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Claiming the Employer Tax Credits

The paid sick and family leave credits and employee retention credits are allowed against the employer portion of social security taxes (6.2%) and the portion of taxes imposed on railroad employers, that corresponds to the social security taxes. 1. The credits are refundable and claimed on employment tax Form 941, Employer’s Quarterly Federal Tax Return • Form 941 was revised starting with quarter ended June 30, 2020 to allow for these credits. 2. The employer may reduce the amount of its Federal employment tax deposits up to the amount of the credit amount 3. An advance payment of the credit can be applied for on Form 7200, Advance Payment of Employer Credits Due to COVID-19 • A payroll reporting agent can sign Form 7200 on behalf of a client, if the reporting agent has the authority to sign and file the client’s employment tax returns

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

Accounting for the tax credits will vary, depending on which of the three methods noted are used. Coordination with your payroll service provider is key. Example A – The employer pays $100,000 in total wages in quarter 2, which includes $10,000 in qualified sick leave/family leave wages. The employer also paid $500 in eligible health insurance expenses for the employees. Such amounts were within the period to qualify for the 100% credit. Employer payroll taxes due for the quarter as reported on Form 941 are: • Employer Social Security - $5,580 ($90,000 * 6.2%) • Employer Medicare - $1,450 (100,000 * 1.45%) The amount of the credit is 100% of the qualified expenses of $10,500, plus the employer portion of Medicare on the eligible wages, $145 ($10,000 * 1.45%), for a total credit of $10,645.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

Scenario 1 – The employer notifies its payroll service provider that it has paid $10,000 in qualifying wages during the quarter. The payroll service provider excludes this amount from the employer social security tax calculations. The employer continues to pay all other Federal tax deposits during the quarter. When Form 941 is filed for Quarter 2, the calculated overpayment is $10,645 and a refund will be issued.

How is this accounted for? • It is important to record the sick and family leave credits in a separate account, as the credit is considered a taxable government payment includible in in the employer’s gross income. • When the refund is received, the amount of $10,645 is recorded as Other Income: Paid sick & family leave tax credits • Retain supporting documentation for the credit – Payroll report noting qualified wages, Health insurance expense invoice, less employee withholdings

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits Below is an example of the journal entry for the payroll transactions and recording the receivable for the credit:

Account Description Debit Credit Wages Expense $100,000 Employer Payroll Tax Expense – Medicare 1,450 Employer Payroll Tax Expense – Social Security 5,580 Checking account 107,030 Payroll tax credits receivable 10,645 Other Income: Paid sick & family leave tax credits 10,645 To record payroll and paid sick & family leave credits due for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits The journal entry to record the refund when received is as follows:

Account Description Debit Credit Checking account $10,645 Payroll tax credits receivable 10,645 To record paid sick & family leave credits received for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

Scenario 2 – Assume the same facts as scenario 1, except the employer reduces its tax deposits by the amount of the calculated credit of $10,645. When Form 941 is filed for Quarter 2, the calculated credit of $10,645 is reported, along with the reduced payments made, resulting in $0 is due. No refund is to be received.

How is this accounted for? • Although the payroll tax deposits are reduced, the wages and other eligible expenses should not be reduced by the amount of the credit. • To properly account for the credits and expenses, key reports from your payroll service provider are necessary • Retain supporting documentation for the credit – Payroll report noting qualified wages, Health insurance expense invoice, less employee withholdings

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits Below is an example of the journal entry for the payroll transactions and the credit received:

Account Description Debit Credit Wages Expense $100,000 Employer Payroll Tax Expense – Medicare 1,450 Employer Payroll Tax Expense – Social Security 5,580 Checking account 96,385 Other Income: Paid sick & family leave tax credits 10,645 To record payroll and paid sick & family leave credits due for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

Scenario 3 – Assume the same facts as Example A, where the employer continues to pay the scheduled Federal tax deposits. In addition, the employer completes Form 7200 to request an advance of the credit amount and received $10,645 prior to filing Form 941 for Quarter 2. When filing Form 941, the credit of $10,645 is calculated, and the advance of $10,645 is listed. $0 is due with Form 941.

How is this accounted for? • When the advance is received, the amount of $10,645 is recorded as a liability • Payroll taxes are recorded as usual when paid. • Retain supporting documentation for the credit – Payroll report noting qualified wages, Health insurance expense invoice, less employee withholdings

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits As the advance received is based on the estimated amount of the credit to be received for the quarter, it is recommended that this post to a liability account. Once the credit is calculated and claimed on Form 941, it should be applied against the advance at that time. The journal entry to record the advance when received is as follows:

Account Description Debit Credit Checking account $10,645 Advance received (liability account): Paid sick & 10,645 family leave tax credit To record paid sick & family leave credit advance for the quarter ended June 30, 2020.

Account Description Debit Credit Wages Expense $100,000 Employer Payroll Tax Expense – Medicare 1,450 Employer Payroll Tax Expense – Social Security 5,580 Checking account 107,030 Advance received (liability account): Paid sick & 10,645 family leave tax credit Other Income: Paid sick & family leave tax credits 10,645 To record payroll and paid sick & family leave credit received for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

The accounting for the Employee Retention Credit is the same as in the previous examples for the leave credits. Example – The employer pays eligible wages and eligible health plan expenses in quarter 2, for the following employees:

Qualifying Total Employee Qualifying Health Plan Qualifying Retention Employee Wages Expenses Expenses Credit Employee 1 $15,000 $1,000 $16,000 $5,000 Employee 2 6,000 $0 6,000 $3,000 Employee 3 9,000 1,200 10,200 $5,000 Total $30,000 $2,200 $32,200 $13,000

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Employer Tax Credits

The accounting for the $13,000 in credits for the Employee Retention Credit is the same as the previous examples. In an effort not to duplicate the slides, the accounting transaction examples will not be repeated.

In each of the previous examples and scenarios, the accounting treatment would be the same, with the exception of the credit being $13,000 in place of $10,645.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Payroll Tax Deferral

Allows employers regardless of size (and self-employed individuals) to defer payment of the employer share (6.2%) of the Social Security tax they otherwise are responsible for paying to the federal government with respect to their employees. • Payroll tax deferral period begins the day the CARES Act was signed, March 27, 2020 and is allowed through December 31, 2020. • The provision requires that the deferred employment tax be paid in two equal installments over the following two years: • December 31, 2021 – 50% of the amount deferred • December 31, 2022 – Remaining 50% of the amount deferred • The Paycheck Protection Program Flexibility Act of 2020 states that a borrower can continue to defer the payment of the 6.2% employer portion of the social security tax after their PPP loan is forgiven. Previously, a borrower could not continue to defer payments of the employer portion of social security tax after they received a decision from their lender on PPP loan forgiveness.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Payroll Tax Deferral

In order to take advantage of the benefit of deferring payment on the allowable employer social security taxes, coordination with your payroll service provider is key, as they need to be made aware of this so they do not make the payroll tax deposits on your behalf. Example A – The employer pays $100,000 in wages in quarter 2, owes $1,450 in employer Medicare taxes and $6,200 in employer Social Security taxes. The employer reduces the amounts paid with the Federal tax deposits for quarter 2 by $6,200.

How is this accounted for? • When posting payroll during the quarter, the employer should still post the calculated employer social security taxes to payroll tax expense. As this is not paid, the offsetting credit is to a liability account, deferred payroll taxes.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Payroll Tax Deferral It is important to record the unpaid taxes as liabilities even though they are not paid at this time. The amounts are still owed, and have specific repayment dates. Below is an example of the journal entry: Account Description Debit Credit Wages Expense $100,000 Employer Payroll Tax Expense – Medicare 1,450 Employer Payroll Tax Expense – Social Security 6,200 Checking account (Net pay + paycheck withholdings) 100,000 Checking account (Employer Medicare tax paid) 1,450 Deferred Payroll Tax Liability 6,200 (Employer Social Security tax - not paid) To record payroll and deferred employer social security taxes for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Payroll Tax Deferral

Example B – The employer pays $100,000 in wages in quarter 2, owes $1,450 in employer Medicare taxes and $6,200 in employer Social Security taxes. The employer fails to notify the payroll service provider and continues to pay all calculated Federal tax deposits for quarter 2, including the $6,200 in social security taxes the employer wants to defer. When Form 941 is filed, the employer lists $6,200 on the line ‘Deferred amount of the employer share of social security tax.’ The employer receives a refund of $6,200.

How is this deferral and refund accounted for? • When the refund is received, the amount of $6,200 is posted to a liability account, deferred payroll taxes. As this is neither a reduction of social security taxes nor income, the offsetting credit is to a liability account, deferred payroll taxes.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Payroll Tax Deferral It is important to record the refund received of unpaid taxes as a liability, even though they are not paid at this time. The amounts are still owed, and have specific repayment dates. Below is an example of the journal entry to record when the refund is received:

Account Description Debit Credit Checking account $ 6,200

Deferred payroll tax liability 6,200 To record deferred employer social security taxes for the quarter ended June 30, 2020.

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Accounting for the Payroll Tax Deferral • Continue to record deferred payroll taxes in your accounting software through December 31, 2020. • It is recommended to reconcile the balance in the deferred payroll tax liability account each quarter to the amounts reported on line 13b, ‘Deferred amount of employer share of employer social security tax’ of Form 941. • Once you are certain of the accuracy of the deferred payroll tax balance as of December 31, 2020, ensure you will have sufficient funds to repay the deferred payroll taxes as follows: • 50% due by December 31, 2021 • 50% due by December 31, 2022

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP In Summary: Organization + Timely Recording = Maximum Benefits There are many relief programs available and to maximize the benefits received and efficiently record these benefits, it is critical to: • Communicate with your accountant and payroll service provider • Keep all supporting documentation organized together • Keep records up to date – consistently and easily identifying qualified expenses • Use QuickBooks and Payroll reports to track and organize expenses

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Reporting from your Payroll Service Provider

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Information Session on Covid19 payroll related topics with Paychex Inc.

47 “How To” questions and answers on payroll reporting COVID19:

New to Paychex: a) Check list confirming client details to ensure loaded properly during implementation process. The sales rep completes forms to submit with every new client.

New clients with no prior wages but have applied for PPP loans: a) Client needs to start processing payroll to cover loan. b) Sole Proprietors can process a draw OR they can convert to S-Corp/Corp to run through payroll.

Clients that switch over to Paychex before applying for PPP loan: a) Need break down of wages by payroll week for 2019 and 2020.

Clients that convert over to Paychex after applying for PPP loan: a) Need break down of each week by payroll for 2020. “How To” questions and answers on payroll reporting COVID19:

Tax Deferrals:

a) Paychex needs to know what date client started deferring along with weekly breakout of wages.

b) Current clients of Paychex would have to inform their payroll representative if they have either applied for the PPP loan, if they electing to do tax deferred and date that it started. “How To” questions and answers on payroll reporting COVID19:

• For current clients the first time you request the Employer Social Security Tax Defer we would have them sign an addendum to their Services Agreement.

• You only need to sign the addendum the first time you request the Employer Social Security Deferral under the CARES Act. If you are currently deferring and have a PPP loan you will not need to resign a new addendum.

• Paychex will apply your request to defer the Employer portion of Social Security to every organization that is a party to your service agreement with Paychex. If more than one organization is a party to the Service Agreement, Paychex will apply your request to all organizations included in the agreement. (Payroll, Tax Department, HR Services) FAQ’s: Some common questions we hear from our clients:

1) Does Paychex file form 7200 for clients?

2) Do garnishment payments continue during this time?

3) How do I receive the credits to employer social security on the paid leave earnings under FFCRA?

4) Is there anything specific that I need to do to report time or track hours to qualify for the tax credit?

5) I need to pay an employee for a pay period that crosses over from April 1, 2020. How do I handle that? FAQ’s: There are three reasons why you might want to file form 7200:

1. Employee Retention Tax Credit (Cares Act) 2. Refund Of wages for Qualified sick leave (FFCRA) 3. Refund of wages paid for qualified family leave (FFCRA) David Markle- Frequently asked GL set-up questions:

• How does the GL handle deferred Social Security tax when a business is allowed to defer this tax under the CARES Act?

• -How can we track payments to employees under the FFCRA?

• -If employers are providing paid leave as a result of the COVID-19 pandemic that does not fall under the FFCRA, how can we keep track of that separately on the financials? Returning to Work:

 Policies and procedures regarding WFH environments need to be updated?

 Is office space compliant with legislative changes? (Social distancing & protective equipment)

 Do work schedules need to be altered?

 New/Updated procedures and guidelines about safety for employees.

 New sick policy in place.

 Do health insurance plans need to changed/updated for coverage of COVID19?

 Update all policies and procedures in handbook with employee acknowledgment. Accessing the PPP Loan for Paychex Clients:

• Paychex has created a specialized report that has payroll costs calculations you’ll need to complete a PPP application.

• If the client does not use or have access online they can request the report that breaks out payroll cost with their dedicated payroll specialist.

• Please provide this to your CPA/Accountant Accessing the PPP Loan for CPA & Accountants:

• In the Accountant HQ site: you have access to your clients reports, Covid19 updates, ask for access for a client or refer a client.

• On the right hand side in Quick Reports you can have access to PPP loan. Questions?

Trish McMahon Business Consultant Cell: (716) 957-7483 [email protected]

220 Northpointe Parkway Suite 500 Amherst, NY 14228 Questions & Answers

PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP Contact us… If you have additional questions:

• Visit our COVID-19 Accounting Services Resource Center and our COVID-19 Resource Center https://www.tsacpa.com/coronavirus-covid-19-resource-center/

• Email our General Ledger Specialists for specific accounting questions: [email protected]

• Email our Response Team for specific COVID-19 questions: [email protected]

• CONTACT US Use the CONTACT US box at the bottom of the webpage to send your questions directly to our Response Team. We will try to respond within 24 hours.

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PRESENTED BY TRONCONI SEGARRA & ASSOCIATES LLP