How to Document your PPP Expenses for Forgiveness
In order to apply for forgiveness of your PPP loan, you are going to need to provide proper documentation of all those expenses. We go through 3 things you need for each expense in order to ensure the bank and/or SBA can see your expenses as legitimate. We want you to prepare NOW so that you don't get caught without proper documentation down the road! We use our audit background to explain what the bank will care about.
If you haven't watched our video about "How to get your PPP Loan Forgiven" make sure you go watch that first here: https://www.youtube.com/watch?v=wfbQm6ppEkc&t=440s
To get the PPP planning spreadsheet mentioned in that video, get that here: https://clara-cfo-group-llc.ck.page/d5ef5d9b84
You may also want to watch "PPP Loan Forgiveness FAQs Answered" at https://youtu.be/5pFuXxeia8E
Find out more about the PPP directly from the U.S. Treasury: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses
If you want to explore Clara CFO Group, find us here: https://claracfo.com/
If you want to schedule a time to talk with Hannah (the one in the video) about your business, do that here: https://Claracfo.as.me/claritysessions
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.