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PPP Fraud or Not? What is considered fraudulent PPP spending?

With more and more stories and fraudulent PPP spending coming to light, concerned borrowers are questioning whether they've committed fraud or not? In this video we look at what would constitute fraud based on the certifications that are made when a borrower gets the PPP money, and then we walk through example stories that can show us fraudulent activity verses proper PPP usage. 💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a free trial AND 12 months 50% off! https://claracfo.com/QBO 🙋‍♀‍Got Employees? Need a payroll company that knows what small businesses need? We recommend Gusto as the best small business payroll provider. Sign up for $100 gift card after you run your first payroll: https://claracfo.com/gusto 🏦 Need Forgiveness for your PPP loan? We recommend Upside Financial to get help with your PPP forgiveness paperwork and application. Get $100 off their service here: https://claracfo.com/upside (As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases) Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ 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.

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