NEW YORK, April 3, 2020 /PRNewswire/ -- Mazars USA LLP, a leading accounting, tax, and consulting firm, announced today that it has launched a tool to help small businesses calculate the amount they are eligible to receive from the Paycheck Protection Program (PPP). This tool is available for small businesses, CFOs, and accounting firms to help them navigate the complex and dynamic program, increasing the speed of the application process.
As part of the CARES Act, the PPP can provide a loan of up to $10 Million to address the damage caused by COVID-19, covering 8 weeks of payroll, rent mortgage interest and utilities. The loan is a lifeline for small businesses with fewer than 500 employees during a very challenging economic environment.
The PPP Analysis Tool, one of the first on the market, helps businesses optimize the greatest loan amount while maximizing loan forgiveness under the provisions of the CARES Act.
The PPP has many nuances and pitfalls that companies need to be aware of. By utilizing this tool, companies can analyze the impact of timing of headcount reductions, furloughing employees, and pay reductions on the loan amount and loan forgiveness.
The PPP has a fixed amount of funding and Mazars USA recommends that companies apply early.
The tool, which is available for a one-time purchase, can be downloaded here: https://mazarsusa.com/ppp
For questions about the PPP or the PPP Analysis Tool, please contact [email protected].
For media inquiries, contact:
Makovsky | Ben Jaffe, 212-508-9646 | [email protected]
About Mazars USA
Mazars USA LLP is a high-performing accounting, tax and consulting firm with significant national presence in strategic U.S. geographies. Since 1921, our dedicated professionals have leveraged technical industry expertise to develop customized solutions for clients, create value, and Optimize their performance. We offer a broad array of industry specialists providing services to growth-oriented enterprises and individuals. As the independent US member firm of Mazars Group, we deliver seamless access to the expertise of 24,000 professionals in 90+ countries. At local and global levels, we are proud of our value-added services, building lasting relationships with our clients and communities. For more information, visit us at www.mazarsusa.com.
SOURCE Mazars USA LLP