Elections and the Market

Spencer Kenley Investments Leave a Comment

In the face of the coming presidential election, many investors wonder how the outcome of the race for the White House will impact market returns. While it is easy to get caught up in the excitement and noise of the moment, history shows that the winner of a presidential election is not a reliable predictor of what will happen in the stock market. Election campaigns and biased news media will argue that “this time is different;” however, we believe that the sun will keep coming up and the economy will drive forward regardless of who is president.

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Spencer KenleyElections and the Market

Paycheck Protection Program Flexibility Act

Nate Williams COVID-19 Updates Leave a Comment

On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020. This new law significantly changes the rules of PPP forgiveness, allowing most borrowers to receive maximum forgiveness. As has been the norm, we expect more guidance and changes to come. We will continue to stay on top of any changes and keep you updated. In the meantime, here is a summary of the new bill and how it applies to dental/medical practice owners.

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Nate WilliamsPaycheck Protection Program Flexibility Act

PPP Update – House Passes New Bill

Nate Williams COVID-19 Updates, General Leave a Comment

On Thursday, May 28, the House of Representatives passed a new bill (417-1 in favor), which will drastically alter the rules and timeline surrounding PPP Loan Forgiveness. While the legislation has not been signed into law yet, we anticipate that a version of it will soon. There may still be changes to the new law before it passes through Senate, but as it stands now, here are some of the major changes:Read More

Nate WilliamsPPP Update – House Passes New Bill

PPP Forgiveness Webinar

Nate Williams COVID-19 Updates, General Leave a Comment

Nate will be hosting a webinar at 5:15 PM PDT on May 21, 2020. Register for the webinar here.

In this webinar, Nate will cover:

  • Principles of PPP Loan Forgiveness
  • Updates from the SBA and Treasury on forgiveness rules
  • Plan and timeline for helping PFG clients apply for forgiveness

Please be sure to register and come prepared with any questions you have!

Nate WilliamsPPP Forgiveness Webinar

PPP Loan Forgiveness: What We Know, and What is Still Unknown

Nate Williams COVID-19 Updates Leave a Comment

As a team, we have spent hundreds of hours researching, studying, and learning about the Paycheck Protection Program (PPP). Collectively, we know more than most when it comes to this loan and how it works. Nevertheless, at this point in time the SBA and Treasury have left several questions unanswered. Each day we scour our resources for new information and will continue to do so. In the meantime, here is a summary of everything we know about PPP forgiveness, as well as questions that are still unanswered.

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Nate WilliamsPPP Loan Forgiveness: What We Know, and What is Still Unknown

PFG’s Employment Guide For Returning to Work

Nate Williams COVID-19 Updates, General 1 Comment

A month ago, we published our blog post “PFG’s Employment Guide During COVID-19 Crisis.” At the time, offices across the country were shutting down. Now, after a month in hibernation, dental practices are slowly beginning to reopen, bringing a whole new set of questions and concerns.

First, let me disclaim the obvious: we are not HR specialists. On our team, we have eight CPAs but not one CPA-level organizational behavior person. Fortunately, there are many smarter than me in this area who are sharing a lot of good information and ideas on the topic of human resources.Read More

Nate WilliamsPFG’s Employment Guide For Returning to Work

You’ve Received the PPP Funds – Now What?

Nate Williams COVID-19 Updates 2 Comments

Many of our clients around the country have received (or will soon receive) funds from the PPP loan. The next obvious question to arise is this: now what?

At the time of this writing (10:13 AM PST, April 23, 2020), the SBA has not given all the guidance that will come regarding forgiveness of the loan. There is still a lot that we don’t know about the forgiveness process and calculation. Here is what we do know:

  • The Federal Government is a very blunt instrument (think: root canal with a baseball bat); many people will try to defraud of this program; other intended beneficiaries will miss out. As such, the government will be making many changes over the coming weeks in an effort to better direct the use of funds toward their intended purpose. Some of these changes may benefit you, others may not.
  • After the 8-week period is up (or sometime thereabouts), the bank who gave you the PPP loan will have a process for you to apply for forgiveness.
  • The banks want as much of these loans forgiven as possible – they do not want a 1% loan on their books.

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Nate WilliamsYou’ve Received the PPP Funds – Now What?

Additional PPP Funds Pass Senate – Apply Now

Nate Williams COVID-19 Updates Leave a Comment

Yesterday (April 21), the Senate passed additional funding for the PPP loan program. Here is a summary of what was passed:

  • $484 billion – size of total relief package
  • $310 billion – allocated to PPP
    • $250 billion – available to all banks
    • $60 billion – reserved for “smaller lenders”

The House of Representatives needs to approve this funding and is set to vote on Thursday (4/23); if passed, the President is expected to sign this into law shortly thereafter. We expect that the SBA system will reopen the funding of the PPP loans this week—possibly as early as Thursday! If you have not yet applied for the PPP loan, and want to do so, we recommend that you apply today.Read More

Nate WilliamsAdditional PPP Funds Pass Senate – Apply Now