Keith Stoller Tax & Business Solutions

Paycheck Protection Program (PPP) loan forgiveness and consulting

In order to have your loan forgiven, you will have to apply for forgiveness with your lender. That process will likely require you to prove that you used all of the funds on eligible expenses. 

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A Step Above Traditional Business Accounting

We know how difficult it is to keep up with ever-changing tax codes and resolution programs. You don’t have time to keep up with it all, much less create strategies to find relief from your tax burden.

At Keith Stoller Tax And Business Solutions, we offer a wide range of tax help and services to meet your exact needs. Consult with us today to see if you qualify for PPP tax forgiveness. We know the challenges of applying for the PPP loan and ultimately filing for forgiveness.  Keith Stoller Tax And Business Services is built on  personal relationships based on decades of tax success for our clients.

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Paycheck Protection Program (PPP)

The 8-week loan forgiveness

Keep in mind that the manner in which these proceeds are spent will be scrutinized during this 8-week period. Take steps to safekeep the money and accurately document the uses of the funds on authorized and forgivable costs.


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Deposit the loan proceeds into a segregated bank account. 

Although not required under the Act, segregating the funds may help you prevent commingling with other funds and more easily track the PPP loan proceeds for forgiveness calculation purposes.

A segregated account may also help ensure that the funds are not inadvertently used for unauthorized purposes. If the funds are used for unauthorized purposes, they must be repaid, and, if knowingly used for unauthorized purposes, you may be subject to additional liability, such as fraud.

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PPP Loan Data Is Not Indicative of Loan Forgiveness or Program Compliance

A small business or non-profit organization that is listed in the publicly released data has been approved for a PPP loan by a delegated lender. However, the lender’s approval does not reflect a determination by SBA that the borrower is eligible for a PPP loan or entitled to loan forgiveness.

Maintain Proper Documentation

Payroll tax filings and other appropriate documentation (i.e., cancelled checks, payment receipts, and transcripts of accounts) will be necessary to document that the proceeds were spent on authorized expenses during the 8-week period.
The Small Business Administration (SBA) requires that at least 75% of the loan proceeds be used for “payroll costs.” Further, at least 75% of the forgiven amount must be attributable to “payroll costs,” and no more than 25% of the forgiven amount may be attributable to eligible expenses other than “payroll costs.” 

​​​​​​​Have Questions About Your PPP Loan?

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Who We Are

Professional Accounting Services in Kern County with a Personal Touch

The entire reason we created Keith Stoller Tax And Business Solutions was for families just like yours. Our job is to make your life easier, and we spend tremendous amounts of time researching tax programs to enhance your chances of receiving tax forgiveness. We will also sit down with you to learn about your specific challenges and where you need help, every single one of our services are custom-tailored to your specific needs.

If you’re looking for an PPP tax  company that’s truly invested in solving your tax problem, please call us today at (844) 465-7829 to learn how we can help.

Don’t short yourself on allowable payroll costs.

What qualifies as payroll during the forgiveness period following the loan (eight or 24 weeks) is broader than you might think.

It’s not limited to salary, wages, commissions, and tips. PPP also includes:

  • payments for leave (vacation, parental, family, medical, and sick leave).

  • employer contributions to group health care benefits (including insurance premiums) for employees,

  • employer contributions to defined benefit or defined contribution qualified retirement retirement plans for employees, and​​​​​​

  • employer -paid state and local taxes assessed on compensation


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See Why Our Clients Rave About Our Tax Services

Prudence G.

Keith is my go to tax Guru. I have trusted Keith with my taxes for over 8 years since I became self employed. And now he manages the taxes for our store, for my sisters, and for several friends. I highly recommend Keith for any of your tax needs!

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 (844) 465-7829

Frequently Asked Questions

Will legal lending limits apply to SBA PPP loans?
Generally, the portion of a loan guaranteed by a U.S. government agency is excluded when calculating legal lending limits. Reviewing applicable state laws regarding legal lending limitations would enable financial institutions to confirm the most accurate method for determining legal lending limits. 

Will loans originated under the PPP receive CRA Credit?
In most cases, yes. According to existing examination guidance as well as the March 19, 2020 Joint Statement on CRA Consideration for Activities in Response to the COVID-19, when consistent with safe and sound banking practices and applicable law, loans that benefit small businesses and small farms impacted by COVID-19 serve the long-term interest of those communities and the financial system.

Has any portion of the second appropriation for the PPP been set aside for smaller lenders?Yes. Of the commitments authorized on April 24, 2020 by the Paycheck Protection Program and Health Care Enhancement Act, $60 billion of the funding was specifically set aside for smaller lending institutions.

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