COVID-19: Navigating the Complexities Around
Tipped Employee Wages and PPP Loan Impact

The impact of COVID-19 on certain businesses, along with the advent of the Paycheck Protection Program (PPP), adds a complicated dynamic for employers with respect to tipped employee compensation. As businesses reopen and employers rehire their employees, it is understandable that confusion exists. Although there is no "perfect practice," employers must be mindful of both their PPP loan forgiveness objectives and the applicable employment laws as they continue to implement varying practices.

There are many considerations when determining how best to structure the compensation of tipped employees during the PPP loan period. For additional guidance, and to view our analysis of several practices as it relates to tipped employee compensation, visit us online.

PPP Flexibility Act
of 2020 Passed by
the Senate

The Flexibility Act, expected to be signed into law shortly by President Trump, provides some relief and flexibility in the use of the PPP loan funds. Review changes to the program and its impact on borrowers.

Restaurant Institute's Fourth Annual Summit 

GBQ is pleased to participate at the Fourth Annual Food, Beverage & Labor Cost Management Summit being held on August 3rd in Columbus, OH. View event details and registration by clicking here.

FASB Issues ASU in Response to Impact of COVID-19

ASU No. 2020-05 is intended to provide immediate, near-term relief for private companies and nonprofit organizations in implementing two of the most substantial accounting changes.

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