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Tax Basis and PPP Loan Forgiveness - Wine Country Chapter In-Person Meeting 10.27.21
Jagerhaus Restaurant
2525 E Ball Rd
Anaheim, CA 92806

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Wednesday, October 27, 2021, 6:00 PM - 9:00 PM PDT
Category: Chapter Meetings

Tax Basis and PPP Loan Forgiveness
 Wine Country Chapter In-Person Meeting


Wednesday, October 27, 2021
6:00 PM to 9:00 PM


Jagerhaus Restaurant
2525 E Ball Road
Anaheim, CA 92806


What is meant by tax basis in your S corporation or partnership ownership interest? How does the Payroll Protection Loan forgiveness play into basis? This tax talk will walk through four real-life examples of how to calculate basis in an S corporation or partnership interest. We will walk you through which contributions to include, and which to exclude. How loans affect basis. Must the loan be from me, or can I guarantee a loan from the bank? What about payroll liabilities and credit cards - what to do with those? Does the tax-free income from Payroll Protection Loan forgiveness count? How does California play into this? Bring your questions, and come and learn!


George W. Teats Jr., CPA
George W Teats Jr is a CPA and has been working as an accountant since 1979. He has also been an instructor for the Becker CPA review course. He currently has a practice in Santa Ana, a local firm with a staff of four people, serving the needs of individuals, family-owned businesses, non-profit organizations, and estates and trusts.George is currently married, with two adult sons from a previous marriage, and five step children from his current marriage. He enjoys the adventure of trying exotic and independent (non-chain) restaurants of all different ethnic types.

CPE Information:

2 Federal Law hours (Topics covering existing tax law)
IRS: 18QC1-T-01568-21-I
CTEC: 1000-CE-4971

Knowledge Level: Intermediate (Basic knowledge helpful)


Registration Fee (Member): $35
Registration Fee (Non-Member): $65


Please register below:

This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at

Contact: Questions? Contact Steve Talavera at 562-325-4882 or [email protected]