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CPAs are playing a vital role in helping smaller businesses cope with the COVID-19 pandemic. Julie Killian, CPA, a shareholder at Clayton & McKervey in Michigan, discusses how her firm’s clients are responding to the crisis. She also shares steps smaller businesses can take to improve their financial standing and increase their chances of staying afloat.

What you’ll learn in this episode:

• The relatively simple tool that’s an essential first step for businesses struggling to get a handle on their situation.

• What businesses should do first if they find themselves short on cash.

• Why demand for the Paycheck Protection Program (PPP) is so high.

• How businesses can determine whether they’re eligible for the PPP, Economic Injury Disaster Loans, or both.

• What clients should know about applying for government stimulus programs.