More Clarity Around the Payroll Protection Program, with Craig Cody and Drew McLellan

Episode 58:

About Drew McLellan:

Drew McLellan has worked in advertising for 30+ years and started his own agency, McLellan Marketing Group in 1995 after a five-year stint at Y&R.
He also owns and runs Agency Management Institute (AMI), which offers agency management training, consulting and facilitates agency owner peer networks for small to mid-sized agencies (advertising, digital, marketing, media and PR).

The mission of AMI is lofty yet simple — help agency owners increase their AGI, attract better clients and employees, mitigate the risks of being self-employed in such volatile business and best of all — let the agency owner actually enjoy the perks of owning the joint.
Drew is still active in his agency as well, which has been around for 23+ years and is still cooking, so much to his parents’ relief, it seems to be working out.

Drew’s often interviewed/quoted and published in Forbes, Entrepreneur Magazine, AdAge, New York Times, Washington Post, AdAge, CNN, BusinessWeek, and many others. The Wall Street Journal calls him “one of 10 bloggers every entrepreneur should read.”

Drew is also the host of Build A Better Agency podcast, which is among the top 5% of all podcasts produced and features subject matter experts with a depth of expertise in the agency space.

When he’s not hanging out with agency owners and their staff, Drew spends time with his daughter and pondering why the Dodgers can’t seem to win the World Series.
Drew has a Master’s Degree from the University of Minnesota but alas, he cannot remember their fight song.

About Craig Cody:

Craig Cody is a Certified Public Accountant, Certified Tax Coach™, business owner, and the host of The Progressive Dentist Podcast. Prior to his current work, Craig spent seventeen years with the NYPD, where he retired as a Lieutenant in September 2000. Craig is an expert in helping his clients legally reduce their tax liabilities and keep more of their money. Through his podcast, Craig helps dentists grow their practices through smart financial decisions and through financial education of the kind that isn’t offered in dental school.

What You Will Learn:

  • The PPP relief loan, what we can use it for, and what we can’t
  • What we know so far about PPP eligibility for deduction
  • What has changed as a result of the new forgiveness application
  • Where the forgiveness application gives us the clarity that we didn’t have clarity before
  • What we can make of the IRS/Congress tussle over the PPP guidelines
  • Strategies we can use to mitigate our tax liability until the HEROES Act is passed
  • How the alternative payroll covered period benefits agency owners
  • How agencies can use PPP funds on expenses other than payroll
  • How we can reimburse agency employees for working from home expenses
  • How to avoid mistakes with your application

How to contact Drew McLellan:

How to contact Craig Cody:

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