Second edition of online Q&A video series debuts this week December 7, 2020 (Hyannis, MA) – The Cooperative Bank of Cape Cod, in partnership with the Cape Cod Chamber of Commerce, addresses year-end tax implications of PPP and EIDL loans in the second installment of its “Twenty-Minute Tuesdays” series this week. The new edition of the monthly online Q&A video series, which provides local businesses and nonprofit organizations access to the Bank’s expert team, debuts on December 8. The series is hosted by Cape Cod Chamber of Commerce CEO Wendy Northcross. Robert Carey, the Bank’s vice president and commercial relationship manager, will be joined by Gary DellaPosta, a Falmouth-based Certified Public Accountant and business advisor, to help local businesses and nonprofits navigate the challenges of accounting for COVID-19 relief funds. Topics to be discussed include the availability of various federal and state assistance programs, which loans are forgivable and which are taxable, and how to avoid scams associated with the loans. “Several thousand of these loans provided a lifeline this year to businesses on Cape Cod, and it is crucial that they know what to expect for tax consequences or what they need to address with their accountants before year-end,” Bank Chair, President & CEO Lisa Oliver said. “The Twenty-Minute Tuesdays program is yet another vehicle for The Coop to provide important information to our small business customers during the pandemic.” Each prerecorded Q&A session can be viewed on the Cape Cod Chamber of Commerce landing page http://bit.ly/20MinuteTuesdays. Local business owners or representatives of non-profit organizations who would like to submit questions in advance can be done via the Chamber’s landing page. Other topics slated to be the future focus of Twenty Minute Tuesday include: § A new year, a fresh start for your business § We want to close our business for the winter – what now? § Is now the time to apply for a COVID-19 Economic Injury Disaster Loan (EIDL) loan? § What is the next “big thing” for commercial and business interest on the Cape? About The Cooperative Bank of Cape Cod: The Cooperative Bank of Cape Cod is an independent, local, mutual community bank with over $1 billion in assets and 170 employees. Established in 1921, the bank is committed to investing in the Cape Cod community where we live and work. The bank is headquartered in Hyannis with branches on Route 6A in Yarmouth Port, East Dennis and West Barnstable; in Sandwich at 275 Cotuit Road; in Hyannis at 695 Attucks Lane in Independence Park; in East Harwich at 1470 Orleans Road/Route 39; in North Falmouth at 660 North Falmouth Highway; in Falmouth at 238 Worcester Court; and in Marstons Mills at 3878 Falmouth Road. For more information, please visit www.mycapecodbank.com, www.facebook.com/mycapecodbank, or call 508.568.3400.