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For the PPP loan forgiveness, I am self employed and I only
For the PPP loan forgiveness, I am self employed and I only have enligible non payroll costs like mortgage interests, utilities, etc. The SBA form says “the eligible non payroll costs cannot exceed 25… read more
ALEX O
ALEX O
Partner O & G Tax
Master's Degree
1,654 satisfied customers
I received a PPP loan as a sole proprietor with no
I received a PPP loan as a sole proprietor with no employees. Can I also apply for PUA unemployment in NV? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
14,538 satisfied customers
I've asked you a few questions about the PPP loan recently
Good afternoon. I've asked you a few questions about the PPP loan recently and I would like to ask you at least one more. In order to get full forgiveness, do we need to exhaust 100% of the funds with… read more
DK_CPA
DK_CPA
CPA
Master of Science in Accounting & Taxationb
2,239 satisfied customers
Looking for guidance and what payroll is covered by SBA PPP.
Hello, Looking for guidance and what payroll is covered by SBA PPP. Is the measurement, no greater payment than $1923.08 per week ($100,000 divided by 52 weeks). If an employee earns more than $100,00… read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
240 satisfied customers
In order to get full forgiveness for the PPP loan, do we
In order to get full forgiveness for the PPP loan, do we need to exhaust 100% of the funds with 75% of the total being spent on payroll/employee benefits or do we need to exhaust 75% of thefunds on pa… read more
Fred Rook
Fred Rook
Corporate Controller
BSBA
721 satisfied customers
I am self employeed LLC I am only employee in the eyes of
I am self employeed LLC I am only employee in the eyes of the SBA I freelance other workers when needed. I have been approved for PPP loan 12,980 total 2.5x my average earnings per month. I am also ap… read more
Barbara
Barbara
Enrolled Agent, Paralegal
14,538 satisfied customers
I have a question related to a PPP loan. I applied for my
I have a question related to a PPP loan. I applied for my real estate business for a ppp loan. Of which I was awarded a sum. I put on my application that I have 2 total employees. Myself and my daught… read more
Brian Michels
Brian Michels
Partner, CPA
Bachelors of Business Administration
240 satisfied customers
I see My ppp loan can pay 8/52 of annual profit for my
Dear Carter I see My ppp loan can pay 8/52 of annual profit for my compensation. But it is 74.15% of the total loan that does not meet 75% loan to payroll. Will that still be forgiven ? Or I need to p… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
I own a restaurant. I applied for PPP loan. My average
I own a restaurant. I applied for PPP loan. My average monthly payroll is 12838.80 provided my 2.5 monthly $32,097. In the form I applied for , there was a line that has to do with EIDL loan. At the t… read more
Rick
Rick
MBA
3,046 satisfied customers
I am a self-employed sole proprietor who has no employees. I
I am a self-employed sole proprietor who has no employees. I Close my business on April 1st because of the COVID-19.Because of my financial situation I was trying to find a way to cope with everything… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
I got the PPP loan. My T Mobile phone services have been in
Hi, Carter, I got the PPP loan. My T Mobile phone services have been in a group plan. The group organizer pays the bills for every member of the group. Then we pay him. Can he provide the receipts to … read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
I have a single member LLC (no employees). After got PPP
Hi, Carter, I have a single member LLC (no employees). After got PPP loan, how should I spend it and book keeping? I filed schedule C in 2019 tax return.ThanksThanks.… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
A corporation that has a triple net lease receives the PPP
A corporation that has a triple net lease receives the PPP loan. Can they include the real estate taxes, insurance & maintenance they are required to pay in the rent portion of the PPP loan funds they… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
I am trying to understand how I can use the PPP funds so
I am trying to understand how I can use the PPP funds so that the loan is forgivable … read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
I need help with SBA stimulus loan and grant. New york. None
yes we are a start up with no payroll as we are only 3 partners in the company but have other expenses such as rent, utilties etc...… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
We off 8 employees from the closure from covid. They all
We laid off 8 employees from the closure from covid. They all receive CA unemployment insurance, When we receive the PPP loan do we need to rehire them and wait two week ( pay period ) them write thei… read more
Carter McBride
Carter McBride
LLM
5,050 satisfied customers
Lane. For Taxpayer who is 100% owner of LLC (files business
Hello Lane. For Taxpayer who is 100% owner of LLC (files business schedule C), what would be considered average monthly payroll to be entered on PPP Application form? Would it be his net income for th… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,768 satisfied customers
Lane, for PPP to be forgiven, do you have to keep and pay to
Lane, for PPP to be forgiven, do you have to keep and pay to the same employees or, if original employees left (because they afraid to work due to COVID-19), but new were hired, would that qualify for… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,768 satisfied customers
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