PAYROLL PROTECTION PROGRAM WALK THROUGH
This page attempts to provide the details how the Payroll Protection Program works and is followed by example calculations. It is not legal advice on how to process a PPP loan which should only be undertaken with assistance from a qualified accountant. STEP ONE –... Read More PAYROLL PROTECTION PROGRAM EXAMPLE CALCULATIONS
The following are simply a few made up examples of how the forgiveness program works, which is how you determine your ultimate pay back responsibility. It is obvious that the many variables in the program can change how this loan works. Sample Calculation #1 You... Read More
COMPLETING THE PPP APPLICATION
A sample application can be found here. For purposes of calculating “Average Monthly Payroll”, most Applicants will use the average monthly payroll for 2019, excluding costs over $100,000 on an annualized basis for each employee. For new businesses, average monthly... Read More
COMPLETING THE PPP APPLICATION
A sample application can be found here. For purposes of calculating “Average Monthly Payroll”, most Applicants will use the average monthly payroll for 2019, excluding costs over $100,000 on an annualized basis for each employee. For new businesses, average monthly... Read More
CARES ACT SUMMARY
The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act provides $2 trillion in emergency aid to businesses and individuals impacted by the COVID-19 crisis. The 880-page legislation is very complex. The content below is our best explanation and... Read MoreRecent Posts
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