You want to make sure that as much of your PPP loan is forgiven as possible. Here are a few ways you may not have thought of: Non-Payroll Costs: You can include interest payments on loans, the cost of telephone services, including your cell phone, faxes, VOIP services, and Internet services, fuel for your vehicles, […]
Archives for May 2020
PPP Loan Forgiveness Application
There is a forgiveness application that was made available from the Paycheck Protection Program and here are the highlights and definitions: Average Full-Time Equivalent “FTE” Calculation: To calculate FTE, you can use a simplified version to determine this by assigning a 1.0 for employees who work 40 hours or more per week and 0.5 for […]
What Will Your Business Look Like and What Changes Can You Make?
Eventually things will open up fully and business activity will be flowing better than it is right now. What will your business look like and what are some changes you can make? Technology The use of virtual meeting technology has skyrocketed with apps like Zoom and Google Meet. This pandemic has forced businesses to be […]
PPP Loan Forgiveness
It sounds like it would be straightforward to have your PPP loan forgiven, but that’s like saying the tax code is straightforward. Here are details and confusion on loan forgiveness: 8 Week Period Qualified expenses have to be paid or incurred during the 8 week period after receiving the loan. Is it incurred or paid? […]
What Should We Do?
With business closings, unemployment, restrictions, and people directly or indirectly impacted by the virus, what should we do? Here are some things we can do: Don’t Make Drastic Changes When possible, do not make significant, time-consuming, and cash-consuming changes. These are not normal times and no one knows how long this situation will last. Adapt […]