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, and lease payments for any personal property, such as for vehicles and equipment as long as they were in force before 2/15/2020.
Payroll Costs
Payroll costs include wages, but also include group health care benefits, retirement plan contributions, and state and local payroll taxes.
Deadline
The application expires on October 31, 2020. Once the 8 week period is over do not hesitate to work on the application.
If you like what you just read, then don’t hesitate to forward/share with your friends and/or click like!
Make sure to subscribe to our weekly emails to receive practical business, financial and tax strategies! Sign Up Now!