{"id":886,"date":"2020-06-19T18:50:58","date_gmt":"2020-06-19T18:50:58","guid":{"rendered":"http:\/\/belbolcpa.com\/blog\/?p=886"},"modified":"2020-06-19T18:50:58","modified_gmt":"2020-06-19T18:50:58","slug":"more-ppp-updates","status":"publish","type":"post","link":"https:\/\/belbolcpa.com\/blog\/more-ppp-updates\/","title":{"rendered":"More PPP Updates!"},"content":{"rendered":"<p>More PPP Updates:<\/p>\n<p><strong>New Forgiveness Application:<\/strong><\/p>\n<p>A new application to apply for loan forgiveness became available on June 16<sup>th<\/sup>. There is also an EZ Loan Forgiveness Application.<\/p>\n<p><strong>Payroll Costs % Decrease<\/strong><\/p>\n<p>Only 60% of loan proceeds must be used for payroll costs versus 75% with previously issued rules.<\/p>\n<p><strong>Maturity Date<\/strong><\/p>\n<p>Loans issues prior to June 5th have a maturity of 2 years, and loans issued after June 5th have a maturity of 5 years. I guess it doesn\u2019t pay to be early sometimes!<\/p>\n<p><strong>Payroll Period<\/strong><\/p>\n<p>For loans received before June 5<sup>th<\/sup>, you can calculate eligible payroll costs using a 24 week period or elect an 8 week period. If you received loan proceeds after June 5<sup>th<\/sup> then use the 24 week period.<\/p>\n<p>&nbsp;<\/p>\n<p><em>If you like what you just read, then don\u2019t hesitate to forward\/share with your friends and\/or click like!<\/em><\/p>\n<p><strong>Make sure to subscribe to our weekly emails to receive practical business, financial and tax strategies! <\/strong><a href=\"https:\/\/www.belbolcpa.com\/newsletter-signup.htm?\"><strong>Sign Up Now!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More PPP Updates: New Forgiveness Application: A new application to apply for loan forgiveness became available on June 16th. There is also an EZ Loan Forgiveness Application. Payroll Costs % Decrease Only 60% of loan proceeds must be used for payroll costs versus 75% with previously issued rules. Maturity Date Loans issues prior to June [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[2,3,90,247,7,8,18],"tags":[263,269],"class_list":{"0":"post-886","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-budgeting","7":"category-business","8":"category-debt","9":"category-employees","10":"category-expenses","11":"category-financial","12":"category-taxes","13":"tag-covid-19","14":"tag-ppp-loan","15":"entry"},"_links":{"self":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/886","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=886"}],"version-history":[{"count":1,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/886\/revisions"}],"predecessor-version":[{"id":887,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/posts\/886\/revisions\/887"}],"wp:attachment":[{"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/belbolcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}