adventure907
WKR
What if they’re NOT
Then that would be a good thing
What if they’re NOT
My accountant said the is only for 2 weeks of sick pay if I get sick and can’t work. Or if my business is non-essential and can’t work.You want the Paycheck Protection Program loan.
2.5 times monthly payroll, all forgiven if you maintain payroll.
salaries capped at $100,000 for calculating loan.
Banks here are supposed to roll it out tomorrow (Friday) but they don’t have everything from the feds yet.
this is what you’ll need to file with the bank. https://www.sba.gov/sites/default/files/2020-03/Borrower Paycheck Protection Program Application.pdf
I can tell you from personally answering their little 3 question questionnaire on the website for self employed people that every combination of answers I tried got the same "it would appear you will not be eligible for benefits under this program".Self em
Self employed can apply starting the 10th. She is going to treat things like she is the employee and look at her average monthly income. She can also pay rent or mortgage interest, but must pay mortgage principal out of what she receives as wages from that portion of things.
If she rents chairs in her salon to other beauticians she should encourage them to also file as self employed and they can then get a loan for their earnings plus rent and then they can still pay her.
So long as she doesn't fire herself or spend over 25% on utilities, rent, etc. These seem the most straight forward for forgiveness
I can tell you from personally answering their little 3 question questionnaire on the website for self employed people that every combination of answers I tried got the same "it would appear you will not be eligible for benefits under this program".
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It's on benefits.gov under the coronavirus stuff.Do you have a link to this questionnaire?
Thanks!!
Sorry haven't seen this pop up again for some reason. Pm me if you still have questions!Stick and String, should we also contact our accountant before we apply for these loans? I would like to pm you or call if possible. Thanks
I have 97 employees had my stuff to the bank last wed saw the change thursday had new forms first thing ready Friday morning bank called at 2 I went and signed the paperwork and deposited the monies. I almost felt like a democrat for a few seconds!!! Ive paid plenty in over the last 25 yrs time to get a fraction back for taking all the risk and keeping some great people employed!!
If you own a small business you need to be on top of it quickly!!!