Question

SBA Disaster Loans

Asked a question 10 months ago

Are single member LLC owners draws considered "payroll" for PPP?

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Liked by Pete M. and 4 others

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Answered 10 months ago

We believe they will consider this payroll but are awaiting direction

Liked by Lind Stevens and 4 others

For PPP: As a single member LLC (with no employees) taxed as Sole Prop. Can I pay myself with an owner's draw (NOT as a ... as a forgivable "payroll" expense?

Our owner also owns two holding company with no employees and two LLCs with no employees. Can we apply for the PPP loan?

We are an LLC but technically considered a sole owner LLC (disregarded entity for tax filing purposes). So we file ... entity or form 5C as sole proprietor?

I understand that all owners with over or equal to 20% interest would have to personally guarantee a SBA loan. Our ... more than 20% of the LLC have to apply?

If I was in business in 2019 but only started payroll in 2020, can I use the 2020 payroll to calculate the average monthly payroll for EIDL and PPP application?

S-corp distributions are not "payroll". So, it is only W2 wages that qualify under the PPP??