Question

sba loans under 350K

Asked a question 10 months ago

If I have an employee who was an independent contractor in 2019 but is on salary in 2020, do I use their 1099 from 2019 in the loan calculation?

Liked by Matthew Glick

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Answered 10 months ago

Technically not. You have to go off of your 2019 payroll information.

If the owner of the S-Corp is an employee, but has not taken a salary in 2020, or 2019, can calculation and funds be used to take a salary as an employee or sub-contractor?

If the owner of the S-Corp is an employee, but has not taken a salary in 2020, or 2019, can calculation and funds be ... period, who has not been used before?

For purposes of calculating the average monthly salary for calculation of the loan amount , our company hired most of ... the average salary) the loan amount?

It sounds like there are 2 different calculations for the PPP - i.e., Loan Amount to apply for (DOES NOT include ... contractors in 2020). Is this correct?

For the EIDL grant application, are you aware of whether independent contractors would be considered employees for the question on # of employees?

I have one specific question that I’m hoping someone might have advice on. I know the applications are not yet ... help on this would be hugely helpful.