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Asked a question 2 years ago

In regards to the Payroll Protection Program (PPP), is the amount to borrow 2.5 times payroll with payroll being defined to include wages, health insurance premiums, consultants, lease payments and utilities? The last two items being particularly crucial to our specific business model.

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Answered 2 years ago

Rent and utilities not included in the 2.5 times calculation. They are part of forgiveness, but not for the borrowed amount

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??

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

Employer Payroll Tax Deferral - What is this and how do you apply or is it automatic? So are employer payroll taxes not ... the Employer Payroll Tax deferral?

If we have paid a 1099 employee through payroll and they apply for the grant through the EIDL can we include those funds in our payroll amounts for the loan?

Some of the critical monthly services of my business are done by contractors i.e. my bookkeeper. would the amount i pay ... under the Payroll Protection Loan?

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