Question

PPP PPP Loan Amounts

Asked a question 10 months ago

It seems unclear whether distributions to owners will be a forgivable payroll expense under the PPP. (I assume no?) Have you seen any language as to whether it is advisable to hold off on paying those to owners in order to not jeopardize the forgivable aspect of the loan or can it be assumed that distributions are being made with other funds and not loan funds?

1 reply 1 comment

Liked by Matt Martin

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

Answered 10 months ago

many I have heard from including CFO say YES, whether draw or salary dispersement. Better to beg forgiveness than ask permission situation?

I know we can't double-dip from both PPP and EDIL loans. does anyone have guidance on how best to use the funds from the ... our chances at PPP forgiveness

I and a lot of others are unclear on whether or not owner's distributions for 2019 should be included in the PPP payroll calculations. Can anyone clarify? Thanks!

For the PPP loan forgiveness that is available after 8 weeks. Is the amount you can ask for forgiveness 100% of the loan ... that was calculated in the PPP loan?

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?

Can a PPP loan that has applied for forgiveness, but not received forgiveness yet, still do an amendment to that first PPP loan?

An interesting question from my client who is concerned that her business will never recover even with PPP funding. If ... when determining loan forgiveness?