We have an LLP. The partners receive Guaranteed Draws in addition to year-end K-1 profits. For argument, lets just assume the draw amount is capped at $100k.
We will be applying for PPP for the company using our employee payroll. Do the partners need to separately and individually apply as Self-Employed or should we include the guaranteed draws in the payroll figure on the company loan?
We will be applying for PPP for the company using our employee payroll. Do the partners need to separately and individually apply as Self-Employed or should we include the guaranteed draws in the payroll figure on the company loan?
