PPP Deductibility of Expenses, Loan Forgiveness, Deferrals & Payoffs FAQs

Tuesday, May 5, 2020

Our Perspective on PPP

2:39 Availability, receiving or returning the funds.

5:32 How to get PPP funds. If you've applied, should you apply elsewhere?

8:25 What if I applied through multiple banks?

10:13 How long does it take to get funds once I've been approved?

Loan Forgiveness, Deferrals & Payoffs FAQs

12:00 How we get forgiveness of PPP funds? SBA vs Bankers.

15:50 Things to do when tracking PPP funds for foregiveness.

18:20 When does 8 week usage period begin? What to do for people not open for business yet?

20:05 What documentation will I need when applying for forgiveness?

23:05 Employees over $100,000 salary.

23:34 Providing rent documentation.

26:55 Employees will not come back to company after layoff or furlough.

32:55 Is it appropriate for lending institution to ask for banking login/password?

34:20 How will funds used if employees aren't brought back full time?

37:25 Payroll for independent contractor and self-employed?

41:15 Applied for PPP but used wrong amount. What should I do? Can this be fixed?

45:50 Is health insurance part of compensation amount that will be forgiven?

47:40 What if my business isn't open to the public yet?

50:00 Can I use 75% on my $100,000 salary?

Forgiveness and Deductibility

51:44 Deductibility of forgiven funds.

55:44 There is no such thing as free money. What to do with PPP funds? Keep as loan or return it?

58:00 Neccessity for PPP Funds

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