The Realtors® Perspective: PPP EZ Form Explained

Tuesday, July 7, 2020

Jo Ann Koontz, Jackie Durham and Marina Parkin provide examples of completing the PPP Loan Forgiveness Application Form 3508EZ (EZ Form). These examples will be focused for Realtors®, Schedule C filers and self employed individuals.

1:18 Updates: Deadline to apply extended, PPP borrower public disclosure information.

4:42 EZ Form eligibility requirements

EZ Application Example 1:

10:15 Single Member LLC taxed as an S-Corporation

18:34 Difference between salary and draw.

EZ Application Example 2:

20:41 Taxed as Schedule C

27:07 What if I applied for the wrong amount of money (too much)?

EZ Application Example 3:

30:21 S-Corp, owner employee plus 2 additional employees.

Live Questions:

37:42 Explanation of 2.5 months (8 weeks) vs 24 week regarding the amount for forgiveness.

41:20 Can I use PPP funds to make a contribution to 2020 SEP?

44:08 What if I need more than 8 weeks but not 24 weeks?

45:51 What is the deadline for application?

48:53 File now or wait for changes?

50:20 Using PPP for payroll and EIDL for other business expenses.

52:17 Certifications for forgiveness.

Back to Koontz & Associates, PL Blog

Schedule a Consultation