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
10:15 Single Member LLC taxed as an S-Corporation
18:34 Difference between salary and draw.
20:41 Taxed as Schedule C
27:07 What if I applied for the wrong amount of money (too much)?
30:21 S-Corp, owner employee plus 2 additional employees.
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.