PPP Changes for the Self Employed

Описание: Good news! The PPP deadline has been extended to MAY 31 and the loan formula for self-employed people has changed!

Anyone who files their taxes on a Schedule-C 1040 is now eligible to calculate their loan amount on their gross income (Line 7) or their net income (Line 31). You can still choose between the 2019 or 2020 tax year. If you have not filed your taxes yet, that’s ok, you only need to have a draft schedule C prepared.

These changes only impact new applicants for the first or second round of PPP and will not be retroactive. You have till MAY 31st to apply.

Connect with an SBDC Advisor today or attend one of our webinars to learn more about your COVID relief options!

Request advising: https://ic.nhsbdc.org/center.aspx?cen...