PPP 100% Forgiveness Worksheet

Описание: Get peace-of-mind for 100% PPP loan forgiveness by laying out your 24-/8-week spending plan using our worksheet.

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VIDEO DESCRIPTION

In this video Chief Creative Designer Adrian G. Simmons goes over how to use the worksheet our team designed to help entrepreneurs plan for and achieve 100% forgiveness of their PPP loan.

It's intended to complement the post on our Insights Blog post entitled, "Avoid the PPP Loan Forgiveness Tripwires", which should be read for critical background: https://e-cpa.com/2WeqZfD

Note: The spreadsheet assumes you didn't reduce your employee headcount and didn't reduce employee salary/wages more than 25%.

UPDATE 15 May 2020: The SBA released the forgiveness application and partial forgiveness guidance. As intended, the bulk of this video remains current - two changes to be aware of: (1) the SBA allowed the option to apply an 'alternative 8-week period' for payroll costs only, and (2) the SBA allowed the inclusion of costs paid after the 8-week period if they were incurred within the period and paid at their next regular due date. See our blog post linked below for this and other details.


UPDATE 22 May 2020: The SBA released additional forgiveness guidance. The method described in the video remains current, but clarifications to be aware of: the SBA explicitly allowed employee bonuses but owner/self-employed compensation cannot exceed their 8-week 2019 compensation level. See our blog post linked above which we're keeping current with the latest.


UPDATE 3 Jun 2020: US Congress passed the PPP Flexibility Act. The method discussed in this video remains current, but changes to be aware of: (1) there is now an alternative 24-week spending window allowed and (2) the 75% payroll costs requirement has been lowered to 60%. See our blog post linked above which we're keeping current with the latest.



 [Our team is considering the design of packages to help entrepreneurs get their PPP loans forgiven. If you would be interested, simply here and our team will be in touch with details if we move ahead: https://e-cpa.com/2TjXgjF]

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NEXT STEPS

[__] Read our blog post & Download the worksheet: "Avoid the PPP Loan Forgiveness Tripwires": https://e-cpa.com/2WeqZfD


[__] Watch our video on using the Hubdoc digital receipt platform to simplify your business' records:    • Use Hubdoc for Business receipts + Integra...  


[__] Subscribe to our YouTube channel (above)


[__] Subscribe to our Insights Blog: https://e-cpa.com/2GeKXhX

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ABOUT US

The ElementsCPA Design Team is on a mission to help entrepreneurs design their business & finances to achieve a Clarified path, Tech-enabled finances, and Optimized tax. If you're an entrepreneur in technology or service space with around $500k to $5m in gross revenues and believe you could benefit from good design, we'd love to chat -- just reach out to schedule your personal Coffee Conversation to explore the value our teams can create together.

"Design with elements & spark your entrepreneurial creativity."

https://elementscpa.com | 301-604-3247