Self Employed Ppp Loan Forgiveness Calculator, Ppp Loan Guide Startup Junkie

These faqs are for informational purposes only are general in nature and should not be relied upon or construed as a legal opinion or legal advice.

Hp 246 government laptop drivers windows 7 32bit. This form applies to you as long as you dont have employees on payroll. The ez application is intended for borrowers with simple organizational structures sole proprietor self employed etc and for borrowers who maintained pre covid 19 wage and headcount levels during the covered period of their ppp loan. Owner employees who received a w 2.

The values and figures shown are hypothetical may not be applicable to your individual situation and may not represent the most recent guidance published by the us. Self employed individual independent contractor or sole proprietor who had no employees at the time of the ppp loan application and did not include any employee salaries in the computation of average monthly payroll in the borrower application form automatically qualify to use the loan forgiveness application form 3508ez or lender equivalent. Answer these yesno questions.

This is everything we know based on information directly from the sba and the 19th interim final rule ifr filed on june 19th 2020. Allocated 349 billion plus an additional 310 billion the program provides forgivable loans to. If you do have payroll expenses then you can use the standard forgiveness application.

Self employed individuals can use a simplified forgiveness application we call the ez form. Service must have been established prior to 2152020 limited to the extent it was claimed or entitled to be claimed on 2019 schedule c. Ppp self employed loan forgiveness as of 6102020 utilities includes payment for electricity gas water transportation telephone or internet access.

The paycheck protection program ppp a lifeline thrown out by the federal government is meant to help them keep employees on their payroll. Form 3508s forgiveness calculator. For use by self employed borrowers without employees this ppp loan forgiveness calculator aligns with the loan forgiveness application ez released by the sba form 3508.

This calculator aligns with the sba form 3508 ez for borrowers without employees to work through their potential ppp loan forgiveness. This calculator is for those with 50000 or less from the ppp. We expect the big lenders will set up their own online application process so you may not need to fill out.

General partners receiving a 2019 k 1 with self employment earnings. As the country slowly reopens and restrictions are being lifted and reinstated small businesses and the self employed are struggling to stay afloat. How to determine if you can use the ez ppp loan forgiveness application.

We created a comprehensive comprehensible guide all about ppp loan forgiveness for the self employed sole proprietors and independent contractors.