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Started By
Message
re: PPP Payroll Allocation
Posted on 4/22/20 at 2:50 pm to Spock
Posted on 4/22/20 at 2:50 pm to Spock
quote:
I have been under the assumption that any employee that was employed in 2019 needs to be paid atleast 75% of their 2020 first quarter wages otherwise the forgiveness is reduced dollar for dollar.
This is false.
FTE has to match, you don't have to pay someone that worked for you last year but is no longer there. That would be foolish.
1
Posted on 4/22/20 at 2:54 pm to shawnlsu
quote:
This is false.
FTE has to match, you don't have to pay someone that worked for you last year but is no longer there. That would be foolish.
Ok I'm sure that's how the final rules are going to come out, but it doesn't seem to be that way right now. But the bigger issue is that I don't think you can just hire and pay any random employee. It's going to look at each individual employee's salary in the prior quarter as a comparison. So anyone's salary that drops more then 25% will reduce the forgiveness amount.
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