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Started By
Message
re: PPP Payroll Allocation
Posted on 4/22/20 at 2:54 pm to shawnlsu
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.
1
Posted on 4/22/20 at 3:04 pm to Spock
quote:
So anyone's salary that drops more then 25% will reduce the forgiveness amount.
They aren't going to penalize the company if John Smith doesn't return to work and John Doe takes his place provided the pay is within 25%.
If you pay John Smith $1000 per week and you pay John Doe $400 per week you are going to have some issues.
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