- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: PPP Loan Forgiveness App is finally out
Posted on 5/23/20 at 1:36 pm to RedStickBR
Posted on 5/23/20 at 1:36 pm to RedStickBR
quote:
3) If payroll 1 fell one day after I received the funds, and payroll 5 falls a week after my 56-day period ends (but nonetheless includes some days that are within the 56-day period), can I include all five payroll periods in my forgiveness calculation?
This is our situation. We had a payroll three days after funding and have another payroll four days past exactly fifty-six days.
Posted on 5/23/20 at 4:29 pm to VABuckeye
quote:Same.
This is our situation. We had a payroll three days after funding and have another payroll four days past exactly fifty-six days.
We pay twice a month.
Had a payroll 8 days after funds disbursed.
Final payroll will contain one day that falls within the 56 day window.
This post was edited on 5/23/20 at 4:32 pm
Posted on 5/23/20 at 4:41 pm to VABuckeye
I'm taking the approach that since you paid payroll right after funding. Include it.
Then taking the amount of payroll that was incurred at the end of 56 day/8 week but paid after the 56day/8 weeks. So include the stub period but paid after.
Then taking the amount of payroll that was incurred at the end of 56 day/8 week but paid after the 56day/8 weeks. So include the stub period but paid after.
Posted on 5/24/20 at 11:47 am to kaaj24
quote:
I'm taking the approach that since you paid payroll right after funding. Include it. Then taking the amount of payroll that was incurred at the end of 56 day/8 week but paid after the 56day/8 weeks. So include the stub period but paid after.
This is the assumption I'm operating under. But if we could include the FULL final payroll that falls after 56 days but nonetheless includes some days within 56 days, that would help.
Posted on 5/24/20 at 1:11 pm to RedStickBR
If i payout my whole amount 100% of the PPE within 56 days i should be alright correct? I know its 75% within 8 weeks but im thinking of doing the whole amount within 56 days. Its going to be 4 payouts of the same amount within 56 days. MY PPE was not alot.
Posted on 5/24/20 at 4:17 pm to Double Oh
is anyone else facing a dilemma with retirement contributions?
I included 8 weeks prorated SEP contributions on the advice of our CPA but we do the actual funding at the end of our fiscal year in March. Due to an error on our part way back when we started the SEP we are always one year in arrears on each employees tax year, so we are maxed out for the 2020 tax year and can’t contribute until January
I was thinking about just opening a new money market account at vanguard and stashing the 8 weeks funds there and see what happens on forgiveness review
I included 8 weeks prorated SEP contributions on the advice of our CPA but we do the actual funding at the end of our fiscal year in March. Due to an error on our part way back when we started the SEP we are always one year in arrears on each employees tax year, so we are maxed out for the 2020 tax year and can’t contribute until January
I was thinking about just opening a new money market account at vanguard and stashing the 8 weeks funds there and see what happens on forgiveness review
Posted on 5/24/20 at 7:35 pm to cgrand
it's a good question. maybe you could take the position these prorated costs were incurred over the 8 week covered period.....
Popular
Back to top
Follow TigerDroppings for LSU Football News