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re: PPP advise please
Posted on 3/9/21 at 6:45 pm to Jjdoc
Posted on 3/9/21 at 6:45 pm to Jjdoc
Don’t want to hijack but. My wife didn’t apply in 2020. First app was Jan 2021 and used schedule c net profit. I keep reading about now can use gross vs net. And can get two draws. Can she apply again this week for her “ second” draw or first was 2020 and second is 2021 only?
1
Posted on 3/9/21 at 7:36 pm to Hankg
She should be able to double dip. You will have to count 8 weeks from the disbursement date of ppp loan 1 to apply for ppp loan 2. This is because you have 8 weeks to (on paper) use the funds for a ppp loan. So on paper she funded January 2021, used those funds over 8 weeks ending X and then applied for the second round of funds with the next 8 week election period. Make sense?
For ppp 2 she’ll just need to show the 25% reduction quarter over quarter to qualify.
For ppp 2 she’ll just need to show the 25% reduction quarter over quarter to qualify.
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