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PPP Loan Forgiveness - Shared screen with speaker view
Steve Clouthier
30:12
Could you repeat the taxable/non-taxable information regarding PPP, expenses, EIDL grants, and EIDL loans before closing the webinar? Thank you.
Steve Clouthier
31:10
Are non-payroll expenses incurred prior to distribution date but paid after also eligible?
Julia Girman
34:13
Will we have access to the recording? I was on another call that just ended so missed the first 15 min or so
Teri Terrien, SCORE Rhode Island
34:54
Yes, we will provide everyone with the recording!
Julia Girman
35:06
Great thank you!
Paul Lefebvre
35:54
Will the audio be included in the presentation that we will receive afterward or only the .PDF?
Teri Terrien, SCORE Rhode Island
36:40
We will send you the audio.
Paul Lefebvre
36:55
Great!
Cliff Robbins
37:04
Ty
Deb Perry
37:44
thank you!
Kara Maggiacomo
38:01
Thank you.
Carmen Roy
38:32
So if we ran payroll through the PPP account, do we then need to pay back the employer taxes, SS amounts and retirement matches, as not covered under PPP loan?
Carmen Roy
38:58
Do we pay those back into that account and then continue to use those funds?
James McGuire
40:25
For sole proprietor LLC at-home business, is mortgage interest and utilities acceptable expenses and at what percentage of them is allowed?
Steve Clouthier
45:11
If my EIDL grant, received prior to receiving my PPP loan, is deducted from my eligible forgiveness, and that amount must be repaid to my PPP lender, am I not in essence being required to use my grant to repay a portion of my loan?
Anthony Ricci
46:55
Is the EIDL Advance taxable?
Pierre Ghazal
47:22
You're right, it is overwhelming for a "simplified" form.
Christopher D'Ovidio
47:32
Should I expect an email from my lender to initiate the application process?
Kara Maggiacomo
48:31
Will
Kara Maggiacomo
48:35
A
Kara Maggiacomo
48:58
Will a sale of my business effect a loan in process?
William Piccerelli
50:33
If the calculation for loan forgiveness using only payroll costs, do I still have to submit copies of invoices (telephone, electric, etc.) to the lender?
john chmura
51:30
if i got a eidl advance but no eidl loan how does that affect by loan forgiveness amount?
Christopher D'Ovidio
51:38
Can you send a list of the documentation required for a sole proprietor and a excel template to complete.
Kath Connolly
52:29
What proof of payroll is required for a sole proprietor with no formal payroll system?
Paul Oristaglio
53:22
Please review the documentation required for a Sched C sole proprietor with 2019 Sched C net Income over $100,000 and a loan of $20,833. The Xl file reads "yes" for requiring 2020 payroll reports (H30) and quarterly tax forms (H50-H55) and cell B31 suggests a W-2 is still needed...but of course none exist.
Steve Clouthier
53:28
Why are you referring to the EIDL grant as an advance? When it was offered, it was referred to as a grant.
Adrian Burke
53:48
The Bank is making money on the interest payment for the remaining and the amount now owed for the EIDL Advance?
Adrian Burke
54:42
Does the EIDL Advance get paid back to the bank in a new loan?
Ron Carmark
55:05
How does a sole-proprietor prove his payroll?
Adrian Burke
57:45
Can not use the same overlapping period for PUI and PPP
RAFAEL PACHECO
01:00:38
how can I print this material ?
Adrian Burke
01:07:47
Same question here - if i got a eidl advance but no eidl loan how does that affect by loan forgiveness amount?
Paul Oristaglio
01:08:43
a sole proprietor does not take a deduction for distributions of net income...nor do many have owner salaries... They are eligible for the loan based on Sched C net income of the prior year ...so there are no deductions to worry about not deducting
Carmen Roy
01:09:59
yes separate bank account
Carmen Roy
01:10:57
That’s what I was trying to do for accounting.
Ron Carmark
01:11:11
What documentation does a sole-proprietor need to provide?
Anthony Ricci
01:17:11
The form 3508 expires on 10-31
Anthony Ricci
01:22:51
Not really the same thing. If it's a grant then it's taxable. If It's an advance, it's NOT taxable.
Christopher Izzo
01:23:39
Thank you!
Teri Terrien, SCORE Rhode Island
01:23:59
www.ri.score.org
Steve Clouthier
01:24:01
Thank you!