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PPP & EIDL Loan Update - Shared screen with speaker view
Pat Thompson
33:17
Originally, SBAS allowed an S corporation shareholder to add health insurance and retirement plan contributions to the amount to be forgiven. The instructions on the loan forgiveness application indicates business owners can not add health insurance and retirement plan contributions because it is already in the wages. These amounts are not in wages during the year. The health insurance is added to the wages at the end of the year. Should we discuss this with SBA?
MacHome
37:25
Can we apply a second time?
Margaret Levin
45:57
I applied for EIDL at the very beginning online, I do not have a copy of that application (just a large number was given at that time that I did a screen shot of) so I cannot see what I filled out. I was told in a letter that I was denied, but somehow I am still eligible for the first 10,000 that they were offering?
Talgat Shokanov
52:51
Submitted the EIDL loan reconsideration request mor than one month ago. To date heard nothing back from SBA and no way to check the status on this request. What is current EIDL reconsideration review timeline?
Eileen Casella Rider
55:14
Is there any danger in waiting to file our forgiveness to see if congress makes changes?
Ronda Sciolto
01:00:12
My EIDL loan was denied. I only received an email with no explanation. Can I reapply if I id not received a letter with explanation?
Steven Brannigan
01:00:27
Has SBA clarified whether or not capped wages (100k plus) are increased for PPP loans that go beyond 8 weeks?
Christopher D'Ovidio
01:02:18
I received an EIDL. Can I use it to pay taxes? If yes, can I use it to pay 2018 taxes, 2019 taxes and 2020 taxes
John Daniels
01:06:58
How can I go about retrieving copies of my EIDL documents. I have tried to log onto SBA at several links and cannot create a profile or login with application # data. Very frustrating; but I assume that volume at SBA might be part of my problem but shouldn’t be (I don’t think).
Teri Terrien - SCORE Rhode Island
01:08:41
For mentoring from a SCORE certified mentor please visit www.ri.score.org
Margaret Levin
01:09:06
Where can you get a copy of the initial EIDL application? It was the one that you put in for both the $10,000 advance and actual loan itself?
Christopher Brook
01:10:31
Can you use this to State and IRS payroll taxes as part of the "payroll" forgiveness?
John Daniels
01:11:29
Have been approved
John Daniels
01:11:33
and received
Kathleen Finn
01:11:45
sorry I came late... have you talked about PPP yet?
John Daniels
01:12:19
thank you
Margaret Levin
01:12:55
I have not been approved.
Eileen Casella Rider
01:13:29
Did you answer this? Is there any danger in waiting to file our forgiveness to see if congress makes changes?
Margaret Levin
01:14:24
Thanks I have my confirmation number
Sarah Glover
01:16:38
I was able to go back into the portal after completing the loan. I went under PDF & it sent the info to my ibook. Then I printed total form from ibooks.
Owner
01:16:47
Are the expenses paid for with forgiven PPP proceeds still deductible on a company's taxes?
Anthony Ricci
01:17:52
Do you think for PPP loans greater than 150K, say 155K the business owner can repay 5K and the use the quick approval process?
Kathleen Finn
01:20:31
did you cover ppp forgiveness for seasonal employees?
Pat Thompson
01:24:48
Since IRS disallowed the expenses paid from a PPP loan that is forgiven what does a 6/30/20 year end taxpayer do with the expense disallowance? The loan has not been forgiven but is expected to in the next fiscal year.
Brian
01:27:27
A number of clients seeking to sell their business have been told by their banks that they must obtain forgiveness or repay their PPP loans prior to closing. The timing is not ideal given the time it takes to receive forgiveness. Any thoughts on solutions for sellers with PPP loans?
Christopher Brook
01:29:19
Is the Payroll tax from IRA and the State something we can use the PPP loan to pay and get forgiveness on?
Teri Terrien - SCORE Rhode Island
01:30:47
Thank you everyone. If we didn’t get a chance to answer your question, please visit www.ri.score.gov and click on request a mentor.