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PPP

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Update to Final Interim Rule PPP – More changes expected

On May 22, 2020, the SBA released an update on the Final Interim rule with additional changes, with some limitations on the owner compensation to around $15,400 or 8/52 of the 2019 compensation as well as changes to other items. SBA final Interim - https://www.sba.gov/sites/default/files/2020-05/IFR%20Forgivenss%20FINAL.pdf Forbes article - https://www.forbes.com/sites/alangassman/2020/05/23/may-22-ppp-final-interim-rules-provide-further-guidance-and-some-surprises/#7c60df343f12 Note that this week, there might be a

By |2021-01-05T11:37:20+00:00May 26th, 2020|Categories: Business|Tags: , , |
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Everything about PPP loan forgiveness – Presentation SBDC NJCU

On Monday 5/11/2020, Victor Garrido, CPA, EA, had a presentation about PPP forgiveness with Christian Pichardo, NJSBDCA Marketing Director and Ryan Silvestre, NJSBDC Business Consultant thanks to SBDC and NJCU. You can find the presentation and draft Excel PPP forgiveness calculation so you can learn about this topic and maximize the PPP forgiveness. Also, you

By |2021-01-05T11:37:25+00:00May 12th, 2020|Categories: Business|Tags: , , , |
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Second Round of Coronavirus relief and Employee Retention Credit

Second Round of Coronavirus relief The second round of Coronavirus relief funding was approved last Friday, so apply as soon as possible through your preferred financial institution. As you might know, the first round of funding lasted less than two weeks and some of the banks had a relatively small allocation running out of funds in a matter

By |2021-01-05T11:39:17+00:00April 29th, 2020|Categories: Individuals|Tags: , , , |
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PPP for sole proprietors, independent contractors, and self-employed person

The Payroll Protection Program is available to sole proprietors, independent contractors, and self-employed persons, among other entities. There has been some confusion on this topic  and the clarification guidance was released around the same time the first round of PPP money ran out (April 15, 2020). Last Friday (April 23, 2020), there was signed a

By |2021-01-05T11:41:09+00:00April 26th, 2020|Categories: Financial Education|Tags: , , , |
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Second Relief Package – More Funding for PPP

Late April 23, Congress passed a second coronavirus relief package; this $484 billion package includes $310 billion to replenish the Paycheck Protection Program (PPP). You can refer to the initial post in our website for information about the PPP - https://ggcpaservices.com/blog/paycheck-protection-program-ppp-form-information-sheet-payroll-schedule-and-other-relevant-info/ Note that the Guidance on PPP is constantly updated in the SBA site -  Lender

By |2021-01-05T11:42:58+00:00April 26th, 2020|Categories: Business|Tags: |
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PAYCHECK PROTECTION PROGRAM (PPP) – Form, Information Sheet, Payroll Schedule and other relevant info

The Paycheck Protection Program (PPP) is supposed to be rolling out today, even if financial institution are currently asking for additional guidance. Information sheet - PPP Borrower Information Fact Sheet PPP Form - PPP Borrower Application Form updated Payroll Schedule - Payroll Schedule Note that the financial institutions are asking to prepare the following information based on the

By |2021-01-05T11:47:53+00:00April 3rd, 2020|Categories: Business|Tags: |
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