Posted 7/29/2020 14:18 (#8403100 - in reply to #8402929) Subject: RE: How many farmers got PPP loans?
pilgrim - 7/29/2020 12:26
I don't know if the rules have changed as I haven't looked but you were limited to what your schedule F has for income.so don't expect the full $20,833. As I said above take schedule F income divide by 12 and multiply by 2.5 to find the amount you are eligible for
wouldn't the guy with very little income or even a loss on schedule F be the guy who actually needs the loan? The guy with all the income is getting the "loan" and using it to pay himself through his financial shell entity and can even use it to pay his high cash rents.