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Quick PPP question
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Reality speaks
Posted 1/13/2021 18:18 (#8748717 - in reply to #8748208)
Subject: RE: Quick PPP question

Your eligible is based on two items. The gross farm income up to $100,000 * .208 or $20,800. You can also qualify based upon the wages paid Its the monthly average (either 2019 or 2020 your choice) times 2.5, So if the kids are paid 12,000 or 1,000 per month that would work out to $2500 in addition to the amount from your gross income. in my example its $20,800+$2500 or 23,300, Spend the money on Labor, Rents,, Interest, Utilities and its all forgiven. Hope this helps.
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