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Quick PPP question
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sand85
Posted 1/13/2021 21:39 (#8749393 - in reply to #8748141)
Subject: I’ll give you an equation


C IL

Good question.  Not a lot of agreement out there.  Language below.  Best interpretive estimates from what I have heard are

{ [Sch F line 9 (gross income) minus Sch F lines 22/23 (payroll costs on Sch F, which may not match 943)] capped at $100K

plus

943 wages (b/c that is accrued wage costs but monthly depositors may pay Dec deposit in following Jan - this was specified last year as proper by SBA) }

all times 2.5/12 

Ithought you had to use 2019 only for first draw with choice of either for second draw but I can’t keepup with the changes. 



Edited by sand85 1/13/2021 21:51




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