As banks begin allowing borrowers to apply for PPP loan forgiveness, many business owners are rushing to the front of the line to apply. Are you maximizing forgiveness? The rules have changed nearly every two days but the experts at SL are ready to help.
How SingerLewak can help?
- Completing the application for forgiveness
- Reviewing the application for forgiveness
- Helping navigate critical questions:
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- Should we elect the 8- or 24-week period for forgiveness? Whichever period you choose to compute costs you must also use to compute full time equivalent (FTE) employees
- What transportation costs can we use in our computation?
- Does the Alternate Payroll Covered Period increase our forgiveness/ payroll costs?
- Are there any employees that I can exclude from computing any FTE reduction?
- If I am using a 24-week period what is the maximum allowable amount for owner employees and does that include retirement contributions?
Contact David Krajanowski to find out more about how you can maximize your forgiveness.
David Krajanowski, Partner