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- PPP Loan Forgiveness : Salary Reduction Calcs
PPP Loan Forgiveness : Salary Reduction Calcs
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The Aerial Studio
Level 1
01-13-2021
05:23 PM
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We furloughed most of our employees on Feb 16, 2020 when we went into a mandatory lockdown in California.
Then we hired new employees to help us pivot our company and get our whole program online.
Since the people that we hired were new employees (actually a mix of new and returning) I'm confused how to calculate the Salary Reductions for those that we used the PPP funds to payroll. Any suggestions?
thanks
Gregg
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1 Comment 1
qbteachmt
Level 15
01-13-2021
05:55 PM
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Are you preparing income tax forms for your client using Lacerte, ProSeries or ProConnect? Because this is a peer user community of those software packages.
Otherwise, it seems like you might consult with a business financial manager, such as your own CPA would help you.
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