If you were to start now, wouldn’t the wages paid from the PPP be tax deductible

Apr 4, 2020
9:17:31pm

cugathrt Walk-on

for 2020 whereas unemployement checks to staff won't. Tax wise, wouldn't it make more sense to take the PPP right away (assuming the the stay-at-him order ends soon and we're able to get back to work)?

Report problem with this ad

cugathrt

Bio page: cugathrt
Joined: Nov 22, 2012
Last login: Apr 26, 2024
Total posts: 68 (0 FO)

Report problem with this ad

Messages

Author

Time

When to apply for the PPP loan

jes2332

4/4/20 8:53pm

I have the same situation and same question.

orangepitbull

4/4/20 8:56pm

Yeah I spoke with the bank today as well

jes2332

4/4/20 9:00pm

What you are proposing is contrary to the intent of the $$$

Plato

4/4/20 9:02pm

That does most businesses no good. They could just be

BLT-Coug

4/4/20 9:05pm

If you have NO money coming in how do you propose paying your employees?

kotacoug

4/4/20 9:27pm

It is my understanding that you can apply now for the loan but

TheSpiker

4/4/20 9:03pm

Link

BLT-Coug

4/4/20 9:04pm

Excellent link. Thank you.

TheSpiker

4/4/20 9:08pm

Very helpful. Thank you.

ORCoug

4/4/20 9:10pm

Awesome, that is what makes sense

jes2332

4/4/20 9:16pm

If you were to start now, wouldn’t the wages paid from the PPP be tax deductible

cugathrt

4/4/20 9:17pm

if you don’t get the forgiveness it is still cheap money.

jkccoug

4/4/20 9:24pm

We applied last night/today, but we’ve kept our people employed.

jkccoug

4/4/20 9:25pm

Apply for it and slow play the documentation. There is some info out there

kotacoug

4/4/20 9:25pm

I have heard that you can get approval

Posting on CougarBoard