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CARES Act Breakdown for Individuals & Other Tax Updates - Shared screen with speaker view
Hillary Heath
has the meeting started? I cannot hear the audio
Michael Petri
Yes he started
Hillary Heath
I’ll troubleshoot on my end. Thank you
Michael Petri
Did you get the new meeting id?
Hillary Heath
Frances Jphnson
we will also post on website
Dale Donchey
Can the business owner apply for unemployment if the business is closed?
Ellen Green
What if you’re laid off in 3 months? 6 months? How long will the extended benefits be available?
Frances Jphnson
mike look at your slack
Thomas DeSousa
can an individual collect unemployment if their pay was cut in 1/2?
Dale Donchey
Once we actually receive the PPP loan. Due to the rules of the loan, what happens if an employee would rather take the UI money plus the $600?
Ron Parson
Do you believe there will be more businesses opening up the PPP applications? Should we apply with loan originators that say they are passing on to multiple lenders?
Frances Jphnson
1. My boss receives K1's for his companies (mostly residential construction or investment opportunities ) can he apply for PPP or what is the best route for him?
Frances Jphnson
2. We have heard different answers from several people regarding 1099 employees and PPP loans. My understanding is you can not use 1099 for PPP loans but my boss is hearing you can? I know starting tomorrow independent contractors can apply for their own PPP. To me, its double dipping for the employer to get a loan based on 1099 and for independent contractors also getting the loan. IF you only have 1099 employees, what is the best route to take
Ron Parson
Do s corp business owners that do not have themselves under 1099 and have a few employees have any way to qualify based upon last years 1099 paid to others for loans?
Ron Parson
If you get commissions and dividends from a S corp do receive a 1099?
jason rice
guidelines for individual ppp loans are determined by your bank. wells fargo has theirs up today
jason rice
may have misread it. but that's how i understood it
Darrell Rodgers
if you pay retirement proceeds for year 2019 during the first eight weeks of the note will those amounts be forgiven