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COVID-19 Legal Update - Shared screen with speaker view
Daniel Noorthoek
02:05:51
Do you have any information as it pertains to the EIDL loans?
ken
02:07:13
Will the loan forgiveness trigger a tax burden when forgiven
C.J.’s iPhone 11
02:07:25
Can I reduce pay equal to what they would receive for unemployment and still receive the grant?
IAlvarez
02:08:06
Is the Florida Bridge Loan considered an EIDL Loan or is it a separate loan?
T
02:09:37
What about an associate that I am keeping on-call? Is there a certain amount I can or cannot reduce their salary if they normally make a daily rate over 100k annually?
C.J.’s iPhone 11
02:09:46
the issue is the loan only covers payroll. we, of course, have other overhead.
C.J.’s iPhone 11
02:10:05
it does answer it.
Wayne DeLucia
02:11:04
If employee was not employed last year during this time how will that affect forgiveness
Daniel Noorthoek
02:11:51
I heard this morning on a separate call that as it pertains to loan forgiveness: 75% of the loan must be used for payroll and the remaining 25% can be applied to other overhead. Is this true?
Wayne DeLucia
02:15:04
what if part of employees return but not all how will that affect forgiveness
Ashwin
02:16:23
Is the PPP loan requires to start paying salaries from April 1st or after we receive the loan?
IAlvarez
02:19:16
Can you pay the employees for back pay once one receives the PPP funds
Wayne DeLucia
02:21:28
if salaries of remaining employees do not add up to last years can you increase remaining salaries
Ashwin
02:21:53
I believe forgiveness period starts only after April 1st
C.J.’s iPhone 11
02:21:55
the north east district really appreciates y’all taking the time to do this for us.
IAlvarez
02:22:37
The EIDL application mentioned that $10,000 would be forwarded. Do you know if that will be deposited directly to one's account or will it be mailed by check. Any word on turn around? Curious if you have heard of anyone receiving it.
jodi
02:22:43
Any idea of the time it takes to from loan application, approval and funding?
Wayne DeLucia
02:22:50
what is best way to get max
Wayne DeLucia
02:25:05
is it better to wait till we can go back to work to apply
Wayne DeLucia
02:27:06
but employees are on unemployment and due not have income coming in to support practice till gov opens us up
C.J.’s iPhone 11
02:30:42
how do we contact you if we need your help
Ashwin
02:31:11
Thank you for your time and excellent information. Really appreciate it