Automotive Dealership response to COVID-19 crisis with Q&A - 3rd Edition - Shared screen with speaker view
Tara - MODERATOR
Please be advised that we are welcoming questions during and after the webinar. If you have a question, please utilize the chat feature in zoom . You can either send your question to the Group Chat or choose to send me your question privately. We will address specific questions to the content covered during the presentation, and hold general questions until the end.
Do you have worksheets we can start using
On the tax return how will the Tax Forgiveness be reported?
When would you expect to have clarity on Floor Plan Interest “coverage”?
How is the employee count for the 8 week period calculated? If I average 50% of my headcount for the first 7 weeks and then was at 90% in week 8, what % do I use?
Does the employer portion of FICA count as an payroll expense for this program?
In regard to the 25% “coverage” for Mortgage interest, utilities, rent is that a percentage of the PPP used or is it stand alone of the amount funded in the loan?
Clarity issue: If you come up short of the 75% for payroll do you loose all of the forgiveness or just some portion of the loan is clawed back