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Don’t Make this $4,000 mistake

September 25, 2020 by Craig Kaminicki

 

Recently a client came to me to have their PPP Loan Forgiveness Application completed. The client completed the application and the which resulted in them having to payback over $4,000 of their PPP loan. Upon my review of their calculation, I found that they computed their payroll costs using the 56 day eligibility period. Under recent revisions to the PPP program most businesses are eligible for the 168 day eligibility period. With this one change in the calculation, I was able to save the client over $4,000 and the entire PPP loan will now be forgiven. Come see us to have your PPP forgiveness applications completed. Maxwell CPA your small business accounting experts.

 

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