Catering boss must read the blue words above
1. What are the loan exemption conditions for the second round of PPP rescue cases?
The main purpose of PPP loans is toKeep Payroll, To pay salaries to employees under their own companies. Payroll spending mustMore than 60% of the total PPP Loan.
2. Can the insurance premiums paid to employees be included in payroll expenses?
employee'sinsurance fee.Medical expenses.DentistAndVision Insurance…And other employee-related items can be included in Payroll's expenses.
3. In which projects can the remaining 40% of the loan be used to qualify for the exemption?
a. Can be used to pay loan interest, rent, utilities, etc.Normal operating expenses
b. It can also be used to pay for additional purchases due to the epidemicProtection,Disinfection equipmentWait
c. Need to buy in the catering industryRaw material cost
d. Due to encounters in 2020Damage caused by external force(E.g. smashed windows, etc.)
4. How to calculate "Average Monthly Salary Cost"?
a. Most employeesbe usable2019 year or 2020 yearsAverage monthly salary
b. forseasonFestival industry，可选择改为使用雇员在2019年2月15日至2020年2月15日的任何『十二周期间』的平均月工资总额
c. After February 2020, 2New business just started, The average monthly salary can be calculated based on the number of months in which salary costs have been incurred
* The above does not include employees with an annual salary of more than 10 yuan
5. Is the amount subsidy received from the loan counted as income and needs to be taxed?
Similar to the first round of PPP, as long as the loan is used for the specified items, it is not counted as income.No taxof.In addition, another preferential provision of this round of loans is that the use of PPP to pay employee salaries, operating expenses and other purposes, this part can alsoTax deduction.
In addition, the amount of exemption from the first round of PPP loans cannot be included in the total income.
6. The restaurant's income in 2020 is better than that in 2019. Is there a chance to successfully apply for the second round of PPP?
只要是2020任何一个季度的收入对应2019同季度减少25%以上，就符合申请条件。举例来说，2020 Q2许多商家面临被迫关店等相关大环境影响，只要本季度收入低于2019 Q2的25%以上即可。
On the whole, the detailed rules of the second round of PPP are still more inclined to help small businesses, especially restaurants, in the follow-up application for exemption process has also been simplified to help owners who really need it through the difficulties.
For more information about PPP loans, please read our previous articlesFull analysis of PPP loans.Ask a community bank, Or refer to the website of the Federal Small Business Administration SBA.
https://www.sba.gov/document/sba-form-3508-paycheck-protection-program-loan-forgiveness-application
*Disclaimer: This article strives to ensure that the information provided is accurate, but does not guarantee the accuracy, completeness and timeliness of such information, does not constitute any legal, accounting, tax or other professional advice, and is only for transmission and reference.
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