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Thanks for the content. Could you please specify what type of supportive documentation is needed to provide? Are the Income statements and the balance sheets sufficient to provide with the questionnair? Thanks!
Hi Farzona. Thank you for your question! The SBA doesn't specify what supporting documentation they will need, but if we base it off past SBA requirements then financial statements typically suffice in disclosing gross revenue. Where liquidity verification is required, copies of account statements are typically acceptable. Contact an Anders advisor to discuss your PPP loan: anderscpa.com/contact.
So if EIDL is a grant of $10,000 how come it is only $1,000 for a sole owner S-Corp -- So I am way way short. When is balance of $10K going to be disbursed? Do I need to re-apply for the balance?
Great channel! thank you for all information > Question how can I get my loan completely forgiven? I am a s corp and i was given a PPP loan. I have no employees.so i just claimed 1 as my self calculating my monthly income ...... Do I pay myself as as the 1 employee 75% of the loan and use the 25% to pay other utilities i use for work like cell phone . car etc..? Also as i don't run a payroll can as i just claimed my income in loan can i just cut myself a company check as payroll without any tax deductions? and if yes and it e weekly ? bi weekly? monthly? or all at once ? for my loan completely to be forgiven? advise and thank you
