powerpoint presentation new site docs/webinar - ppp loan...date paid date period covered week 1 week...
Post on 26-Jun-2020
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STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
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STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
PPP Schedule A Worksheet, Table 1 Totals
Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: 47,560$
PPP Schedule A Worksheet, Table 2 Totals
Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: 15,384$
Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period
Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: 11,250$
Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: 2,250$
Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: 1,125$
Compensation to Owners
Line 9. Total amount paid to owner-employees/self-employed individual/general partners: -$
Total Payroll Costs
Line 10. Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): 77,569$
Employee's Name
Employee
Identifier Cash Compensation Average FTE
Salary / Hourly Wage
Reduction
Employee #2 xxx-xx-0002 7,200 1.0 -
Employee #3 xxx-xx-0003 8,320 1.0 -
Employee #4 xxx-xx-0004 11,520 1.0 -
Employee #5 xxx-xx-0005 11,520 1.0 -
Employee #6 xxx-xx-0006 2,200 0.5 -
Employee #7 xxx-xx-0007 3,000 0.5 -
Employee #8 xxx-xx-0008 3,800 0.5 -
FTE Reduction Exceptions: 0.0
Totals: 47,560 5.5 -
Box 1 Box 2 Box 3
Employee's Name
Employee
Identifier Cash Compensation Average FTE
Employee #1 xxx-xx-0001 15,384 1.0
Totals: 15,384 1.0
Box 4 Box 5
Employee Gross Pay
Less:
Excess
Wages
Less:
FFCRA
Wages
Allowable
Wages Gross Pay
Less:
Excess
Wages
Less:
FFCRA
Wages
Allowable
Wages Gross Pay
Less:
Excess
Wages
Less:
FFCRA
Wages
Allowable
Wages Gross Pay
Less:
Excess
Wages
Less:
FFCRA
Wages
Allowable
Wages Gross Pay
Less:
Excess
Wages
Less:
FFCRA
Wages
Allowable
Wages
3,846$ 3,846$ 3,846$ 3,846$ 3,846$
Employee #1 4,000 154 - 3,846 4,000 154 - 3,846 4,000 154 - 3,846 4,000 154 - 3,846 16,000 616 - 15,384
Employee #2 2,000 - 2,000 - 2,400 - - 2,400 2,400 - - 2,400 2,400 - - 2,400 9,200 - 2,000 7,200
Employee #3 2,080 - - 2,080 2,080 - - 2,080 2,080 - - 2,080 2,080 - - 2,080 8,320 - - 8,320
Employee #4 2,880 - - 2,880 2,880 - - 2,880 2,880 - - 2,880 2,880 - - 2,880 11,520 - - 11,520
Employee #5 2,880 - - 2,880 2,880 - - 2,880 2,880 - - 2,880 2,880 - - 2,880 11,520 - - 11,520
Employee #6 800 - - 800 600 - - 600 400 - - 400 400 - - 400 2,200 - - 2,200
Employee #7 1,000 - - 1,000 800 - - 800 600 - - 600 600 - - 600 3,000 - - 3,000
Employee #8 1,200 - - 1,200 1,000 - - 1,000 800 - - 800 800 - - 800 3,800 - - 3,800
Subtotals 16,840 154 2,000 14,686 16,640 154 - 16,486 16,040 154 - 15,886 16,040 154 - 15,886 65,560 616 2,000 62,944
Employer Portion of Healthcare Benefit Cost 11,250
Employer Contribution to Retirement Plans 2,250
Employer Portion of State and Local Taxes 1,125
Total Payroll Costs 77,569
Pay Period #1 Pay Period #2 Pay Period #3 Pay Period #4
5/9/20-5/22/20 5/23/20-6/5/20 6/6/20-6/19/20 6/20/20-7/3/20
Totals
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STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
Funder Code PPPL
Covered Period
Alternative Payroll Covered Period
Item Source Doc
Invoice
Date Paid Date Period Covered Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9
Subsequent
Weeks Total
Payroll
Costs
Non-
Payroll
Costs
Salaries Expense Payroll Report 14,686 16,486 15,886 15,886 62,944 62,944
Health Insurance Expense Cash Disbursements 5,625 5,625 11,250 11,250
Retirement Contributions Cash Disbursements 563 563 563 563 2,250 2,250
Payroll Tax Expense Payroll Report 281 281 281 281 1,125 1,125
Rent Expense Cash Disbursements 5,000 5,000 10,000 10,000
Utilities Expense
Water Cash Disbursements 550 550 550 1,650 1,650
Electric Cash Disbursements 1500 1,500 1,400 4,400 4,400
Telephone Cash Disbursements 1,100 1,100 2,200 2,200
Internet Cash Disbursements 1,375 1,375 2,750 2,750
Mortgage Interest Expense Cash Disbursements 3,550 3,550 7,100 7,100
Total Costs Incurred and Paid 2,050 - - 16,650 17,580 - 17,330 - 16,730 35,330 105,669 77,569 28,100
STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
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During 2020, were salaries or wages reduced for any of your employees who were working during the CP or APCP and had avg. annualized salaries of $100k or less during all pay periods in 2019?
Step 1: Was the average rate reduced by more than 25% when comparing the CP or APCP to 1/1/20-3/31/20?
Step 2: Is the Safe Harbor Met, salaries /wages restored before 6/30*?
Step 3. Determine the Salary/Hourly Wage Reduction by Employee details go to Schedule A Worksheet
NO REDUCTION!!!
YES
YES
NO
NO
NO
YES
Step 2A SALARY and WAGE ReductionDefinitionsSubject to a reduction? Do I need to do this calculation? (PAGE 7)
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Average FTEs for Covered Period 6.4
Average FTEs for Covered Period 6.5
Option Picked 6.5 A
Reference Periods:
Average FTEs for 2/15/19-6/30/19 8.5 B
Average FTEs for 1/1/20-2/29/20 7.5 C
* seasonal employers have different rules
Average FTE for Chosen Reference Period 7.5
Ratio Calculation:
A/B 76%
A/C 87%
Option Picked 87%
FTE REDUCTION QUOTIENT (Line 7) 87%
STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
STEP 1: Payroll and Nonpayroll Costs
Line 1. Payroll Costs 77,569$
Line 2. Business Mortgage Interest Payments 7,100$
Line 3. Business Rent or Lease Payments 10,000$
Line 4. Business Utility Payments 11,000$
STEP 2: Adjustments for Full-time Equivalency (FTE) and
Salary/Hourly Wage Reductions
Line 5. Total Salary/Hourly Wage Reduction -$
Line 6. Total Payroll and Nonpayroll Costs less Wage Reduction 105,669$
Line 7. FTE Reduction Quotient 0.87
STEP 3: Potential Forgiveness Amounts
Line 8. Modified Total 91,932$
Line 9. PPP Loan Amount 109,948$
Line 10. Payroll Cost 75% Requirement 103,425$
STEP 4: Forgiveness Amount:
Line 11. Forgiveness Amount 91,932$
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