@LauraG The loan forgiveness application is vague in this regard, but our interpretation is that the costs must be incurred during the Covered or Alternative Covered period.
Without clear guidance it's hard to say, but workers comp and other insurance premiums are not noted anywhere in the PPP loan forgiveness form or in the interim rules.
For non-cash eligible payroll costs, the only allowable expenses are healthcare premiums, retirement benefits, and state/local taxes.
Nonpayroll costs are mortgage interest, rent and utilities. As you note, the definition of transportation utilities is quite vague. The vehicle insurance issue is a good question, but to be on the safe side, I would encourage you to not claim any of those expenses.
Tough one, since this is not explicitly called out in the rules or form. I would this situation is one in which the benefit of the doubt of the Act’s or Rule’s silence on the question is to be given to the employer who acts in good faith. Are you using the PPP funding to pay this employee even if they are out sick? If so, I'd say you would be in the clear.
@jawhite62 It is the date that you received the loan from your lender.
Hello, forgivable payroll expenses include your healthcare premiums as well as state and local payroll taxes (but not federal). Nonpayroll expenses are: 1) mortgage interest, 2) rent and 3) utilities.
I do not believe the computer program would be covered under either.
Yes, IRA contributions are a covered payroll expense. See Line 7 of Schedule A of the forgiveness form: https://home.treasury.gov/system/files/136/3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf
And yes, you now have 24 weeks from loan origination to spend the funds. We're still awaiting updated forms/guidance.
@jawhite Gross wages, as well as your payments for health insurance premiums, retirement contributions and state and local taxes. Instructions are here: https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Form-EZ-Instructions.pdf
@jawhite62 Yes, owner's reasonable salary is an eligible expense
@jawhite62 Yes. The forgiveness forms allow for forgiveness on real or personal property, so long as the lease was in force before Feb. 15, 2020.
A couple of law firm partners we have worked with include Morrison & Forester and Cooley. You can also check out Start Small Think Big, which sets income-eligible small business owners up with one-on-one counseling for free with a number of different firms. You can apply to work with SSTB here: https://www.startsmallthinkbig.org/become-a-client