Affix Subsidize Form Gratis

hey guys and welcome back to my channel we're passionate about helping people with business and accounting in today's video we are gonna go over the new PPP easy application so if you're interested keep on watching before we get into the application let's quickly run down all of the changes that have occurred the first major change was we're going from an 8-week covered period to a 24 week covered period that's gonna allow a lot of individuals to be able to get most of their expenses in that 24 week covered period the next major change was only sixty percent of the loan needs to be allocated to payroll costs that's changing from 75 percent the next major changes owner employee compensation owner employees are now capped at twenty thousand eight hundred and thirty three dollars now the SBA has provided a checklist for you in case you're wondering if you should file the EZ application or the long form application so let's head over to the computer and check out what you need to know in order to file the EZ application so to follow the easy application the borrower needs to be a self-employed individual independent contractor or a sole proprietor who had no employees at the time of the PPP application and did not include any employee salaries in the computation of average monthly payroll in the borrower application form SBA form two four eight three the next one is the borrower did not reduce annual salary or hourly wages of any employee by more than 25 percent during the covered period or the alternate period compared to the period between January 1st and March 31st 2020 and the bar did not reduce the number of employees or average paid hours of employees between Jan 1st and the end of the covered period the borrower did not reduce annual salaries or hourly wages of any employee by more than 25 percent during the covered period or alternate cover period compared to the period between Jan 1st and March 31st 2020 and the borrower was unable to operate during the covered period at the same level of business activity as before February 15 2020 so if you can check mark at least one of those three boxes then you can apply for forgiveness using the easi application all right so now let's pull up this application and compare it to our spreadsheet that we created in the first video that I did I have made a few adjustments to this spreadsheet to account for some of the changes that took place since the original application so I kept our loan period the same 5 1 hour covered period has changed dramatically so now our covered period is a hundred and sixty-eight days the PPP loan amount stayed the same $2,500 and the advance is $1,000 so for this individual who used their Schedule C line 31 they made $12,000 so I have a little comment here on the spreadsheet if you made more than a hundred thousand dollars the max you can add to line one is twenty thousand eight hundred and thirty three dollars so owner employee compensation is capped at twenty thousand 833 or...