The proceeds of a PPP loan are to be used for the following. Owner compensation replacement, calculated based on 2019 net profit. Employee payroll costs (as defined in the First PPP Interim Final Rule) for employees whose principal place of residence is in the United States, if you have employees. Mortgage interest payments (but not […]
Read More… from How Can PPP Loans Be Used By Individuals With Income From Self-Employment Who File a 2019 Form 1040, Schedule C?