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@bingo No. The loan amount has nothing to do with Rent, Lease, Mortgage interest, or Utilities.. However, you can use the funds to pay those business expenses. Keep in mind to meet the standard for PPP loan forgiveness at least 75% of the funds shall be used for Payroll expenses during the...

@gregorydens Hard to know without further clarification from SBA and Treasury Dept. It seems that once funds are dispersed then within 8 weeks the money must be spent on allowable Payroll Expenses, during that time. So to your point and question, I think a pro-rata amount of 2019 (i.e. prior...

@sunrise88 I think FUTA is allowable for businesses with continuous operations in 2019 through present, however, after Feb 15 2020 that cost must be removed. My payroll company back out those costs in their report after Feb 15 for the calculation.

I've started to make a list of things I've learned about the peculiarities of an S-Corp filing for the PPP loan. An S-Corp's single owner or majority owner may have a different situation than LLCs or other small business owners. INCLUSIONS: W2 reported income Retirement benefits: 401(k)...