PPP Loan Forgiveness Instructions and Applications The U.S. Department of the Treasury provides instructions and applications for forgiveness including SBA Forms 3508, 3508EZ and 3508S. The calculator is based on existing PPP guidance from the Department of Treasury and Small Business Administration (SBA), as well as additional recommendations added by the AICPA. 4/17/2020. 1. We aren’t part of the SBA and clearly aren’t PPP … Salary/Hourly Wage Reduction. Payroll Accumulator, which helps small businesses capture the amount of eligible payroll costs and whether wages on a per employee basis declined in the 8-week covered period. If you run payroll manually, you might create a payroll report in Excel. Schedule A worksheet (p 9) 1. The amount of the loan forgiveness may be reduced based on the percentage of eligible costs attributable to non-payroll costs, any decrease in employee headcount and decreases in salaries or wages per employee. Watch later. The next task for those who submitted loan applications for the Paycheck Protection Program (PPP) will be to determine how much of the loan will be forgiven. HR Consulting, Professional Services 4. Introducing the Excel Spreadsheet for PPP Loan Forgiveness - YouTube. Finally, the Excel sheet implies that the payroll portion of PPP proceeds is limited to 75% of the loan amount as evidenced by the "Remaining" column. Additional information: Emails from the PPP loan & forgiveness portal will come from a UnionBank… Send this bad boy in and … Same thought. PPP Loan Forgiveness Calculation Form Yellow Boxes = Fillable Data Fields Business Legal Name (“Borrower”) DBA or Tradename, if applicable ABC Corp ABC Plumbing Business Address Business TIN (EIN, SSN) Business Phone 123 Main St, Albuquerque, NM 87123 XXXXXXXXXX (505) 123-4567 Primary Contact E-mail Address John Smith email@abc.com SBA PPP Loan Number: https://drive.google.com/file/d/18HJVz9IOiZgiwcZIsC6FqVLKWgSi0uS0/view?usp=sharing. Workbook PPP Loan Forgiveness Calculation Workbook. The American Institute of CPAs (AICPA) has created a loan forgiveness calculator (excel spreadsheet download) for the Paycheck Protection Program (PPP) to help resolve outstanding issues with the process. The AICPA loan forgiveness calculator is divided into three sub-categories: 1. Restaurants & Hospitality self rental) counts for loan forgiveness? Info. Schedule A worksheet (p 4) 5. It’s been an intense couple of weeks. You will owe money when your loan is due if you use the loan amount for anything other than payroll costs, mortgage interest, rent, and utilities payments over the 24 weeks (or for if elected for loans received prior to June 5, 2020, 8 weeks) after getting the loan. Applying for PPP Loan Forgiveness •Forgiveness Forms -11 pages •Separates into five pieces; 1 and 2 must be submitted to Lender: 1. To learn more about engaging us for Business Relief and PPP Loan Forgiveness Support Services, and … This is from a local bank. FTE Reduction Safe Harbor Non-Payroll Costs Tracker, which includes non-payroll expenses such as mortgage payments/rent, utilities, and transportation. The attached template should help – it is intended as a planning tool. HRPro™ HRPlus+™ Now, we have created templates for the 24-week covered period. FAQ PPP Loan Forgiveness User Guide and Forgiveness Checklist. This course will address the changes to the PPP Loan Forgiveness Application as a result of the PPP Flexibility Act. Guides Time & Attendance, Compare Plans Paycheck Protection Program Forgiveness Template. If you are a schedule c claiming rent on a room in your own house you won't get this. FTE (full-time equivalent) Input, which tracks whether or not a business reduced their employee count over the 8-week period; and. DWH staff is available for further support. We have a similar situation and have taken the view that if we have previously deducted those rental expenses then we can claim through forgiveness. Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. PPP Schedule and Worksheet. Remember, accuracy is pivotal when it comes to applying for PPP loan forgiveness. Share. About Emplicity:Since 1995, Emplicity has provided a smarter, more secure, and integrated platform of employer services to its 300 business clients and their 8,500 employees. Recruiting Services The calculator relies on several assumptions contained in the AICPA’s recommendations, such as how to calculate FTEs and the aligning of the 8-week covered period with the beginning of a pay period, rather than the date the PPP loan proceeds were disbursed. It may be easiest to begin by looking for a payroll report template online or within Excel. 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