Hi @Azshuttleselect! Great news for you but obviously confusing as to how to proceed. Thanks for coming back and giving us an update. Hopefully other community members may have had some experience with this and can add some thoughts. Keep us posted on how it goes and what you learn. Take care!
Thank you for including all of that information @Azshuttleselect. Additionally I am happy to see the money is getting to where it is supposed to. I have some clients that received funds and yes the PPP loan means that 75% has to be used to pay staff.
One thing I would caution business owners to be aware of is timing. These funds are taking some time to get into the hands of small business owners. Sadly some employees cannot not wait on government business funds to come through from their employer. I caution on providing pay (even back pay) to any employee who may have already requested, is receiving or may receive unemployment from their local government.
I do not want anyone to get into tax trouble and with funds coming from many directions it can be easy to lose track. When you spend any of your government loan money please keep records. Also take note that funds from unemployment can be taxed. This will truly be a interesting year for taxes.
roy darling *my posts seem a lot shorter in my head