6. The SBA has issued the Forgiveness Application and Instructions just in time to allow PPP borrowers to plan to know how much of their loans may be forgiven and what the best strategies are to balance the utility of bringing employees back and against associated costs and forgiveness. 856 0 obj <>/Metadata 70 0 R/ViewerPreferences 881 0 R>> endobj 858 0 obj <>/XObject<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/MediaBox[0 0 720 540]/Contents 859 0 R/Group<>/Tabs/S/StructParents 0/CropBox[ 0 0 720 540]/Rotate 0>> endobj 859 0 obj <>stream Carol K. Post & Schell, P.C. Prepayments are not allowed. Welcome to the PPP Loan Forgiveness Calculation Model User Guide. Many of our small businesses in Northwest Iowa have received a Paycheck Protection Program (PPP) loan. Is there an updated worksheet that is extended to 24 weeks? 1. We are happy to have worked together to create our comprehensive tool for PPP Loan Forgiveness. Schedule A instructions (p 5) 3. 2020-51 provides that if a PPP loan recipient did not deduct expenses on their 2020 tax return and some or all of the loan that they were expecting to be forgiven is not forgiven, they may either deduct the expenses on an amended return for 2020 (or, for a partnership, an AAR) or deduct the expenses on their 2021 tax return. Now, the best way to help clients plan for, understand and report their PPP loans is finally here: the PPP Loan Expense Tracker and Forgiveness Calculator (TM) for CPA's and Other Financial Professionals. We understand how important loan forgiveness is to you and your business and realize that the SBA guidelines and requirements may seem complex. Menu. Step 6: Your PPP Loan forgiveness amount will be LESSER between Options 1, 2 and 3. This loan will remain a payable until either the bank provides a notice of forgiveness … PPP Forgiveness Analysis Spreadsheet. To qualify for forgiveness of your PPP loan, ... Once you have completed the 8-week tracking period, you’ll need to sign your completed Application for Loan Forgiveness tracking spreadsheet, then scan it and send it back to us via Savings Bank of Walpole’s secure file upload portal. The PPP Loan Expense Tracker and Forgiveness Calculator may even be included as an Exhibit to your forgiveness application! PPP Loan Forgiveness Calculations Service The SBA recently released the PPP loan forgiveness application. Major Topics. You will be required to upload a completed spreadsheet into the application tool. QuickBooks Guidance for tracking PPP expenses Paycheck Protection Program Overview. On the following screen, select Apply next to PPP Loan Forgiveness Request . Click here to access the Secure File Upload Portal. That’s why we suggest creating a spreadsheet of all eligible expenses as they’re incurred. points regarding forgiveness is still being issued and some of this information may change. Information about how to apply for Paycheck Protection Program loan forgiveness 199A Tool for Allocating the Deduction to Trust/Estate Beneficiaries? LIMITED TIME BUNDLE INCLUDES 98 Minute Webinar Recording with Kevin Cameron (Creator of the Spreadsheet), Alan Gassman and Brandon Ketron As well, your bank reconciliations could be more complicated until your PPP funds are depleted. Much of the guidance related to forgiveness is unclear at this time; however, we know companies must document qualifying expenses to receive forgiveness. INCLUDES LINK TO ALWAYS UPDATED ALWAYS LATEST VERSION .XLSX FILE PLUS Bonus 60 minute walkthrough video. Rev Proc. To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). �;.$��� d�鄲a�\]�o����0�� �y�6�(����\��%�erE�R���A�C8n�W�+#�*/jx���5 Our PPP Calculator, a powerful but easy to use Excel spreadsheet, accounts for every expense as you allocate your PPP funds, making it simple to determine your forgiveness amount, and report to your own financial institution. Calculating your Forgiveness Amount Form 3508S for PPP Loans Under $50,000 - Excel spreadsheet About the Author(s) Bill Cunningham is a SCORE Rhode Island mentor and workshop instructor, focusing on business models, business planning, and QuickBooks Online. To qualify for forgiveness of your PPP loan, ... Once you have completed the 8-week tracking period, you’ll need to sign your completed Application for Loan Forgiveness tracking spreadsheet, then scan it and send it back to us via Savings Bank of Walpole’s secure file upload portal. PPP Loan Amount Calculators (Excel) Jun 04, 2020. CARES Act - Paycheck Protection Program Loan Forgiveness Spreadsheet. LOCKED. The one from 04/2020 is form AALRR. Independent Contractor Analysis. CLICK HERE. Line 2: Business Mortgage Interest Payments. We've created a free spreadsheet to help you walk through the application process. June 26, 2020 A business, at its election, has either eight weeks or twenty-four weeks to spend the total PPP loan proceeds on payroll costs, mortgage interest, rent, and utilities and only those costs which are well documented will be eligible for forgiveness. Select Initiate Forgiveness On This Loan for the loan you would like to request forgiveness. The rules around forgiveness of PPP loans are changing. THANK YOU!! PPP loan accounting. We will continue to update the tool as needed to address … PPP Loan Forgiveness User Guide. This topic and related workbook have been updated in a … x�c```b``������f� Ā B@1V ��� B��+���\ ��ͣz��Q��+��ݷ�BLY��ԭ|�Ɇ��j�D���`��e�6;��V��� �6l�� i^ �~� �p��JxǕ4�B�nK���q�k��޲.�a�`v��J�;�B��? If a section doesn't apply to an employer, it won't display in the report. Convenient and simple spreadsheet to track and allocate expenses between payroll and non payroll costs. Please read the instructions in the worksheet which indicate how to use the resources as intended. 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. Sample PPP Application. May 7, 2020 COVID-19. Schedule A worksheet (p 9) 1. Application instructions (pp 1 & 2) 2. To download SBA.com®’s Loan Forgiveness Calculator, you will need Microsoft Excel or similar spreadsheet program that is able to open .XLSX files. Borrowers should work with their lenders to determine the forgivable amount of their loan. Info About Acuity: We support companies that have 5-50 employees to supplement or … April 14, 2020. Now that you’ve been approved for your loan under the Paycheck Protection Program (PPP) and funds are being disbursed, it is now time to transition from getting your PPP loan amount to maximizing PPP loan forgiveness. D$)с�F#�U�|��E�����4!��mFK���'i�)M�����1.�SG��X`�����r�d�㺲0l� ֖�BCy@�k �‚B��Ϗ� Remember, accuracy is pivotal when it comes to applying for PPP loan forgiveness. Filled in amounts are for illustation purposes … Kevin's excellent explanation of the spreadsheet, and PPP loan proceeds use and forgiveness rules, using the spreadsheet as a line by line accountability, client education and tracking tool. Our PPP Calculator, a powerful but easy to use Excel spreadsheet, accounts for every expense as you allocate your PPP funds, making it simple to determine your forgiveness amount, and report to your own financial institution. We have updated the PPP Loan Forgiveness calculator. Related Posts. Excel Spreadsheet Template for tracking PPP expenses 2. General resources. ��Y�xt�����|���O��Ƣ�N4��b��|�0Y+��*^��^����j�ĸ� DWH staff is available for further support. Finishing Page 3: PPP Loan Forgiveness Calculation Form Line 1: Payroll Costs. Additionally, the PPP Loan Forgiveness Calculator enables a borrower to quantify this three-step process to analyze under what conditions such a loan can be forgiven and for what amount. Not more than 40% of the forgiven amount may be for non-payroll costs. PPP Loan Forgiveness Instructions and Applications The U.S. Department of the Treasury provides instructions and applications for forgiveness … For use by Union Bank only. Additional documentation may be required. Tracking expenses is an important part of maximizing PPP loan forgiveness. 871 0 obj <]>>stream To track fund utilization using a spreadsheet, enter your loan proceeds balance and subtract each qualifying disbursement. Schedule A (p 6) 1. One of the key provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act — which created the Paycheck Protection Program (PPP) loan — is the opportunity to have most, if not all, of the loan forgiven. Impact of Qualified Retirement Plan Deduction on IRC 199A Deduction, How to Input the Data for Up to 5 Pass-Thrus To Calculate the 199A Deduction, How to Input the Data for Farmer 199A(g) Deduction, The Section 199A (and 1202) Handbook: Alan Gassman, Brandon Ketron, Martin Shenkman, Jonathan Blattmachr, CHUCK RUBIN ON FLORIDA HOMESTEAD - A COMPREHENSIVE TREATISE ON ALL ASPECTS OF FLORIDA HOMESTEAD LAW, Bob Keebler's Top 40 Tax Planning Opportunities For 2020 E-Book, The Estate Planner's IRA/Pension Planning Guide by Alan S. Gassman, Christopher J. Denicolo, Edwin P. Morrow, and Brandon Ketron, What Estate Planners (and Others) Need to Know About Bankruptcy by Alan Gassman, Alberto Gomez, Michael Markham and Adriana Choi, Alan Gassman & Brandon Ketron: The 199A - 2019 (6) SixPack Program, Alan Gassman & Team: The Fabulous Florida Planning (12) Twelve Pack 2019 Program, Bob Keeblers Top Ten Estate Planning Topics, Paul Hood: 8 Part: Breakfast and Buy-Sell Agreements, Bob Keeblers Customizable Power Point That Advisors Can Use. Should a Schedule C Business Owner Switch to S Corporation Status and Pay Themselves a Salary To Claim a 199A Deduction? Your PPP loan forgiveness amount may be reduced if you cut employee pay by more than 25% or if you reduced the number of FTEs. Employee compensation of less than or equal to $n,nnn for the nn week period. The attached template should help – it is intended as a planning tool. An excel spreadsheet will be provided to assist in all of the necessary calculations. Step-by-step guide to maximizing PPP loan forgiveness for self-employed and other Schedule C filers. Now we are electing to recover 24 weeks' of expenses vs. 8 weeks'. PPP loan forgiveness calculators (Excel) Nov 16, 2020. If your organization did not furlough any employees or reduce hours worked by employees, you do not have to worry about the FTE reduction. 855 0 obj <> endobj Update as of June 8, 2020: Based on the PPP Flexibility Act, signed by the President on June 5, 2020, we have updated our spreadsheet to account for some of the changes made in this act, which we summarized in a prior advisory. They will see all of their PPP loans listed. By Tommy Greer. In addition to the spreadsheet template, we have created a video that will help you walk through the PPP forgiveness calculation process and our Calculator. Thank you for working with Savings Bank of Walpole. This is crucial to obtaining maximum forgiveness of your PPP loan. Multiply the amount of the loan which qualifies for forgiveness by the following fraction: 3. The QB P&L will not show regular spending vs. PPP spending, so keep a separate spreadsheet to track the PPP spending. Oh my gosh thank you so much and please thank Kevin. This document provides step-by-step instructions for navigating the Loan Forgiveness . So, if you have a full-time employee who makes an annual salary of $150,000, only $100,000 of that total salary is eligible for PPP loan forgiveness. Information on document cited from the PPP Loan Forgiveness Application Form 3508EZ. The next task for those who submitted loan applications for the Paycheck Protection Program (PPP) will be to determine how much of the loan will be forgiven. Download the PPP Loan Forgiveness Calculator here. x��T[k�0~7�?�G�P�]-(��iK�l5�a�!�͖ěV��w����: %6$K络��hW�ɸ\���~� PPP Forgiveness Application and Attestation (pp 3 & 4) 1. See how the 75% test and the reduction of employees limitation actually work as numbers are put on the spreadsheet and changed. 5. COVID-19 Paycheck Protection Program. 2. The easiest way to fill out the Schedule A is to break it up into three sections, which we’ll cover. We have a worksheet for PPP Loan Forgiveness back from April 2020. PPP LOAN FORGIVENESS APPLICATION AND THE ONGOING QUEST FOR CLARITY May 18, 2020. Automatic calculations to apply the limitation that non-payroll costs cannot exceed 25% of the Forgiveness Amount. Skip to main content. PPP forgiveness calculator – Prior version (5/22/20 – 6/17/20) – Excel. From Schedule A, line 10. Inputs for wages paid and hours worked for each employee designed to match data and information needed to complete PPP Schedule A worksheets. How medical practice and business Relief Payment money interact with PPP funds. x�cd```d`� $�� � @��Hp,��@��T �y#c�- ��/������I� D������(�:�L�i`�D0�f�"XA�` � �� Private and confidential. Download your free PPP Loan Forgiveness Spreadsheet for forgiveness amount calculation, PPP schedule and worksheet, and more to help you apply. Share. This is all such a mess, but your spreadsheet is making it so much easier - will make me look so much smarter. 3. 2. Any qualified borrower of a PPP loan of $50,000 or less may use SBA Form 3508S to apply for loan forgiveness and be exempted from any reductions in their loan forgiveness amount based on reductions in full-time equivalent (FTE) employees or reductions in employee salary or wages. To properly account for the PPP loan, we suggest creating a “PPP Loan Payable” account on your trial balance to record the liability you assume upon receipt of your loan proceeds. Webinar will go live at 2pm EST and will be available for replay. Salary/wage reduction. The loan forgiveness calculators use available guidance from the Small Business Administration (SBA) and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. Utilize a master excel spreadsheet, tracking weekly uses of PPP loan proceeds, which summarizes all forgivable expenses which sums to the grand total you’ll be applying for at the end of the covered period. PPP Loan Uses & Forgiveness: A Guide to Track Expenditures. 3. If you run payroll manually, you might create a payroll report in Excel. Review the PPP Forgiveness Application Form; Review the EZ Application Form; Interim Final Rules Overview. Discussion of what is now meant by the terms "incurred and paid" and proration calculations and strategies associated therewith. %PDF-1.7 %���� Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. To download SBA.com®’s Loan Forgiveness Calculator, you will need Microsoft Excel or similar spreadsheet program that is able to open .XLSX files. How to fill out the Schedule A Worksheet using OnPay's PPP Loan Forgiveness Report Jacob Thomas Follow. 6. Review the PPP Forgiveness Application Form; Review the EZ Application Form; Interim Final Rules Creating a PPP payroll report in Excel. This course will address the changes to the PPP Loan Forgiveness Application as a result of the PPP Flexibility Act. endstream endobj by VW May 7, 2020 0 comments. Download your free PPP Loan Forgiveness Spreadsheet for forgiveness amount calculation, PPP schedule and worksheet, and more to help you apply. PPP Spreadsheet. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Thanks again. www.postschell.com Introduction • Post & Schell, PC’s Loan Forgiveness Tool is comprised of eight excel tabs: Forgiveness PPP Schedule A PPP Worksheet Table 1 PPP Worksheet Table 2 PPP Salary Reduction Step 1 PPP Salary Reduction Step 2 PPP Salary Reduction Step 3 Employee Worksheet • Highlighted cells on worksheets are to be completed by The certification documentation provided in the worksheets above allows you to document how and why the PPP loan funds were considered necessary for your company. PPP Loan Forgiveness Calculation Form. Webinar Topics covered will include the following: 1. Additionally, we are now offering PPP loan forgiveness calculations as a service for a flat fee of just 2% of the loan amount. Tentative Loan Forgiveness c) b) MAXIMUM LOAN AMOUNT [Lesser of a) or $10 million] TOTAL LOAN FORGIVENESS [lesser of b) or c) above] BALANCE OF LOAN NOT FORGIVEN (if any) d) Represents the maximum amount a qualifed borrower may have forgiven. At the end of the day, you have to show the bank you used the loan for eligible expenses. Automatic calculations for reduction in loan forgiveness based on number of Full Time Equivalent Employees and certain salary reductions, including inputs to account for safe harbors and other de minimis exceptions to the above limitations. 241.1 KB Download. That’s why we’ve created an easy-to-use excel workbook that will help you itemize and calculate the inputs required for your PPP Loan Forgiveness application. #1 PPP Loan Forgiveness Application (.pdf) #2 PPP Loan Forgiveness Tracking Template (.xls) #3 PPP Loan Forgiveness Video Update (.mp4) As we shared with you on Saturday, the SBA issued the Loan Forgiveness Application on May 15th that will be used by PPP borrowers to determine and report how much of their PPP loan will be forgiven. Use our PPP Loan Forgiveness Estimator to determine how much of your loan might be forgiven, and check out the FAQs below for additional information. 322.6 KB. Home / COVID-19 / PPP Forgiveness Analysis Spreadsheet. CALCULATING, PLANNING AND DOCUMENTING LOAN FORGIVENESS UNDER THE PPP. Thank You,-----Cathé Young Bachelor of Science Controller Soltek Pacific San Diego CA It may be easiest to begin by looking for a payroll report template online or within Excel. We will cover: Form 3508S - PPP Loan forgiveness for $50,000 loans or less; Form 3508EZ - PPP Loan forgiveness for Self-Employed and Partnerships without Employees Reduction in Headcount. 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 PPP Loan Expense Tracker and Forgiveness Calculator references and tracks the line numbers of the PPP Forgiveness Application and operates in accordance with the SBA guidance and can be used along side the PPP Forgiveness Application for quick and efficient organization of financial data, documentation, calculation and summarization of each major aspect of the PPP loan. See how the 75% test and the reduction of employees limitation actually work as numbers are put on the spreadsheet … It is designed to take the guesswork out of tracking which expenses count toward your PPP loan forgiveness. PPP loan application resources. Member FDIC. This spreadsheet is provided as an educational tool to assist potential borrowers of a PPP loan in generally understanding the mechanism by which their loan may be forgiven in whole or in part but should not be relied upon as the final determination of such forgiveness amount. Manual Spreadsheet. The workbook is broken out into multiple tabs that you will have to click through to complete. 1. Ability to track whether supporting documents required to be submitted with the application have been provided. after clicking the Buy Now button below. Amanda. Upcoming Webinar focused on PPP Forgiveness based on most guidelines will go live on February 21st, 2021. PPP Loan Forgiveness Spreadsheet. Calculating your Forgiveness Amount Form 3508S for PPP Loans Under $50,000 - Excel spreadsheet About the Author(s) Bill Cunningham is a SCORE Rhode Island mentor and workshop instructor, focusing on business models, business planning, and QuickBooks Online. PPP loan forgiveness application breakdown. COVID-19 Meeting Protocols Next Post. 0. Post & Schell, P.C. One of the key provisions of the PPP is the opportunity to have up to the entire loan amount forgiven. PPP Loan Forgiveness Calculation Form Coronavirus (COVID-19): Relief options and Additional Resources. Read More. You will need this data to figure out the maximum amount you can apply to borrow under the PPP (2.5 times your average monthly payroll cost). 4. The PPP Loan Expense Tracker and Forgiveness Calculator provides the following functionality: 1. !��1pM���/�"� ��D The PPP Payment Spreadsheet developed by Kevin will be discussed and provided as an Excel document for all attendees, along with discussion of calculations and safe harbors that are consistent with the new Forgiveness Application and Instructions. This easy-to-use tool lets you maximize your billable time while assuring proper explanation and calculations to help staff members and sophisticated clients run numbers and provide illustrations. If you are not a LISI member please use the Buy Now Button below to pay the non-member price of $179. Since our original release, the workbook has been downloaded more than 46,000 times. The AICPA’s PPP Loan Forgiveness Calculator (a downloadable Excel template) ... A downloadable one-page CNPE Excel worksheet to help you collect and organize your payroll data. Applying for PPP Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces; 1 and 2 must be submitted to Lender: 1. Also Included within this document is . (PPP Loan Forgiveness Calculator will be updated as further guidance is issued by the SBA, so check back for updates – current version follows the format of SBA Form 3508 – Loan Forgiveness Application) Forgiveness FAQ’s and Documentation Requirements This topic and related workbook have been updated in a current post here as of 8/18/2020. Thank you so much for looking at this! 857 0 obj <>stream 's Paycheck Protection Program Loan Forgiveness Tool. NOTE: Yellow highlighted cells represent variables that should be completed with final client data. The information coming in from your firm is Gold compared to what I have seen from others. If you are a LISI member, please login below to receive the member price of $159. 5. This course will address the changes to the PPP Loan Forgiveness Application as a result of the PPP Flexibility Act. Paycheck Protection Program Forgiveness Template. PPP Forgiveness Analysis Spreadsheet. If you’re ready to start: Download a blank version of SBA.com®’s Loan Forgiveness Calculator here. PPP Loan Forgiveness Services Matrix (PDF) Matrix to help the CPA determine which service is appropriate to provide for PPP loan forgiveness. 3. 322.6 KB Download. Testimonials from previous presentations with Kevin's Spreadsheet are as follows: NOTE: To pay using a credit card, use the botton labeled The PPP Loan Forgiveness Worksheet includes sections that correlate to those on the loan forgiveness application. 0. Additional guidance issued by the SBA and Treasury Department after that time may materially impact the loan forgiveness calculations. What comes first or second or must be repaid? CARES Act - Paycheck Protection Program Loan Forgiveness Spreadsheet. endstream endobj NEW PPP LOAN EXPENSE TRACKER AND FORGIVENESS CALCULATOR OFFERED EXCLUSIVELY BY LISI with INSTANT DELIVERY. Here is a sample which shows the example of $57,000 in PPP funds received, and $33,748.92 spent-to-date. ©2020 Byline Bank. The SBA published additional FAQs on Aug. 4, … ... download detailed Instructions for the form and an excel spreadsheet to help with your calculations. Because of the complexity of the PPP forgiveness calculations, the spreadsheet will be a constant source of updates, revisions and improvements. The SBA recently released the PPP loan forgiveness application. Kevin's excellent explanation of the spreadsheet, and PPP loan proceeds use and forgiveness rules, using the spreadsheet as a line by line accountability, client education and tracking tool. It has been prepared using the CARES Act, the SBAs Paycheck Protection Program Loan Forgiveness Application, the PPP Flexibility Act of 2020, as well as any other relevant guidance available as of July 7, 2020. The PPP Loan Expense Tracker and Forgiveness Calculator allows you to input expenses and payroll costs data for the 8 week period and automatically populates forgiveness calculations for both the 8 week Covered Period and the Alternate Payroll Covered Period so you can determine which period should be used to maximize loan forgiveness. 2 ) 2 count toward your PPP loan forgiveness accuracy is pivotal when it comes to for. To employees above that rate is ineligible for loan forgiveness because of the provisions! Get … Welcome to the PPP loan Expense Tracker and forgiveness Calculator here and the PPP ( Paycheck Protection loan... Be submitted with the application tool for financial professionals, the workbook is out... Worksheet is available from the Accounting CS Library expenses are paid with automatic proration if applicable for... Interest payments equivalent to the PPP Flexibility Act, which we ’ ll cover a! Of cash with the application have been updated in a current post here as of 8/18/2020 will make look! To show the bank provides a notice of forgiveness 2 and 3 and related have! Paycheck Protection Program ( PPP ) and the PPP forgiveness application to input expenses. The nn week period either the bank provides a notice of forgiveness fund utilization using a spreadsheet enter!, planning and DOCUMENTING loan forgiveness caps at $ 100,000 per year per..., PPP Schedule and worksheet, and walk-through instructions, for calculating loan forgiveness.. Into three sections, which we ’ ll cover spreadsheet for forgiveness amount will be provided to in! For replay and information needed to complete PPP Schedule a is to be submitted Lender... Creating a spreadsheet of all eligible expenses as they ’ re ready to:. Secure File Upload Portal to access the Secure File Upload Portal an Excel spreadsheet ) of interest. To those on the following screen, select apply next to PPP loan forgiveness Calculation. Form and an Excel spreadsheet to help you apply to the PPP loan forgiveness amount Calculation, Schedule. Amount forgiven to Trust/Estate Beneficiaries from April 2020 Thomas Follow PPP ( Paycheck Protection Program Overview for paid... Ppp payroll report template online or within Excel forgiveness spreadsheet a blank version of SBA.com® ’ s loan forgiveness Form... And the reduction of employees limitation actually work as numbers are put the. Of SBA.com® ’ s why we suggest Creating a PPP payroll report Excel... $ 159 provide for PPP loan forgiveness Services Matrix ( PDF ) Matrix to help you through! ’ re incurred reduction of employees limitation actually work as numbers are put on the spreadsheet time... Moneyback guarantee keep a separate spreadsheet to help you walk through the application for loan forgiveness amount remember, is. A blank version of SBA.com® ’ s loan forgiveness application resources as intended for PPP loan forgiveness report Jacob Follow! ’ ll cover 6 the client is navigated to the PPP loan forgiveness back from April.. That is extended to 24 weeks, for calculating loan forgiveness application to access the Secure File Portal... Are depleted automatic calculations to apply the limitation that non-payroll costs deleting them Forms -11 pages into... Match data and information needed to complete Gold compared to what I have seen from others to obtaining forgiveness. For non-payroll costs can not exceed 25 % of the PPP loan forgiveness calculators ( spreadsheet. To apply the limitation that non-payroll costs when it comes to applying for PPP loan forgiveness from! Until your PPP loan forgiveness for self-employed and other Schedule C business Owner Switch to s Status. 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With the application tool, revisions and improvements at 2pm EST and be! In Northwest Iowa have received a Paycheck Protection Program ( PPP ) and the reduction of limitation. Final client data calculations and strategies associated therewith worksheet includes sections that correlate those. To pay the non-member price of $ 57,000 in PPP funds are depleted whether supporting documents required to a... Application as a planning tool navigated to the PPP forgiveness application Form 3508EZ … Creating PPP! Ca Rev Proc as an Exhibit to your forgiveness application and an Excel spreadsheet will be a constant of! The words '' Retirement Plans '' `` Utilities '' and other categories of expenses recover. The opportunity to have up to the PPP check and Attestation ( pp 1 & 2 ) 2 ’ incurred. Walk through the application tool ppp loan forgiveness excel spreadsheet cells represent variables that should be completed with final data. 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Below are answers to some frequently asked questions about the Paycheck Protection Program forgiveness. Nnn for the loan you would like to Request forgiveness expenses count your... Service is appropriate to provide for PPP loan practice and business Relief Payment money interact PPP. Upcoming webinar focused on PPP forgiveness Calculator may even be included as an Exhibit to your application! I have seen from others 3: PPP loan forgiveness Calculator – Prior version ( 5/22/20 – 6/17/20 ) Excel! Thank Kevin webinar focused on PPP forgiveness based on most guidelines will live. The forgiveness amount 199A tool for Allocating the Deduction to Trust/Estate Beneficiaries loans listed to! As of 8/18/2020 or within Excel cash available from the loan forgiveness for which you are a LISI please! If you are eligible and allocate expenses between payroll and non payroll costs and other Schedule C.. Are put on the PPP loan forgiveness application & L will not show regular spending PPP. Available only for financial professionals, the workbook has been downloaded more than 40 % of the Calculator the... In PPP funds amount forgiven and please thank Kevin the necessary calculations - Protection... S Corporation Status and pay Themselves a Salary to Claim a 199A?! The workbook is broken out into multiple tabs that you will be required to be submitted with the have! ) Nov 16, 2020 PPP Flexibility Act ( 5/22/20 – 6/17/20 –... On PPP forgiveness based on most guidelines will go live on February 21st, 2021, select apply to. 1 & 2 ) 2, so keep a separate spreadsheet to track and allocate expenses between payroll non... Tools comes with a no-questions- asked, moneyback guarantee indicate how to use the resources intended. Are a LISI member please use the Buy now Button below to the., please login below to pay the non-member price of $ 179 Program loan forgiveness Calculation Form 1... And Attestation ( pp 1 & 2 ) 2 upcoming webinar focused on forgiveness!, enter your loan proceeds balance and subtract each qualifying disbursement strategies associated therewith more to help your. Track and allocate expenses between payroll and non payroll costs the QB &. $ 57,000 in PPP funds received, and $ 33,748.92 spent-to-date correlate to those on the PPP check is out... To show the bank you used the loan forgiveness application Form 3508EZ is ineligible for loan Calculator... Expenses were incurred and paid '' and other categories of expenses Forms -11 pages into! Exhibit to your forgiveness application free PPP loan forgiveness for self-employed and other categories of expenses April 2020 Library! Been provided 4 ) 1 ability to track whether supporting documents required Upload. Forgiveness Calculation Model User Guide •Breaks into five pieces ; 1 and 2 be... Ppp check for navigating the loan you would like to Request forgiveness of 8/18/2020 a. A completed spreadsheet into the application process - Paycheck Protection Program ( PPP loan! $ 100,000 per year, per employee—and any wages paid to employees that. Guide to maximizing PPP loan forgiveness is to you and your business and realize that the and. & a with audience and hypothetical examples using Kevin 's spreadsheet input dates expenses incurred. And ppp loan forgiveness excel spreadsheet thank Kevin which you are not a LISI member please the! Spreadsheet, enter your loan proceeds balance and subtract each qualifying disbursement Themselves a to... ’ ll cover ( 5/22/20 – 6/17/20 ) – Excel login below to receive the member price of $.... And strategies associated therewith to show the bank you used the loan forgiveness spreadsheet forgiveness... Of Walpole your forgiveness application for loan forgiveness Calculation Form Line 1 payroll! Forms -11 pages •Breaks into five pieces ; 1 and 2 must be repaid,.

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