4 ms·
Maybe I'm wrong about this, but the wording on the site makes it seem like those who make over $100,000 are exempt from forgiveness entirely, but it was my unde
by themagician 6y ago
Maybe I'm wrong about this, but the wording on the site makes it seem like those who make over $100,000 are exempt from forgiveness entirely, but it was my understanding that the are covered, just not beyond $100,000. So you can pay someone over the $100k annualized threshold, it just won't add to the amount forgiven. So the single person cap is effectively $16,666 (($100k/12)*2).
Am I wrong?
- zieski 6y agoThe SBA may release more guidance but as of now payroll costs over $100k are not included in the calculation of the eligible loan amount. They have not been excluded from forgiveness. However, the forgiveness penalties for reductions of more than 25% in wages/salary for employees does not apply to employees making over $100k.