4 ms·
> it pays out 100k in salary. Then the maximum loan you would have qualified for would have been $20,833 and you'd be able to get about 80% (plus applicable ut
by meritt 6y ago
> it pays out 100k in salary.
Then the maximum loan you would have qualified for would have been $20,833 and you'd be able to get about 80% (plus applicable utility/rent/mortgages up to potentially 100%) forgiven.
So, $16-21k of free money with currently unclear tax implications. Nothing to sneeze at but it's nothing insane either.
- JamesBarney 6y agoIf you pay out 100k in salary for the year, I meant pay out 100k in salary(to your employees) over the 8 week period.
- sem000 6y agoThat’s not a forgiven loan and you would have to pay it back. Let’s not just make up bullshit for the sake of trying to make a point.