PPP Loan Forgiveness [EIDL GRANT + EXEMPTIONS]

The PPP loan forgiveness application for those loans $50,000 or less can use form 3508-S. The S stands for simplified which is different than the 3508 or 3508-EZ.

PPP loan forgiveness tips to help with form 3508-S for loans $50,000 or less. The PPP exemptions for FTE and reduced salaries, EIDL grant reductions, payroll costs, 8 week vs 24 weeks, self employed and small business owner payroll caps and statistics of the PPP program.

Borrowers that use SBA Form 3508S are exempt from reductions in loan forgiveness amounts based on reductions in full-time equivalent (FTE) employees or in salaries or wages.

https://www.youtube.com/watch?v=08KHsPT8LNo

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TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
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