PPP

The answer to this is quite simple.  Three words:  Because You Can. Before the PPP Flexibility Act was passed, business owners were required to fully spend all their PPP loan funds on eligible expenditures like payroll, utilities, rent (or mortgage interest), and some operations expenditures— before they would be eligible to apply for forgiveness.  Not anymore. …

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Important Rules to Know About PPP Loan Forgiveness The answer should be simple, but it really depends on many factors.  But let’s keep it simple.  First, you need to make sure you follow the rules for using the PPP loan funds: A minimum 60% of PPP funds must be used on payroll to W-2 employees …

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