Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

PPP Loan Forgiveness : Salary Reduction Calcs

We furloughed most of our employees on Feb 16, 2020 when we went into a mandatory lockdown in California.   

Then we hired new employees to help us pivot our company and get our whole program online.  

 

Since the people that we hired were new employees (actually a mix of new and returning) I'm confused how to calculate the Salary Reductions for those that we used the PPP funds to payroll.     Any suggestions?  

thanks

Gregg

0 Cheers

This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion

1 Comment 1
qbteachmt
Level 15

Are you preparing income tax forms for your client using Lacerte, ProSeries or ProConnect? Because this is a peer user community of those software packages.

Otherwise, it seems like you might consult with a business financial manager, such as your own CPA would help you.

*******************************
"Level Up" is a gaming function, not a real life function.