The Payment Protection Program (PPP) applies for sole proprietors and covers 1099 employees.
Both, W2 and 1099 employees.
Sole proprietors are eligible.
Yes, 1099 are eligible.
All the above. As long as you can show that you paid them for the period that is required under this program.
Yes. Non-profit organizations are eligible.
Economic Injury Disaster Loans (EIDL) can be converted to PPP.
1099 are eligible.
- Compensation (salary, wage, commission, or similar compensation, payment of cash tip or equivalent)
- Payment for vacation, parental, family, medical or sick leave
- Allowance for dismissal or separation
- Payment required for the provisions of group health care benefits, including insurance premiums
- Payment of any retirement benefit
- Payment of state or local tax assessed on the compensation of employees.
The CARES Act makes possible forgiveness for non-payroll costs in excess of 25% of total forgiveness if employees are re-hired by June 30.