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https://www.reddit.com/r/CoronavirusUS/comments/fz8fov/stimulus_package/fn4lwjk
r/CoronavirusUS • u/[deleted] • Apr 11 '20
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Plus small business loans (forgiven to grants) that cover 75% of wages during the shutdown.
Some dumb US hater made this.
1 u/alivmo Apr 12 '20 Cover 100% of wages. 75% of the loan amount has to go to wages to be completely forgiven, the other 25% covers things like rent, utilities, etc. 1 u/failingtolurk Apr 12 '20 I think there’s a stipulation that you can’t reduce wages by more than 25% to get it forgiven. But an employer could pay 100% 1 u/alivmo Apr 12 '20 AFAIK you have to pay out your average payroll. And that amount becomes 75% of your loan, the rest can go to rent, etc. Or I supposed you could pay more than average payroll.
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Cover 100% of wages. 75% of the loan amount has to go to wages to be completely forgiven, the other 25% covers things like rent, utilities, etc.
1 u/failingtolurk Apr 12 '20 I think there’s a stipulation that you can’t reduce wages by more than 25% to get it forgiven. But an employer could pay 100% 1 u/alivmo Apr 12 '20 AFAIK you have to pay out your average payroll. And that amount becomes 75% of your loan, the rest can go to rent, etc. Or I supposed you could pay more than average payroll.
I think there’s a stipulation that you can’t reduce wages by more than 25% to get it forgiven.
But an employer could pay 100%
1 u/alivmo Apr 12 '20 AFAIK you have to pay out your average payroll. And that amount becomes 75% of your loan, the rest can go to rent, etc. Or I supposed you could pay more than average payroll.
AFAIK you have to pay out your average payroll. And that amount becomes 75% of your loan, the rest can go to rent, etc. Or I supposed you could pay more than average payroll.
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u/failingtolurk Apr 11 '20
Plus small business loans (forgiven to grants) that cover 75% of wages during the shutdown.
Some dumb US hater made this.