Self-employment And The Paycheck Protection Program

Apr 24, 2020 Payroll Tax

The brand-new Paycheck Protection Program (PPP) is designed to support American small businesses with immediate cash support during the COVID-19 pandemic, including the Self-Employed and Independent Contractors that were in business as of February 15, 2020. MOST of the focus has been on entities with W-2 payroll. This document provides some guidance for those who report their activity on their individual income tax returns and don’t have a W-2.

Learn More

SELF-EMPLOYED-PPP.pdf

Our Other Articles

House Passes Bill To Give Small Businesses More Flexibility In Spending PPP Loans

May 29, 2020 Payroll Tax PPP

The House of Representatives on Thursday, May 28th passed new legislation that would make it easier for businesses to have their Paycheck Protection Program loans forgiven by relaxing restrictions on how the loan money can be used and extending the period that businesses have to use the funds.

Payroll Tax Deferral Update

Apr 24, 2020 Payroll Tax

The employer’s share of Social Security Tax (but not Medicare tax) can be delayed, and paid over two years.

UPDATE: PPP2 and Partnership Income

Feb 01, 2021 PPP

We have noted that in some 2nd round Paycheck Protection Program (PPP2) applications for partnerships filers, are needing to be updated due to the self-employment calculation for the partners amount to be used in the payroll calculation.

View more articles