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Old 03-28-2020, 01:09 PM
RINGLEADER
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Old 03-28-2020, 03:59 PM   #2
O.city O.city is offline
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After staying after bankers all day and speaking to my CPA and mililo, i would definitely recommend a few things mentioned here.

Get in touch with your banker. They'll have info for you. Start getting some numbers together of what your normal expenses and payroll per month are just so you have it all ready.

I am not sure about the EIDL. I don't think i'm going to fill that out right now, i'm gonna see what happens with these other options first. I'm hopeful that if we can get thru the next 2 or 3 months, things will settle down a little bit.
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Old 03-28-2020, 04:04 PM   #3
notorious notorious is online now
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What bank is open on Saturday?

That's big-city stuff right there.
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Old 03-28-2020, 04:15 PM   #4
O.city O.city is offline
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Originally Posted by notorious View Post
What bank is open on Saturday?

That's big-city stuff right there.
I have their cell #s. They can't get away from me.
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Old 03-28-2020, 04:08 PM   #5
Hog's Gone Fishin Hog's Gone Fishin is offline
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I own and run two LLC's but have no employees and don't actually draw a salary myself. Do I qualify for anything???
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Old 03-28-2020, 05:33 PM   #6
mililo4cpa mililo4cpa is offline
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Quote:
Originally Posted by Hog's Gone Fishin View Post
I own and run two LLC's but have no employees and don't actually draw a salary myself. Do I qualify for anything???
Possibly SBA EIDL (this assumes some type of economic impact)
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Old 03-28-2020, 06:02 PM   #7
Hog's Gone Fishin Hog's Gone Fishin is offline
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Originally Posted by mililo4cpa View Post
Possibly SBA EIDL (this assumes some type of economic impact)
Well after looking into it and I don't have employees BUT I do send out 1099s and that should make me qualify. Thing is I don't know yet if rents will come in, my two highest renters are in the restaurant business so I know they are shut down.
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Old 03-28-2020, 07:00 PM   #8
RINGLEADER RINGLEADER is offline
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Quote:
Originally Posted by Hog's Gone Fishin View Post
Well after looking into it and I don't have employees BUT I do send out 1099s and that should make me qualify. Thing is I don't know yet if rents will come in, my two highest renters are in the restaurant business so I know they are shut down.
This is my question — do they calculate it based strictly off payroll or does it include freelancers/people who get 1099s.
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Old 04-02-2020, 06:21 AM   #9
mililo4cpa mililo4cpa is offline
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Originally Posted by RINGLEADER View Post
This is my question — do they calculate it based strictly off payroll or does it include freelancers/people who get 1099s.
I believe the answer to this is that you cannot include 1099s in your calculation of average payrolls to determine the amount you can borrow for PPP....

The reasoning is that independent contractors and sole proprietors can apply for their own PPP, so in a way, that would be "double dipping" if the business also included those payments....
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Old 03-28-2020, 07:08 PM   #10
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Originally Posted by Hog's Gone Fishin View Post
Well after looking into it and I don't have employees BUT I do send out 1099s and that should make me qualify. Thing is I don't know yet if rents will come in, my two highest renters are in the restaurant business so I know they are shut down.
Now you have me wondering.

I send out multiple 1099s, but no one actually works for me full time either. The mother ****ing multinational cock sucking packer oligarchy sure a hell hurt my income and are still doing so via workforce shutdown rumors and other market manipulation tools.
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Old 03-28-2020, 07:25 PM   #11
Trivers Trivers is offline
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Now you have me wondering.

I send out multiple 1099s, but no one actually works for me full time either. The mother ****ing multinational cock sucking packer oligarchy sure a hell hurt my income and are still doing so via workforce shutdown rumors and other market manipulation tools.
They have formulas that tell you what you get.

Everyone apply for both.

More info is coming.
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Old 03-28-2020, 07:33 PM   #12
O.city O.city is offline
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Originally Posted by ghak99 View Post
Now you have me wondering.

I send out multiple 1099s, but no one actually works for me full time either. The mother ****ing multinational cock sucking packer oligarchy sure a hell hurt my income and are still doing so via workforce shutdown rumors and other market manipulation tools.
https://twitter.com/mcuban/status/12...12365824?s=21M

Here’s a good starting place
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Old 03-28-2020, 07:16 PM   #13
Hog's Gone Fishin Hog's Gone Fishin is offline
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Take it for what its worth
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Old 03-29-2020, 08:25 AM   #14
Trivers Trivers is offline
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From a SBA rep:


Disaster customer service - https://www.sba.gov/funding-programs...ter-assistance

Disaster loan application – https://disasterloan.sba.gov/ela/

To determine your NAICS code – https://www.naics.com/naics-identification-help/

To determine your NAICS code small business eligibility – https://www.sba.gov/size
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Old 03-29-2020, 08:51 AM   #15
Skyy God Skyy God is offline
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Doing well at this point.

Still signing up clients, new staff member starting Monday.

Setting up a VOIP system and using the savings on software and advertising.

Slowdown in medical treatment is gonna **** me later, tho.
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