Filetype Excel XLSX | Posted on 14 Aug 2022 | 3 years ago
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201x Filetype XLSX File size 0.24 MB Source: www.fluenceportland.com
Sheet 1: Allowable expenses
| FOR ESTIMATING PURPOSES ONLY-UPDATED 4/16/2020- SUBJECT TO FURTHER GUIDANCE EXPECTED LATE APRIL | ||||||||||||
| EIDL/PPP ELIGIBLE EXPENSES | ||||||||||||
| During 8 week Period | ||||||||||||
| EIDL Grant/Loan | PPP | PPP | ||||||||||
| Eligible | Eligible | Forgiveness | ||||||||||
| Gross Payroll | [1] | Avoid | Yes | Yes | Not more than 25% increase? | |||||||
| SUTA | [1] | Avoid | Yes | Yes | ||||||||
| ER PFML, ER HI (talk to your payroll rep) | [1] | Avoid | Yes | Yes | ||||||||
| 2020 Retirement | [1] | Avoid | Yes | Yes | Unclear if limits - talk to your TPA | |||||||
| 2019 Retirement | Yes | Unclear | No | (not incurred in 2020) | ||||||||
| Group Health | [1] | Avoid | Yes | Yes | ||||||||
| Rent | Wait | Yes | Yes | For leases in place prior to 2/15 | ||||||||
| Natural Gas/Electric | Wait | Yes | Yes | If service began prior to 2/15 | ||||||||
| Water | Wait | Yes | Yes | If service began prior to 2/15 | ||||||||
| Telephone | Wait | Yes | Yes | If service began prior to 2/15 | ||||||||
| Internet | Wait | Yes | Yes | If service began prior to 2/15 | ||||||||
| Borrower's Mortgage interest | Wait | Yes | Yes | If mortgage began prior to 2/15 | ||||||||
| Other interest | Wait | Yes | No | |||||||||
| Payables - supplies | [3] | Yes | No | No | ||||||||
| Loan payments | [3] | Yes | No | No | ||||||||
| Back pay reimbursement | No | No | No | |||||||||
| Advance pay | No | No | No | |||||||||
| Hazard pay | [1] | Avoid | Yes | Yes | ||||||||
| Payroll Bonus | [1] | Avoid | Yes | Yes | Not more than 25% increase? | |||||||
| Professional services (IT, accounting, legal) | Yes | No | No | |||||||||
| Personal Property Taxes | Yes | No | No | |||||||||
| Equipment | [3] | Maybe | No | No | ||||||||
| Payments to 1099's or Temp agencies | [4] | Usually | No | No | ||||||||
| Distributions/Draw | [2] | No | No | No | ||||||||
| Other business expenses | [4] | Usually | No | No | ||||||||
| Sch C/Partner/Owner payment services | Avoid | Yes | Maybe | |||||||||
| ($15,385 pp, $1,923 per week, $3,846 biweekly) | ||||||||||||
| Owner loans | [2] | No | No | No | ||||||||
| Refinancing debt | [2] | No | No | No | ||||||||
| Note: | ||||||||||||
| [1] | EIDL and PPP can't be use for same purpose. We suggest exhausting PPP funds on items listed as "wait" to show no duplication. | |||||||||||
| Some guidance suggests loan after 4/3 can't be used for payroll. Just avoid using for payroll. | ||||||||||||
| [2] | Misusing funds could result in fraud charges. Please review the agreements, expenses paid, and carefully track your expenses. | |||||||||||
| [3] | EIDL is for working capital to carry the business until resumption of normal operations and expenditures necessary to alleviate | |||||||||||
| the economic injury, but not to exceed what the business could have provided had the injury not occurred. | ||||||||||||
| (Don't use it to expand the business) | ||||||||||||
| [4] | Can be used to repay obligations that cannot be met due to revenue losses | |||||||||||
| FOR ESTIMATING PURPOSES ONLY-UPDATED 4/16/2020- SUBJECT TO FURTHER GUIDANCE EXPECTED LATE APRIL | |||||||||||||||||
| Loan amount: | Notes: | ||||||||||||||||
| Practice name: | Bank Name: | a) Refer to "Allowable Expenses" tab for listing of acceptable expenses | |||||||||||||||
| Number of FTE's (Fulltime equivalents) on 2/15/20 | Number of FTE's on 6/30/20 | b) Forgiveness of loan will be reduced if staff not rehired by 6/30. | |||||||||||||||
| Date online access provided to Rosen | Date loan document sent to Rosen | c) Guidance on forgiveness not yet issued - Check back | |||||||||||||||
| Date funded | End of 8 weeks (NOT 2 months) | 2/23/1900 | d) You must retain documentation (receipts, copies of checks, payroll reports) | ||||||||||||||
| e) Expect payments to related parties to be scrutinized | |||||||||||||||||
| PAYROLL PROTECTION PROGRAM LOAN EXPENSE TRACKER | |||||||||||||||||
| [1] | [2] | [3] | [4] | Total | [5] | [6] | [7] | [8] | Summary | ||||||||
| Check # | Gross | SUTA/SUI | Health Ins. | Retirement | Mortgage | Total | Loan | ||||||||||
| Description | or EFT | Date | Payroll | ( EE W/H) | (EE W/H) | Payroll Costs | Rent | Interest | Utilities | Overhead | Other | Total | Accumulated | Remaining | |||
| Beginning loan balance | - | ||||||||||||||||
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| Total | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||
| 75% | Allowed | Actual | |||||||||||||||
| Max forgiveness | - | Payroll | - | - | #DIV/0! | ||||||||||||
| Loan amount | - | Overhead | - | - | #DIV/0! | ||||||||||||
| Potential unforgiven loan | - | total | - | - | |||||||||||||
| Note: Max forgiveness assumes - no reduction. | |||||||||||||||||
| [1] | Gross wages from payroll report. This is not net pay, your payroll company should be able to provide this information, limited to annualized salary of $100,000/year | [7] | Utilities includes gas, electric, phone, and internet.. | ||||||||||||||
| Although we need guidance, as of right now we believe gross payroll should be reduced by any biweekly gross payroll in excess $3,846.15 ($100,000/26 pay periods) | [8] | Other includes allowable expenses not eligible for forgiveness. | |||||||||||||||
| [2] | Employer portion of State unemployment tax - from payroll report - SUTA, SUI, ER PFML - NOT employee withholdings | a) other interest | |||||||||||||||
| [3] | Health insurance is the employer portion of group health insurance. Employee contributions are already included in gross payroll and should not be listed here. | b) Rent/Utilities/Interest - agreement after 2/15/20 | |||||||||||||||
| [4] | Retirement - Employer cost, not employee withholding. Check with your TPA on options ASAP | ||||||||||||||||
| [5] | Include rent paid, even if to related party. Please note that rent is only a forgivable expense if subject to a lease in place prior to 2/15/20. | ||||||||||||||||
| [6] | Include mortgage interest, if the borrower owns the building. If a related party owns the building, the borrower is including rent already and can't include both. | ||||||||||||||||
| Mortgage Must be in place prior to 2/15/20 to be eligible for forgiveness | |||||||||||||||||
| FOR ESTIMATING PURPOSES ONLY-UPDATED 4/16/2020- SUBJECT TO FURTHER GUIDANCE EXPECTED LATE APRIL | |||||||||||||||||
| Loan amount: | 40,000.00 | Notes: | |||||||||||||||
| Practice name: | John Smith DMD PC | Bank Name: | Any Bank | a) Refer to "Allowable Expenses" tab for listing of acceptable expenses | |||||||||||||
| Number of FTE's (Fulltime equivalents) on 2/15/20 | 10.00 | Number of FTE's on 6/30/20 | 10.00 | b) Forgiveness of loan will be reduced if staff not rehired by 6/30. | |||||||||||||
| Date online access provided to Rosen | 4/15/2020 | Date loan document sent to Rosen | 4/20/2020 | c) Guidance on forgiveness not yet issued - Check back | |||||||||||||
| Date funded | 4/15/2020 | End of 8 weeks (NOT 2 months) | 6/9/2020 | d) You must retain documentation (receipts, copies of checks, payroll reports) | |||||||||||||
| e) Expect payments to related parties to be scrutinized | |||||||||||||||||
| PAYROLL PROTECTION PROGRAM LOAN EXPENSE TRACKER | |||||||||||||||||
| [1] | [2] | [3] | [4] | Total | [5] | [6] | Summary | ||||||||||
| Check # | Gross | SUTA/SUI | Health Ins. | Retirement | Total | Loan | |||||||||||
| Description | or EFT | Date | Payroll | ( EE W/H) | (EE W/H) | Payroll Costs | Rent | Utilities | Overhead | Total | Accumulated | Remaining | |||||
| Beginning loan balance | 40,000 | ||||||||||||||||
| Payroll | EFT | 4/17/2020 | 24,000 | 92 | (800) | (320) | 22,972 | - | 22,972 | 22,972 | 17,028 | ||||||
| American funds - 401k w/h | EFT | 4/18/2020 | 320 | 320 | - | 320 | 23,292 | 16,708 | |||||||||
| Verizon April Phone | 340 | 4/20/2020 | - | 350 | 350 | 350 | 23,642 | 16,358 | |||||||||
| Larry LLC - May Rent | 345 | 5/1/2020 | - | 5,000 | 5,000 | 5,000 | 28,642 | 11,358 | |||||||||
| Tufts - April Health | EFT | 5/5/2020 | 2,500 | 2,500 | - | 2,500 | 31,142 | 8,858 | |||||||||
| Total | 24,000 | 92 | 1,700 | - | 25,792 | 5,000 | 350 | 5,350 | 31,142 | 31,142 | 8,858 | ||||||
| 75% | Allowed | Actual | |||||||||||||||
| Max forgiveness | 31,142 | Payroll | 25,792 | 25,792 | 83% | ||||||||||||
| Loan amount | 40,000 | Overhead | 8,597 | 5,350 | 17% | ||||||||||||
| Potential unforgiven loan | 8,858 | total | 34,389 | 31,142 | |||||||||||||
| Note: Max forgiveness assumes - no reduction. | |||||||||||||||||
| [1] | Gross wages from payroll report. This is not net pay, your payroll company should be able to provide this information, limited to annualized salary of $100,000/year | [6] | Utilities includes gas, electric, phone, and internet.. | ||||||||||||||
| Although we need guidance, as of right now we believe gross payroll should be reduced by any biweekly gross payroll in excess $3,846.15 ($100,000/26 pay periods) | [7] | Other includes allowable expenses not eligible for forgiveness. | |||||||||||||||
| [2] | Employer portion of State unemployment tax - from payroll report - SUTA, SUI, ER PFML - NOT employee withholdings | a) other interest | |||||||||||||||
| [3] | Health insurance is the employer portion of group health insurance. Employee contributions are already included in gross payroll and should not be listed here. | b) Rent/Utilities/Interest - agreement after 2/15/20 | |||||||||||||||
| [4] | Retirement - Employer cost, not employee withholding. Check with your TPA on options ASAP | ||||||||||||||||
| [5] | Include rent paid, even if to related party. Please note that rent is only a forgivable expense if subject to a lease in place prior to 2/15/20. | ||||||||||||||||
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