The Thomas Howell Ferguson Blog

Words Count

Subscribe to our newsletter

By submitting this form, you are consenting to receive marketing emails from: Thomas Howell Ferguson P.A. CPAs, 2615 Centennial Boulevard #200, Tallahassee, FL, 32308, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

How Can PPP Loans Be Used By Individuals With Income From Self-Employment Who File a 2019 Form 1040, Schedule C?

The proceeds of a PPP loan are to be used for the following. Owner compensation replacement, calculated based on 2019 net profit. Employee payroll costs (as defined in the First PPP Interim Final Rule) for employees whose principal place of residence is in the United States, if you have employees. Mortgage interest payments (but not […]

Read More…

Am I Eligible for the PPP If I Have Income From Self-Employment and File a Form 1040, Schedule C?

Am I eligible for the Paycheck Protection Program (PPP) loan if I have income from self-employment and file a Form 1040, Schedule C? You are eligible for the Paycheck Protection Program (PPP) loan if: You were in operation on February 15, 2020; You are an individual with self-employment income (such as an independent contractor or […]

Read More…