COVID-19: PPP & EIDL Loan Information

forgiveness amount

The PPP loan Forgiveness Amount include eligible payroll and non-payroll costs paid or incurred during the covered period.

Payroll costs include payroll cash compensation, employer-paid insurance benefits, employer-paid retirement contributions, employer-paid state and local payroll taxes, and owner-employee compensation.

Non-payroll costs include morgage interest costs, rent payments, utility payments,covered operations costs, covered property damage costs, covered supplier costs, and covered worker protection costs.

The EIDL Advance will no longer be deducted from your PPP loan Forgiveness Amount.

The Forgiveness Amount and the EIDL Advance are non-taxable income for federal income tax purposes.


If you have any questions or comments, please feel free to contact me.