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Notes: A Stepwise Guidebook on Signing Form 2employees Compensation Ordinance Online

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The Definite Guide to Form 2employees Compensation Ordinance

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Check How to Enter the Form 2employees Compensation Ordinance

hello my name is Katie sonorous with.sonorous Wealth Management and in this.video we're going to talk about how to.fill out PPP application form easy.version for self-employed people with.two employees using the twenty four.weeks.covered period let's get going.[Music].first in order to locate the form and.the instructions you have to type in.Treasury and your search engine go to.the US Department of the Treasury.website and on the home page you will.see the red bar with the link you'll.click on it scroll to the bottom where.you see the information for borrowers.and you will see Loan Forgiveness.application form easy instructions and.loan forgiveness application form easy.they both PDF file so first the.instructions at the very beginning they.tell you to go through the checklist and.read carefully and see if any of these.options apply to you if they do apply to.you you can use this easy form in our.case we have self-employed individual.with two workers and this person is.eligible to use the EZ form going back.we will go on form itself.it's in PDF file you can type right here.if you want you can print it out and.fill out by hand it's your choice.also ask your lender if they have an.online version on their website or maybe.it will be available soon.you also have representations and.certification.checklist that you have to sign and date.and demographic information sheet that.is optional let's get to the form.as I mentioned earlier this will be for.self-employed person with two full-time.workers that the hours have not been.reduced at the top he will see business.legal name if you don't have one you put.your first and last name your business.address or you have home address if you.use the office at your house and you do.have physical office doing business s or.trade name if you have one a I am number.or social security business phone number.primary contact and your email address.they will ask you about your SB PPP loan.number lender PPP loan number if you.cannot find your number contact your.lender next they will ask you about your.PPP loan amount and our example it will.be $30,000 and PPP loan disbursement.date if you receive two different.disbursement you have to use the very.first date of the disbursement since we.using the 24 week coverage period let's.assume in our example we receive the.money after June 5th we'll just put six.seven of twenty employees the time of.the loan application and employees the.time of forgiveness application our.self-employed person has two people at.the beginning and two at the end he.didn't receive any ideal advance amount.that's your grant since no a ideal.application number if you did receive.the advance amount that's your grant you.have to put the amount in here and your.plication number if you can't find the.application number contact your lender.payroll schedule you have to list here.and check the box for weekly bi-weekly.twice a month or monthly how you pay.your employees we're doing an example.with schedule.[Music].see we'll just leave Schedule C in here.and cupboard period in our example is 24.weeks.sorry 24 week starts with the date of.disbursement of funds and and 24 weeks.later it cannot go beyond December 31st.of 2020 alternative payroll covered.period if applicable you will use this.in case you pay your employees weekly or.bi-weekly next question if you received.the loan and access of 2 million dollars.you have to check the box here we'll.leave it blank.we received 30,000.we received $30,000 with our PPP loan.how's the loan calculated so our.self-employed person his Schedule C line.31 is 70,000 he had two employees in.2019 on payroll which he paid $32,000.each it's 64,000 and he also paid $5,000.for each employee which is $10,000 total.for health insurance so our total will.be 70 Blasi or payroll 64 and employee.health insurance expenses of $10,000 is.144,000 next we divided by 12 months and.times 2.5 and here's our loan amount of.$30,000 you have to include here on line.one payroll cost they payroll for two.employees which remember was $64,000 in.2019 and also our self-employed person.owner compensation so he paid them.$64,000 in payroll and $10,000 in health.insurance so we need to calculate the.wages paid during the 24 weeks covered.period we divide 64 by 52 weeks will.come with the amount that he paid per.week multiplied by 24 weeks which is our.covered period we're gonna get the.amount of 29,000 5.thirty-eight that's how much our sole.proprietor paid his two employees during.the 24 weeks covered period his annual.cost of health insurance for his two.employees it was $10,000 24 weeks.covered for health insurance is.additional 4615 so the total of payroll.for two employees and health insurance.for 24 weeks comes to 34,000 1:53 that's.our employees now for owner compensation.so we know our owners income in 2019.$70,000 you cannot simply take 24 weeks.worth of compensation according to new.as being a rule you have to do the.following calculation we divide 70,000.by 12 months and multiplied by 2 point 5.we get 14,000 583 that's our owner.compensation so we have to get the total.of our payroll of 34 153 in our owner.compensation of 14,000 583 we get the.total of 48 thousand 7 36 and this.amount will go into our line 1 over here.next line to business mortgage interest.payments.in our example our owner had $500 line.three business ran through our lease.payments our owner had $7,500 per line.for business utility payments we used a.lot of electricity we paid $4,300.utility payments it also includes your.phone bill internet next we go to.potential forgiveness amounts you have.to add lines 1 2 3 & 4 together and.included in line 5 so this comes to.62,000 833 our PPP loan amount as you.remember it was $30,000 even next line 7.for payroll cost of 60% requirement you.have to divide line 1 that's our payroll.by zero point six zero so it does say.divide our payroll was right here 48 7.36 and we get 80 1227 line 8 is our.forgiveness amount you have to enter the.smallest of lines 5 6 and 7 the smallest.amount is our loan amount.three thousand dollars so it means that.for our small business owner full loan.of thirty thousand dollars will be fully.forgiven that's the end of your.calculation form you also have to fill.out the representation and certification.form which you have to read carefully.initial next to each item you have to.sign print your name date your.application and put your title number.you also have demographic information.form which is not required it's optional.after you submit your application to.your lender lender has 60 days to.respond and give you the result on your.forgiveness form thank you for watching.[Music].

How to generate an electronic signature for the Form 2employees Compensation Ordinance online

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How to create an electronic signature for the Form 2employees Compensation Ordinance in Chrome

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Form 2employees Compensation Ordinance FAQs

Check the below common queries about Form 2employees Compensation Ordinance . Communicate with directly if you still have other queries.

Need help? Contact support

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First off there are no fees for leaves or requests for leave in any branch of the United States military. Second there is no such thing as a fiancée form in the U.S. military. There is however a form for applying for a fiancée visa (K-1 Visa)that is available from the Immigration and Customs Service (Fiancé(e) Visas ) which would be processed by the U.S. State Department at a U.S. Consulate or Embassy overseas. However these fiancée visas are for foreigners wishing to enter the United States for the purpose of marriage and are valid for 90 days. They have nothing to do with the military and are Continue Reading

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How do you know if you need to fill out a 1099 form?

It can also be that he used the wrong form and will still be deducting taxes as he should be. Using the wrong form and doing the right thing isnt exactly a federal offense

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