Dear valued clients and friends,
Attached please find more helpful information on the rules of the Paycheck Protection Act loans that are being administered by the SBA. One question that many of you have been asking is "Can I include independent contractor payments in my payroll costs for purposes of this loan?".
Page ten of the attached clearly defines what are payroll costs for these loans. Page 11, section h. of the attached clearly answers the question about including independent contractors in your payroll costs. Please refer to these pages in the attached document for your answers on this matter.
Kindly note we are here first and foremost to assist our clients with their needs, and there certainly have been many as we all struggle to understand new laws and rules resulting from the current crisis. We want you to know that we are grateful to you all that can financially support our firm during these trying times. For our clients that have had to cancel our services, due to being closed or severely impacted by this disaster, we will do our best to assist you as well, but in fairness will be giving priority to our current paying clients.
Matthew Shiebler, CPA