As businesses who received a Paycheck Protection Program (PPP) loan look forward to maximizing their loan forgiveness, the following outlines the steps to take to calculate the amount of the PPP loan eligible for forgiveness. Look over these steps now to prepare for maximum loan forgiveness at the end of the covered period.
Step 1
Track total eligible costs incurred and paid during the covered period* following the loan funding
Payroll costs
Compensation to employees including items such as: