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How can a Sole Proprietor have any Payroll forms when you are the only employee and do not file a 940/941/942? I can not submit any documentation to to finish the application with this form, yet I don't file this form with the IRS!
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yep I just posted about the same thing if I would have seen yours I would have just done it here I'm in the same position I don't have any payroll forms it's just me. What I submitted the application yesterday I just submitted a copy of my income straight off a square so I don't know what they want us to do. Of course they're closed so I have to wait till Monday to call them
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I did the exact same thing Was send my sales report in. I also sent my schedule C
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yep and then I went to the dashboard which first of all I didn't even know they had sent me anything on the dashboard because I didn't get an email someone else told me to check and then they're wanting all these payroll forms so I guess I will just have to wait and call them on Monday
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That is exactly what happened to me. No email. Just logged on to check status.
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That's ridiculous they should have notified us now I know to check often. Hopefully this isn't the same **bleep** show but I'm dealing with for Florida unemployment
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Oh I feel you on that. I’m dealing with Illinois unemployment. Yeah usually when I’ve done capital loans they have been on sending emails out. It was by chance that I even checked online. Usually I just use my app and rely on emails. Now we both know to check it often. I don’t know how much more they would want from us. I sent in a lot of information just about everything I had I copied and sent it with the application.
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Do you guys know... if we take this loan, can we still collect unemployment? It’s making us check payroll if we do the sole proprietorship. So I’m not clear if that will look like income, rather then a loan?
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Yes a PPP loan for a sole proprietorship will invalidate your right to unemployment since your net profit IS your income. Thus the 75% payroll needed for forgiveness is your salary.
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I did the exact same thing was sent my sales report in. I also sent my schedule C
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I submitted an unfiled 1040 c as instructed, an actual 3 month profit and loss form, and a bank statement. Plus ID requested. We are a very small newer sole proprietorship. Our application was accepted, sent to SBA on Monday. Last night, Wednesday our loan was approved by SBA. So just send what I did. Our funds are supposed to be deposited today or tomorrow.
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