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  1. #151
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    Feb 2005
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    So I'm just stepping into this thread but didn't see comments about it other than people waiting for and finally getting checks....

    Those getting unemployment in the US....how many are getting noticeably more per week than they were making while working? If so, do you think that's fair? Those who have been retained, but their companies got PPP loans, are getting paid...generally their normal wage.

    So how logical is it that the government is looking to help businesses retain employees while retaining them might actually cost those employees money? Meanwhile some companies are laying people off so employees CAN collect larger checks and the company isn't on the hook for them...but plan to bring everybody back (playing the system by doing this AFTER they've expended PPP money).
    gotta love 'referential' treatment

  2. #152
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    Sep 2012
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    Modesto
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    Quote Originally Posted by SiteWolf View Post
    So I'm just stepping into this thread but didn't see comments about it other than people waiting for and finally getting checks....

    Those getting unemployment in the US....how many are getting noticeably more per week than they were making while working? If so, do you think that's fair? Those who have been retained, but their companies got PPP loans, are getting paid...generally their normal wage.

    So how logical is it that the government is looking to help businesses retain employees while retaining them might actually cost those employees money? Meanwhile some companies are laying people off so employees CAN collect larger checks and the company isn't on the hook for them...but plan to bring everybody back (playing the system by doing this AFTER they've expended PPP money).
    For those of us that received PPP loans in the first batch we had to start spending on employees that day. We paid people to stay home until we could open.

    If you take a PPP loan and had a head count of 50 and lowered to to 25 you would have to pay back about 50% of the loan plus the 25% bump on that payroll. We had one person that gave notice 30 days before the shutdown and another that went to a competitor that stayed open. We converted two part time employees to full time to get our head count up.

    For the newer loans and current loans they extended the deadline to use the funds, which would have been better, then the employees would have had unemployment until we were allowed to open, now in a few weeks we are on out own while we can't get fully operational until more things open. The original intent was to bring back employees when you open but the terms of the loans were you had to apply for forgiveness at 8 weeks after the loan docs were drawn.

    Like everything the rules and goal posts move daily and we check treasury every day to make sure we are in compliance.

    This is the latest application for forgiveness; anything else you read or hear that is different than this app is just wrong
    https://home.treasury.gov/system/fil...pplication.pdf
    Last edited by SfgiantsJD3; 05-22-2020 at 03:54 PM.
    "He's getting the best job in baseball."

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  3. #153
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    I don't know that there's a lick of difference between the first batch and the second....the second just refilled the coffers but it's all from the same bill. As far as I know the amount you're requesting forgiveness on must be acceptable expenses from the 8 week period starting the day your loan was funded....regardless of whether that's from the first or second round of funding.

    But you're right, your forgiveness amount is based also on your payroll...100% possible if payroll is the same, reduced by the same percentage if it's lower at the end of the period.

    I had spent time putting all the numbers together for allowable costs, which is what they originally said the loan amount would be based on....then last minute our bank said the SBA changed it, the loan amount would be strictly 2.5 times wages only...even tho what can be forgiven can include not just wages, but insurance premiums, 401k matches, utilities, etc.......which is a bit silly given most businesses would spend more than that 'extra' half month just on health insurance. What I've NOT seen for sure is whether our bank interpreted what the SBA said as other banks did.

    Thanks for the link to the forgiveness app
    gotta love 'referential' treatment

  4. #154
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    Quote Originally Posted by SiteWolf View Post
    I don't know that there's a lick of difference between the first batch and the second....the second just refilled the coffers but it's all from the same bill. As far as I know the amount you're requesting forgiveness on must be acceptable expenses from the 8 week period starting the day your loan was funded....regardless of whether that's from the first or second round of funding.

    But you're right, your forgiveness amount is based also on your payroll...100% possible if payroll is the same, reduced by the same percentage if it's lower at the end of the period.

    I had spent time putting all the numbers together for allowable costs, which is what they originally said the loan amount would be based on....then last minute our bank said the SBA changed it, the loan amount would be strictly 2.5 times wages only...even tho what can be forgiven can include not just wages, but insurance premiums, 401k matches, utilities, etc.......which is a bit silly given most businesses would spend more than that 'extra' half month just on health insurance. What I've NOT seen for sure is whether our bank interpreted what the SBA said as other banks did.

    Thanks for the link to the forgiveness app
    We included this in payroll
    Quarters Gross Employer Employer Employer State Workers Health Disability Employer 401(k) 401(k)
    941Q1,Q2,Q3,Q4 Earnings FICA Medicare FUTA UI Comp Insurance Insurance HSA Match Profit Sharing
    -

    made adjustments for over 100k, divided by 12, multiplied by 2.5

    We had 3 sources of guidance, CPA, HR on retainer for consulting and NAM. Ours was the fisrt loan our bank approved and the first loan the SBA approved for our bank. My internal finance guy also is a CPA so we have a high level of confidence it was done correctly. I think your bank is wrong
    Last edited by SfgiantsJD3; 05-22-2020 at 06:02 PM.
    "He's getting the best job in baseball."

    Bruce Bochy sent a clear message to whoever will be the Giants' next manager
    🙌
    https://bit.ly/2ndI9eG

  5. #155
    Join Date
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    South Dakota
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    Quote Originally Posted by SfgiantsJD3 View Post
    We included this in payroll
    Quarters Gross Employer Employer Employer State Workers Health Disability Employer 401(k) 401(k)
    941Q1,Q2,Q3,Q4 Earnings FICA Medicare FUTA UI Comp Insurance Insurance HSA Match Profit Sharing
    -

    made adjustments for over 100k, divided by 12, multiplied by 2.5

    We had 3 sources of guidance, CPA, HR on retainer for consulting and NAM. Ours was the fisrt loan our bank approved and the first loan the SBA approved for our bank. My internal finance guy also is a CPA so we have a high level of confidence it was done correctly. I think your bank is wrong
    to be sure we're saying the same thing.....i know all that can be paid out of loan proceeds and forgiven, but our loan principal was wages only, figured as you did....no tax, no benefits, wages for 2019/12*2.5
    gotta love 'referential' treatment

  6. #156
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    Mar 2013
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    35,838
    People who were laid off/furloughed receiving way more via unemployment than those of us still working is ********. I was ecstatic to get back to work since it guarantees me a paycheck, but man am extra $600/wk sounds awesome lol

  7. #157
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    Jul 2005
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    parts unknown
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    Quote Originally Posted by SiteWolf View Post
    So I'm just stepping into this thread but didn't see comments about it other than people waiting for and finally getting checks....

    Those getting unemployment in the US....how many are getting noticeably more per week than they were making while working? If so, do you think that's fair? Those who have been retained, but their companies got PPP loans, are getting paid...generally their normal wage.

    So how logical is it that the government is looking to help businesses retain employees while retaining them might actually cost those employees money? Meanwhile some companies are laying people off so employees CAN collect larger checks and the company isn't on the hook for them...but plan to bring everybody back (playing the system by doing this AFTER they've expended PPP money).
    It must get lonely being so much smarter then everyone else


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    Quote Originally Posted by Raps08-09 Champ View Post
    My dick is named 'Ewing'.

  8. #158
    Join Date
    Jun 2010
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    31,244
    It ain't that bad

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    RAIDERS, SHARKS, WARRIORS

    "i don't believe in mysteries but still i pray for my sister, when speaking to the higher power that listens, to the lifeless vision of freedom everytime we're imprisoned, to the righteous victims of people of a higher position" - planet asia, old timer thoughts

    "God is Universal he is the Ruler Universal" - gangstarr (rip guru), robbin hood theory

    "don't gain the world and lose your soul, wisdom is better than silver and gold" - bob marley, zion train

  9. #159
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    Quote Originally Posted by goingfor28 View Post
    People who were laid off/furloughed receiving way more via unemployment than those of us still working is ********. I was ecstatic to get back to work since it guarantees me a paycheck, but man am extra $600/wk sounds awesome lol
    Yeah the people working should definitely be given a mandatory hazard pay. Their normal salary plus the 600 pandemic pay imo.

    The 600 should be going to everyone who has or had a job during this whole crisis, even people who can prove that they were applying to jobs and couldnít anymore because of the virus.

    Iím just happy I got my unemployment since stimulus checks donít apply to me.
    If Trump can become president with no political background then I don't understand why I need a resumť

  10. #160
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    Feb 2005
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    South Dakota
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    when I first saw they were adding $600/wk I assumed they were just increasing the max, so far more ppl would get their usual pay before bumping up on the max....had no idea they were doing what they actually did, freaking morons.....now on top of that businesses are having a hard time getting ppl back before those extra benefits expire
    gotta love 'referential' treatment

  11. #161
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    Jan 2007
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    Bethlehem
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    Quote Originally Posted by Zmaster52 View Post
    I told myself that if I got backpaid, Iím going to tip heavy and bless any homeless people I see. Itís the least I could do, gotta spread the love especially to those who arenít as lucky as me.


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    No explanation as to what it accounted for?

    My buddy lives in TN and is getting $875/week on unemployment (heís a sound engineer and was just told this week that heíll have no work until June 2021 with LiveNation). Heís making more than his roommate whoís still working his normal job.

    Seems like theyíre doing the people well who lost their jobs due to this.


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    Quote Originally Posted by Jack of Blades View Post
    I don't consider Brand New indie. I consider them ****ing awesome and don't belong to a genre.

  12. #162
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    Feb 2005
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    I returned to my old company in a higher position, moving just as all this started in late Feb....I'm salaried so the only part of my schedule that changed is I worked 3-4 days a week from home, the rest in the office for a few weeks. some weeks I actually put in above average hours, most weeks I felt I was working harder as its tougher to market when ppl arent in their offices. I got a nice raise to make this move and not complaining there.....but a friend, who would be the first to admit hasn't worked hard in years and had an entry level production job, is currently taking home $100/wk more than me....and has just been out fishing every day with no plan to look for work.

    That's not pandemic pay, it's pure idiocy. Did ppls cost of living go up because they no longer have to pay to commute, buy work clothes, or go out to lunch? I guess i'd need an explanation as to why ppl should earn not just more than they had been, but drastically more....on the taxpayers dime. Then on top of that, what am I to say to an employee who thanks me for not laying them off, then realizes by KEEPing their job, they lost hundreds. a week.
    gotta love 'referential' treatment

  13. #163
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    Corona pay out thread

    Quote Originally Posted by SiteWolf View Post
    I returned to my old company in a higher position, moving just as all this started in late Feb....I'm salaried so the only part of my schedule that changed is I worked 3-4 days a week from home, the rest in the office for a few weeks. some weeks I actually put in above average hours, most weeks I felt I was working harder as its tougher to market when ppl arent in their offices. I got a nice raise to make this move and not complaining there.....but a friend, who would be the first to admit hasn't worked hard in years and had an entry level production job, is currently taking home $100/wk more than me....and has just been out fishing every day with no plan to look for work.

    That's not pandemic pay, it's pure idiocy. Did ppls cost of living go up because they no longer have to pay to commute, buy work clothes, or go out to lunch? I guess i'd need an explanation as to why ppl should earn not just more than they had been, but drastically more....on the taxpayers dime. Then on top of that, what am I to say to an employee who thanks me for not laying them off, then realizes by KEEPing their job, they lost hundreds. a week.
    Nothing makes me angrier then when someone gets something nice
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    Last edited by ewing; 05-23-2020 at 11:53 AM.
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    Quote Originally Posted by Raps08-09 Champ View Post
    My dick is named 'Ewing'.

  14. #164
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    Quote Originally Posted by ewing View Post
    Nothing makes me angrier then when someone gets something nice
    Sent from my iPhone using Tapatalk
    missing the point entirely I see
    nice is nice...fair and equal is nicer
    gotta love 'referential' treatment

  15. #165
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    Quote Originally Posted by SiteWolf View Post
    missing the point entirely I see
    nice is nice...fair and equal is nicer
    You are and those words are not synonymous.


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    Quote Originally Posted by Raps08-09 Champ View Post
    My dick is named 'Ewing'.

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