For owner workers of C corps
The worker money settlement of a C owner that is corp, thought as an owner that is also a member of staff, is entitled to loan forgiveness up no more than 2.5 x their monthly 2019 employee money settlement. For the 24 week covered period the most forgiveness is $20,833 per owner, and for an 8 week duration the utmost is $15,385.
You may also claim forgiveness for re payments for boss state and taxes that are local by the debtor and evaluated on owner worker payment, for the quantity compensated by the debtor for manager efforts for owner worker medical insurance, as well as for boss your retirement contributions to owner worker your your your retirement plan capped during the number of 2.5x their month-to-month 2019 boss your your your retirement share.
Read moreAre there any caps or exclusions through the concept of payroll expenses or owner payment?