Documenting your 3508S PPP Forgiveness Application – EVERYTHING you need to know to get forgiveness
Now that banks are accepting applications for PPP forgiveness, you may want to know: What do the banks need to see? What documents do I need to prepare? What will they ask for?
Do you have a loan under $50k? Well, this video is for you as you learn how to document your PPP spending and use the 3508S form for applying for forgiveness.
All those questions are answered in this video! Payroll and non-payroll costs are documented differently, but this will get you perfectly prepared to apply for forgiveness.
Hannah also includes her tips for her days working as an auditor on how to make sure your documentation passes the scrutiny of the banks and SBA.
3508S video: https://youtu.be/9YSYvQbFtNk
Reading Payroll reports video: https://youtu.be/-XJahVxzi18
Documentation - Basics: https://youtu.be/6tlCbJaoDPo
Owners Compensation: https://youtu.be/6tlCbJaoDPo
Instructions for 3508 - Includes documentation requirements: https://home.treasury.gov/system/files/136/PPP-Loan-Forgiveness-Application-Form-3508S-Instructions.pdf
If you want to explore Clara CFO Group, find us here: https://claracfo.com/
If you want to schedule a time to talk with Hannah (the one in the video) about your business, do that here: https://claracfo.as.me/claritysessions
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.