How to Calculate FTE Reductions for Your PPP Loan
One of the critical measures of your PPP Loan forgiveness is your FTE count. Here's how to figure out what that is and what changes you may want to make. Hannah Smolinski, Founder of Clara CFO Group, is walking through the "Reduction Based on Reduction in the Number of Employees" portion of Section 1106 in the CARES Act. We are not covering seasonal businesses, but are discussing how to make your selection between the two available FTE calculation periods.
The video from Niki Ramirez (Founder of hranswers.org) on how to calculate FTEs can be found here: https://www.youtube.com/watch?v=XFEFoRgrgH0
If you haven't watched our video about "How to get your PPP Loan Forgiven" make sure you go watch that first here: https://www.youtube.com/watch?v=wfbQm6ppEkc&t=440s
To get the planning spreadsheet mentioned in that video, get that here: https://clara-cfo-group-llc.ck.page/d5ef5d9b84
You may also want to watch "PPP Loan Forgiveness FAQs Answered" at https://youtu.be/5pFuXxeia8E
Find out more about the PPP directly from the U.S. Treasury: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses
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.