My PPP was deposited into my personal bank account! What do I do?
Did your bank deposit your PPP loan into your personal bank account instead of a business bank account? If so, this video is for you! Learn what you need to do, what you can spend the money on, and what documentation you need to save! This video can be applied to Sole Proprietors, Independent Contractors, Gig Workers, and Self Employed.
The "PPP1 and PPP2" tab of this spreadsheet can also be helpful in calculating your best timeline to pay yourself: https://claracfo.podia.com/ppp-budget-planning
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🙋♀Got Employees? Need a payroll company that knows what small businesses need? We recommend Gusto as the best small business payroll provider. Sign up and receive a $100 gift card after you run your first payroll: https://claracfo.com/gusto
🏦 Need Forgiveness for your PPP loan? We recommend Upside Financial to get help with your PPP forgiveness paperwork and application. Get $100 off their service here: https://claracfo.com/upside
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group.
Find out more about Clara CFO Group at https://claracfo.com/
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.