July 23, 2020
If we don’t have a salary or FTE reduction, can we get forgiveness for utilities and mortgage interest?
Posted by Armanino Financial Advisory Team
Yes. The reduction factors potentially reduce total forgiveness but do not specifically block forgiveness for non-payroll costs. Assuming your salary costs are at least 60% of the total amount forgiven, you’ll have up to 40% of the amount forgiven left to allocate to other non-payroll allowable expenses.