July 23, 2020
In the most current loan forgiveness application on the SBA website, the Schedule A worksheet asks for “cash compensation” but should that include health insurance and retirement costs as well?
Posted by Armanino Financial Advisory Team
No. Review the entire application, particularly Schedule A, where all payroll costs are calculated. Line 1 and line 4 ask for cash compensation from the tables. Lines 6 and line 7 on Schedule A ask for employer portion of health insurance and retirement costs. If using the EZ form, there is no Schedule A worksheet and all payroll costs, including health insurance and retirement costs, should be listed on line 1.