July 23, 2020
On the forgiveness application it specifically says that the owner’s compensation should not go on Table 1 or Table 2 of Schedule A and should be listed elsewhere. Doesn’t that hurt me when it comes to forgiveness calculations and possible Safe Harbor?
Posted by Armanino Financial Advisory Team
The amount paid to owner-employees or self-employed individuals or general partners does not go in either Table 1 or Table 2 of the PPP Schedule A worksheet; instead, that compensation is listed on line 9 of the PPP Schedule A under the heading “Compensation to Owners” and is included in total payroll costs which are summed on the next line.