August 4, 2020
What is the maximum forgiven payroll compensation amount for a self-employed person? (Please review definition of self-employed person.)
Posted by Armanino Financial Advisory Team
For an eight-week loan Covered Period, a self-employed person may submit the lower of $15,385 or 8/52nd of 2019 compensation. For a 24-week period, the amount is the lesser of $20,833 or 2.5 months (2.5/12) of 2019 compensation.