Ppp and Pua – Which One I Chose and Why (For Now) #Ppp #Pua
Bank of America PPP Loan Templates
- Loan Amount
- Requirement documentations
- PPP Application
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Check out my other CARES ACT videos on PPP and PUA:
https://www.youtube.com/playlist?list=PL534wgjDzBN7vr7GRXXCHz3-Grh0Zq64x
PPP and PUA are available to sole proprietors and self-employed. If you are lucky enough to get in and get approved, what do you do next if you have access to both all of a sudden? Or, could you access both?
After PPP has a second round of funding, my bank contacted me to move forward with the process. What should I do with PUA then? The easy answer is that you need to choose one, or the other – not both. However, another video on YouTube with a certified CPA shed new light on the possibility of having both (and she’s not wrong either).
Technically speaking, you CAN report your PPP as income on your weekly PUA questionnaire. To play it safe, it’s easier for me to rely on PPP for 8 weeks, and then reconsider PUA after that if I still need it. The choice is yours – and it’s up to you to walk the line, play by the rules. What if the rules aren’t so clear? If you have a CPA, give them a call or drop them an email. Be prepared for answers that won’t be super straightforward.
👑Meanwhile what I can do is to keep pushing content creation and building my business online. If you want to learn more about how I’ve been teaching others on YouTube, check out our livestreaming playlist.