As the confusion continues during the roll-out of available loans to small businesses seeking financial relief, experts are diving in to explain some of the questions and potential solutions that legislators can provide. Two hearty-bite recommendations for your post-lunch break:
Paycheck Protection Program, Explained
From Vox: an excellent analysis of the Paycheck Protection Program (PPP). I highly recommend this article, which takes the time to discuss the CARES Act in clear language with plentiful sourcing, from the Act's similarity to a similar program in Denmark, to hypothetical issues and actual dilemmas from real business-owners, and illustrates challenges in the two countries' differing approaches to helping small businesses.
PPP Questions That Need Answers
From Forbes: An in-depth piece on three nagging questions within the CARES Act:
- Do payroll costs include payments to independent contractors?
- How do you apply the '$100,000 per-person cap' on compensation?
- How do you calculate and apply withholding and taxes on compensation?
Have a question about the CARES act? Want information about a particular part of the law? Email us at cares@wlvt.org.