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The Paycheck Protection Program is now open to 1099 workers and independent contractors, of whom there are over 23 million in the U.S.. There has been a lot of confusion around how independent contractors interact with this program, and not a lot of guidance from the SBA or Treasury. In a virtual town hall hosted by Inc., a panel of experts shed some helpful light on this murky area. Panel: Kimberly Weisul, Inc. editor-at-large (Moderator) Neil Bradley, Executive...

14 April, 2020

There has been a lot of confusion around how independent contractors engage with the Paycheck Protection Program.  See, for example, this letter to Treasury Secretary Mnuchin y Forbes Senior Contributor Tony Nitti delineating some vexing points. To clarify, independent  contractors are not included in an employer's PPP loan amount. "As an employer and borrower, what you pay independent contractors and 1099s does not count toward your payroll cost in calculating how much you can borrow and how...

07 April, 2020