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<title>Asset Enhancement Solutions</title> <head> </head> <div style="text-align:center"> <div style="display: inline-block"> <table width="650" style="width:650px;padding:20px;"> <tr> <td><img src="http://assetenhancement.com/images/FENG-Sponsor-042214.gif" width="700"alt="Asset Enhancement Solutions" style="width:700px;"></td> </tr> <tr> <tr> <td> <h1 style="Times, times new romanarial; size:18px; text-align:center;font-weight:400;color:#588055">PPP Loans: Lifeline for Businesses & 1099 Recipients<br>Deadline Extended to August 8th </td> </tr> <tr> <td> <table width="650"> <td valign="top" style="width:30%;"><img src="http://assetenhancement.com/disaster-relief-loans/1099-AES.jpg" width="300" height="168" style="border:solid 2px #000000;margin:20px;"></td> <td style="width:70%;"> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;">We have discovered that many members of The FENG who are 1099 recipients are not aware they are eligible for a PPP Loan. Individuals that receive <br/>non-employee compensation via Form 1099-MISC and report this income on Schedule C of their Form 1040 U.S. Individual Income Tax Return are eligible for a PPP Loan. </p></td></tr> </table> </td></tr> <tr><td> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;">Included in this category are Sole Proprietors, Independent Contractors, Self-Employed Individuals and Single-Member LLCs. All of these taxpayers are eligible for a PPP Loan even if they do not have employees that are paid salaries. </p></td></tr> <tr><td> <table><tr><td width="70%" valign="top" style:width:70%"> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;margin-top:20px;"><strong>If Salaries are Not Paid to Employees </strong></p> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;"> The amount of the PPP Loan is determined by the amount on Line 31 of Schedule C, Net profit or (loss) from a Business. Most people will have their 2019 Schedule C completed by July 15, 2020. However, you do not have to file your 2019 Tax Return and Schedule C to obtain a PPP Loan. You can prepare it on a stand-alone basis for purposes of applying for a PPP Loan.</p> </td><td valign="top" width="30%" style:width:30%" ><img style="width:200px;margin-top:0px;" src="http://assetenhancement.com/disaster-relief-loans/sticky.jpg" alt="Asset Enhancement Solutions" width="200" height="184"></td></tr></table> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">If there is a net loss, on Line 31 of your 2019 Schedule C, you would not be eligible for a PPP Loan. .</p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">If you show a profit on Line 31 of your 2019 Schedule C the PPP Loan amount is calculated by dividing this amount by 12 then multiplying this result by 2.5. Alternatively, you can multiply the amount on Line 31 by 20.83% to derive the same amount. For purposes of calculating a PPP Loan for this category of taxpayers, the SBA has set a Cap on Line 31 of $100,000. For example, if Line 31 on your 2019 Schedule C is $300,000 your PPP Loan amount will be based on the Cap of $100,00.</p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">Following is a guide as to what your PPP Loan amount will be based on different amounts of net profit on Line 31 of your 2019 Schedule C.</p> </td></tr> <tr><td align="center""> <div style="font-family:verdana"> <table border="1" width="70%" style="margin-top:20px;"> <tr> <td align="center"><strong>Line 31</strong></td> <td align="center" > <strong>PPP Loan</strong></td> </tr> <tr> <td align="center">$10,000</td> <td align="center">$2,083</td> </tr> <tr> <td align="center">$20,000</td> <td align="center">$4,167</td> </tr> <tr> <td align="center">$30,000</td> <td align="center">$6,250</td> </tr> <tr> <td align="center">$40,000</td> <td align="center">$8,333</td> </tr> <tr> <td align="center">$50,000</td> <td align="center">$10,417</td> </tr> <tr> <td align="center">$60,000</td> <td align="center">$12,500</td> </tr> <tr> <td align="center">$70,000</td> <td align="center">$14.583</td> </tr> <tr> <td align="center">$80,000</td> <td align="center">$16,667</td> </tr> <tr> <td align="center">$90,000</td> <td align="center">$18,750</td> </tr> <tr> <td align="center">$100,000</td> <td align="center">$20,833</td> </tr> </table></div> </td></tr> <tr><td> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;margin-top:20px;"><strong>If Salaries are Paid to Employees </strong></p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">If you are a Sole Proprietor, Independent Contractor, Self-Employed Individual or a Single-Member LLC and pay salaries to employees which are captured in a W-2 and a Form 940 or Form 941,the calculation of your PPP Loan will be slightly different than that above where there were no employees. Your calculation will be as follows:</p> <tr><td align="center"> <div style="font-family:verdana"> <table border="1" width="80%" style="margin-top:20px;"> <tr> <td align="center"><strong>Line 31</strong></td> <td align="center" > <strong>Cap of $100,000</strong></td> </tr> <tr><td colspan="2" align="center"><strong>Add back:</strong></td> <tr> <td align="center">Line 26</td> <td align="left">Wages (Capped at $100,000 per employee)</td> </tr>Line 14</td></tr> <tr><td align="center">Line 14</td> <td align="left">Health Insurance for Employees</td> </tr> <tr> <td align="center">Line 19</td> <td align="left">Employee paid Retirement Plan Contributions</td> </tr> <tr> <td align="center">Line 23</td> <td align="left">SUI Taxes</td> </tr> <tr> <td align="center"><Strong>Adjusted Total</strong></td> <td align="left"><strong>Total Costs Subject to a PPP Loan</strong></td> </tr> </table> </div> </td</tr> <tr><td> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;"> To determine the amount of the PPP Loan, the "Adjusted Total" per the above is divided by 12 and the result is then multiplied by 2.5. Alternatively, you can multiply the "Adjusted Total" by 20.83% to derive the same amount. </p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">We have been reaching out to members of The FENG since April, educating you on the incredible benefits the PPP Loan Program can offer your employers or your clients. The discussion and analysis above are meant to assist individual FENG members, your friends and family who are also Sole Proprietors, Independent Contractors, Self-Employed Individuals and Single-Member LLCs. </p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">As a fellow member of The FENG I am committed to helping my fellow members receive the PPP Loans they are entitled to. Please email our PPP Team at <a style="color:#588055; font-weight:600;" href="mailto:[email protected]" target="_blank">[email protected]</a> with a phone number and a member of our 12 person PPP team will call you back as soon as possible and walk you through the process. </p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">If your employer or client still needs a PPP Loan we of course can assist them as well.</p> <tr><td> <table> <tr> <td><p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">As an Agent for multiple lenders, <strong>AES does not charge a fee</strong> for the assistance it provides which include a combination of advisory services, troubleshooting and loan processing. It is this "Triple Threat" that distinguishes Asset Enhancement Solutions, LLC from lenders that just process loans and service providers who are consulting with their clients regarding PPP loans.</p></td> <td><img src="http://assetenhancement.com/disaster-relief-loans/PPP-loan-approved.gif"width="147" height="115" style="width:147px; float:right; Margin:20px;" alt="Asset Enhancement Solutions" /></td> </tr> </table> </td></tr> <tr?><td> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">To Learn more about PPP Loans and How We Closed PPP Loans for FENG Members Who did Not Realize they Were Eligible for a PPP Loan, <a style="color:#588055; font-weight:600;"href="http://assetenhancement.com/disaster-relief-loans/FENG-Eblast-7-15-20-Detail-forPPP.pdf" target="_blank">Click Here</a>.</p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">I joined The FENG over 15 years ago after spending many years in private industry as a Controller and CFO after starting my career with KPMG. I started my consulting firm 17 years ago focused on assisting companies that have unfavorable challenges such as operational, financial or liquidity issues or positive challenges such as satisfying opportunities for rapid growth, expansion and acquisitions.</p> <p style="font-family:verdana; color:#000000; line-height:1.5;margin-top:20px;text-align:left;">Tragically, COVID-19 has created the most daunting financial challenges for businesses in our lifetime. I am reaching out to my fellow FENG members because I believe we can help! We never shy away from adversity; we embrace and thrive on it. We can Provide Creative Non-Traditional Financing Options to Solve the Financial Challenges Caused by COVID-19. <a style="color:#588055; font-weight:600;" href="http://assetenhancement.com/disaster-relief-loans/7.14-FENG-tornado.html" target="_blank">Click Here</a> to Learn More.</p> </td></tr> <tr><td> <table> <tr><td> <img style="width:600px;" src="http://assetenhancement.com/images/logo-2020-dark.jpg" alt="Asset Enhancement Solutions" width="600" height="103"> </td> </tr> </table> </td></tr> <tr><td> <p style="font-family:verdana; color:#000000; line-height:1.5;text-align:left;"> Asset Enhancement Solutions, LLC<br/> 405 RXR Plaza<br/> Uniondale, NY 11556<br/> (516) 767-0100<br/> <a style="color:#588055;" href="mailto:[email protected] " target="_blank">[email protected] </a> <br/> <a style="color:#588055;" href="http://www.assetenhancement.com" target="_blank">www.assetenhancement.com</a></p> </td></tr> </table> </div></div> </body> </html>