Forgiven or Not?

Forgiveness is a beautiful gift! That is when you are the person that is being forgiven for something that you KNOW you did wrong. On the other hand, forgiving someone who has hurt you or done something wrong to you is not so easy but we know that when we do forgive, it is quite powerful! It releases us from the emotional burdens associated with holding the person hostage in our minds. It is draining.... as is the emotional turmoil associated with financial management and right now, with all we have going on in the world, it is very likely that our finances are being impacted. Because the government recognizes the financial impact that the pandemic has on businesses, several programs were created, including the Paycheck Protection Program (PPP)! This program was essentially created to help business retain employees (75% has to be used for payroll) and to cover some other specific expenses, such as rent or loan interest. If the funds are used appropriately, guess what the PPP can be forgiven! Well, if you received those funds and have not thought about how one might prove that the loan needs to be forgiven, I would not recommend continuing to procrastinate. The loan forgiveness application is out now! Click here for the link:

SBA PPP LOAN FORGIVENESS APPLICATION

Here are a few tips to consider, when completing your Loan Forgiveness PPP app:

*If you use a payroll service, such as Gusto (even if your bookkeeper uses it for your payroll), check to see if has an auto form in which you can plug in numbers to generate a completed Loan Forgiveness App. Gusto has one and even includes recommendations based on what you have spent thus far.

*Get FREE legal assistance or assistance from your attorney if needed to help you understand some of the language. I reached out to a group of attorneys in NC to help me understand the CARES ACT and some of the noted discrepancies I saw within the PPP terms.

*Check your accounting documents, such as Quickbooks and use those reports as evidence of your spending, along with your business checking account statements. Proof of spending is hard to argue when you see the transactions in black and white within these statements and reports.

Since forgiveness is possible, I hope you take the right steps to receive PPP forgiveness and might you also think about whom you might be able to forgive?

Tomeico Faison is a business consultant and certified business coach dedicated to helping therapy entrepreneurs create fun, profitable and service-oriented lifestyle businesses. She is on a mission to help at least one million therapy entrepreneurs in her lifetime. She partners with universities, organizations and therapists to increase therapy business ownership and leadership globally!

Click here for FREE resources on Tomeico's website and sign up for a FREE 15 minute consult: www.faisonconsulting.com

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