asfenbikes.blogg.se - Monthly expense calculator

Important: If your PPP-covered period does not convert to whole months, the calculator will account for a percentage of the monthly expenses in the month that is a remainder. For example: If your Covered Period is 22 weeks and you have one monthly expense of $100, the calculator will do the following math: 22/4*100=$550. Notes – Provide any notes you need to remember about the expense.Expense Amount – Enter an amount for the expense.Expense Description – Enter a description for the expense.One-time expenses should be listed in the second section. There are two sections to this sheet. The first section is Monthly Expenses. Enter reoccurring monthly expenses that qualifying for PPP. The calculator supports up to 300 Employees. Life – Enter the amount paid by the employer toward life insurance per pay period.Dental – Enter the amount paid by the employer toward dental each pay period.Retirement – Enter the employer contribution toward retirement per pay for the employee.Total qualified wage ERTC – This is a calculated field, DO NOT enter anything.Health Insurance – Enter the amount paid by the employer toward health insurance per pay period.Wage per pay – This is a calculated field, DO NOT enter anything.Hours – Enter in the number of hours scheduled per pay period. If the employee is salary, enter in 1.If paid salary, enter in the salary amount for the rate. Rate – Enter each employee’s hourly wage.Employee – Enter in each employee’s name.Due to varying circumstances, you may have applied more than $10,000 in a quarter to ERTC for an employee in 2021 or exceeded the maximum $10,000 per employee for all quarters in 2020. This value represents the total amount of wages that were more than the ERTC cap depending on which year you are evaluating. ERTC Unqualified Wages Applied – For 2021, the maximum you can claim is $10,000 per employee, per quarter. For 2020, you can claim up $10,000 per employee across all quarters excluding any pay periods occurring before March 13, 2020.ERTC Paid by Business – Total business will ultimately pay for ERTC-eligible wages.Please note: for 2020, you can only apply ERTC to payrolls after March 13, 2020. For 2020, this is 50% of qualified wages for Q1, Q2, Q3, Q4. For 2021 this is 70% of qualified wages for Q1 and Q2. ERTC Credit Owed – Estimated expected refund based on total qualified wages.For 2020, it is the total qualified ERTC wages for Q1, Q2, Q3, and Q4 combined. ERTC Qualified Wages (Q1,Q2,Q3,Q4)– Total Qualified Wages per quarter for 2021. Seperated by quarter to support “severely distressed” calculation.Total PPP Retirement Expenses – Total PPP money spent on retirement expenses.

Total PPP Health Insurance Expenses – Total PPP money spent on health insurance expenses.

PPP Percent Operating Expenses – Percentage of loan applied to qualified operating expenses.

PPP Percent Payroll Expenses – Percentage of loan applied to payroll.

PPP Covered Period End Date – Date by when funds must be spent.

PPP Covered Period Start Date – Date funds were deposited.

PPP Fund Remaining – How much of your PPP loan you have remaining to allocate to either operation or payroll expenses.

PPP Fund Spent – This is how much of your PPP loan you have allocated to either operating or payroll expenses.

Below is an explanation of each summary item. There are no values to fill in on this sheet. Please note: You can only model one year at a time. You must save two separate calculators for 20. If you qualify for the “severely financially distressed employer” benefit, change the value to 100% in the qualifying quarters (Q3 or Q4).

Enter the ERTC % credit you are eligible for in 2021.

Enter the number of weeks you are electing as your covered period. For PPP 2, you can choose up to a maximum of 24 weeks.

Enter the start date for your PPP Term. This is the day your loan funds were deposited into your account by your bank.

Enter your pay interval. Most business operate on a weekly or bi-weekly basis. So, for most, this value will be either 7 or 14.

Enter in the First Pay Period of Q1. This is the first day in Q1 where funds were removed from your business checking account to pay payroll.

Enter in the PPP Fund amount. This is how much you were approved for/received for the covered period you want to model.

You will break the calculator and have to start over Settings and Directions Tab Cells in other colors contain formulas. Do not type in those areas. Most importantly, all yellow fields expect you to input a value.