PPP Loan money

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  1. The Covered Period is 8 weeks, not 2.5 months, from the day you first receive the funds.
  2. This is not necessary. As long as you keep good records, you can pay payroll out of your usual account then reimburse yourself for the approved expenses out of the PPP account.
  3. To optimize your chances at maximum forgiveness, you should pay them at least 75% of their usual full-time wages. You can see how much you can reduce their wages by using a spreadsheet like this or one of the online tools.
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