I have a contrarian opinion about the payroll protection part of the cares act. It gives you 2.5 months of your payroll as loan which...later will be forgiven if you can show it was necessary. Everyone I know is taking it, regardless of whether they need it. Bad idea, IMHO.
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Shit like this is why I didn't take the PPP money. Ain't no such thing as a free lunch. Stay the fuck away from government. More often than not, they'll hurt you more than they'll help.pic.twitter.com/gHopRJVudo
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I wonder how many aren’t prepared to get very little or none forgiven and are going to realize quickly a 2 year amortization can equal a very big payment
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Could totally happen.
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it’s only forgiveable if you can show you used 75% of it on payroll, and use it up within a few weeks of getting the loan. Other costs don’t count towards forgiveness.
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We don’t know how the govt will handle it. Obamacare seemed simple easy and good when it was passed too.
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