Small business owners

[Devin]

Trying to not get an attitude with my cpa. She wants $200 to compile the payroll info for only 2 employees. And wont be able to do it till next Wednesday....

Everything looks simple enough but she is making it sound complicated

We conferenced with our cpa this morning and they're working directly with our bank and told us the bank will likely pay any fees they have preparing this for us.

Just found this on the American Institute of CPA's,

“Agent fees will be paid out of lender fees. The lender will pay the agent. Agents may not collect any fees from the applicant.”

AICPA Statement on CPAs as Agents for PPP applications

[meltingfeather]

We are an essential business and still able to operate, luckily.
If our private side clients start pulling the plug it will mean layoffs. I'd love to furlough people if we can but until there's an end it sight we might just be sinking the ship in hopes of a turnaround.
Tough times.

[texan4ut]

Real Estate Appraiser here. I do only appraisals for VA loans. March was crazy good so I have money billed out that will be coming in, April is starting pretty good. With the rate drop some Veterans are refinancing so that is good. Williamson County has not put a stop to residential or commercial constructions. So homes already under contact continue to be built. Since VA doesn't allow the appraisal to be done till the house is nearly finished hopefully that business will still be there. Travis County has stopped residential and commercial construction. I heard they are making some concessions on under contract homes that are already started. If I have too I will sell my house, build me a small home on 10 acres my Mom gave me and survive. Prayers this thing gets turned around and everyone can get back to work. I feel once the economic wheels start turning the train will roar to life and the economy will soar

[bloodtrailer28]

Real Estate Appraiser here. I do only appraisals for VA loans. March was crazy good so I have money billed out that will be coming in, April is starting pretty good. With the rate drop some Veterans are refinancing so that is good. Williamson County has not put a stop to residential or commercial constructions. So homes already under contact continue to be built. Since VA doesn't allow the appraisal to be done till the house is nearly finished hopefully that business will still be there. Travis County has stopped residential and commercial construction. I heard they are making some concessions on under contract homes that are already started. If I have too I will sell my house, build me a small home on 10 acres my Mom gave me and survive. Prayers this thing gets turned around and everyone can get back to work. I feel once the economic wheels start turning the train will roar to life and the economy will soar

Will Abbots ruling this week all construction in Travis has resumed. We are still going strong but i know we will feel it soon enough.

[ClayW]

Have my LLC but no employees or mortgage...so with this, I could pay for electrical & water only??

Healthcare or insurance?

[yaqui]

I'm a self employed designer/fabricator. I've already had tens of thousands of dollars worth of projects cancelled or put on hold. The real sh*tty part is I signed a new lease on a larger shop space a month ago...move-in day was yesterday. Now, not only is the money not coming in, I'm also hemorrhaging money on the the back end. Doing my best to spend some quality time with my girls to keep the gray hairs at bay.

Have you applied for the SBA loans and such?

[crumrw]

Have you applied for the SBA loans and such?

Yes, just got in my application for the Economic Injury Disaster Relief loan today. We'll see what happens <fingers crossed, and lots of prayers>

[Charles]

Yes, just got in my application for the Economic Injury Disaster Relief loan today. We'll see what happens <fingers crossed, and lots of prayers>

Just an FYI for you...The Garland Chamber of Commerce is an excellent resource and help with all the different Grants, Loans and Assistance programs available. I'm pretty sure they can help with the application process too.

[miket]

If yall dont mind me asking, what is yalls CPAs charging to get the reports needed for the PPP?

Mine is wanting $200 and cant do it till Wednesday.

Seems an awful long time and money for 2 employees. All the info is already there. Just need to pull it and copy. Just need form 940, 941 or 944 and basically paycheck stubs. We dont have the retirement, pto etc stuff. Very simple

[Charles]

If yall dont mind me asking, what is yalls CPAs charging to get the reports needed for the PPP?

Mine is wanting $200 and cant do it till Wednesday.

Seems an awful long time and money for 2 employees. All the info is already there. Just need to pull it and copy. Just need form 940, 941 or 944 and basically paycheck stubs. We dont have the retirement, pto etc stuff. Very simple

You should be able to do it yourself. That's assuming of coarse you have your payroll reports in your possession, which you should.

[miket]

You should be able to do it yourself. That's assuming of coarse you have your payroll reports in your possession, which you should.

I dont. They do my payroll and have never really thought about it. Looks like that was a mistake, seems I have to pay to get them...

[Mexico]

If yall dont mind me asking, what is yalls CPAs charging to get the reports needed for the PPP?

Mine is wanting $200 and cant do it till Wednesday.

Seems an awful long time and money for 2 employees. All the info is already there. Just need to pull it and copy. Just need form 940, 941 or 944 and basically paycheck stubs. We dont have the retirement, pto etc stuff. Very simple

Mine was going to do it for free, I insisted she take something for her time. She charged me 50 bucks and had it submitted within an hour. This is for the Economic Disaster Relief not the PPP.

[Leemo]

You should be able to do it yourself. That's assuming of coarse you have your payroll reports in your possession, which you should.

This

[miket]

Mine was going to do it for free, I insisted she take something for her time. She charged me 50 bucks and had it submitted within an hour. This is for the Economic Disaster Relief not the PPP.

Thats more in line with what Im thinking. And yours is more employees and requires more info than PPP.

Paying is not an issue, we all have to make a living but needs to be reasonable. What bothere me more, honestly, is not being available till Wednesday. I have heard the money is moving real fast. Nervous I will miss the boat

[Leemo]

Thats more in line with what Im thinking. And yours is more employees and requires more info than PPP.

Paying is not an issue, we all have to make a living but needs to be reasonable. What bothere me more, honestly, is not being available till Wednesday. I have heard the money is moving real fast. Nervous I will miss the boat

No need to worry, you have time
I’m doing mine Tuesday at Prosperity Bank