About Us
We have more than twenty years of accomplishments in business development, operations and financial management, a proven record of team building, strategic partnering, retail management and long term planning,
Our services include:
Financial Analysis, Business Plan Creation, Getting the Most Out of Your Accounting Software, Organization of New/Existing Businesses, Reformatting Financial Statements, Budgeting and Cash Flow Forecasting and more.
Recommendations Received (9)
"Hey Herb thanks for sending me the
Link for alienable. Hope all is well with you. "
"Herb has the intelligence, integrity and work ethic that can benefit any business. "
Products & Services
Recent Activity
I've developed a spreadsheet to analyse PPP Payroll and other costs. It also keeps track of FTE (Full Time Equivalent) and the related calculations around that, which can reduce the forgivable portion. It sound simple, but it's NOT. Keep in mind that, unless everyone at your company works 40...
(more)
I've developed a spreadsheet to analyse PPP Payroll and other costs. It also keeps track of FTE (Full Time Equivalent) and the related calculations around that, which can reduce the forgivable portion. It sound simple, but it's NOT. Keep in mind that, unless everyone at your company works 40 hours a week, HEADCOUNT does not Equal FTE.
You also need to watch when the 24 weeks ends. You may have to process a short payroll period to easily get to the costs incurred in those 24 weeks. Most of my clients will run out of their PPP funds well before the 24 week period ends. That's because the original thought was 8 weeks coverage.
Frankly, it's clear they didn't think this through very thoroughly. In my area of California the restaurants have yet to open for inside dining. 8 weeks of coverage for them meant literally nothing, because they could not spend the funds.
I'm happy to share that spreadsheet with anyone and I even answer limited questions about it. If you would like it, just drop me an email to Herb@gottliebandassoc.com and I'll forward it on to you.
Herb
Given you receive a PPP Loan, one of the more complicated calculations is what is called FTE (Full Time Equilvalent) counts. There are two periods that you can use to establish your Base FTE count. 1. February 15, 2019 through June 30, 2019 and 2. January 1, 2020 through February 29, 2020. You...
(more)
Given you receive a PPP Loan, one of the more complicated calculations is what is called FTE (Full Time Equilvalent) counts. There are two periods that you can use to establish your Base FTE count. 1. February 15, 2019 through June 30, 2019 and 2. January 1, 2020 through February 29, 2020. You can use either of those time periods, clearly you want to use the one with less FTE count. IMPORTANT: FTE is NOT equal to headcount.
If your current FTE is less than your Base Period the forgivable portion of your PPP is reduced. If you current FTE is equal to or more than your base period it is ALL forgivable. Another noteworthy item is that in the event you offer employment, in writing, to a former employee and they decline you can add them back as an FTE count. The key here is "written and declined offer." If you add new employees they will count as well.
I have developed a spreadsheet to assist in the calculation of FTE as well as qualified expenses, which are very limited, and cannot exceed 40% of the funds used for payroll. Send me an email to Herb@gottliebandassoc.com and I'll send you to spreadsheet.
Good luck, Herb
1 Reply
Seems like what you said makes sense and I applied for a PPP Loan based on 1099 income. Although, I did receive assistance, it was based on my tax return Schedule C. Calculation was as follows: (Schedule C Net Income divided by 12 months) x 2.5. What my personal result is help paying rent and...
(more)
Seems like what you said makes sense and I applied for a PPP Loan based on 1099 income. Although, I did receive assistance, it was based on my tax return Schedule C. Calculation was as follows: (Schedule C Net Income divided by 12 months) x 2.5. What my personal result is help paying rent and utilities. Every little bit helps in these crazy times.
I believe it is up to your bank to approve/deny your application. If, you have a good relationship with your Bank and a Banker they will be happy to assist.
