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The Paycheck Protection Program ( PPP) is a $953-billion business loan program established by the United States federal government during the Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help certain businesses, self-employed workers, sole proprietors, certain nonprofit organizations ...
Now those efforts have paid off, as PayPal, Intuit and Square have all been approved to participate in the U.S. Small Business Administration’s (SBA) Paycheck Protection Program, which provides ...
Payroll loans are business loans that help businesses cover payroll and other employee costs. You may need to state that you're using the funding for payroll when applying for the business loan ...
The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%). Employers are allowed to deduct a small percentage of an employee's pay (around 4%). [7] Another tax, social insurance, is withheld by the employer.
In 2020, Gusto has built more than 50 new products in the last year directed toward helping small businesses. Releases included customizable payroll reports, a simplified Paycheck Protection Program (PPP) Loan Forgiveness tracker and a streamlined PPP application report that’s been downloaded more than 80,000 times to date. Nationwide, Gusto ...
Payroll Integrations, meanwhile, integrates with payroll and 401(k) providers, including ADP, Paychex, Empower and Transamerica. It also reached a milestone of processing 1 million employee ...