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Paycheck protection for sole proprietor with no employees or payroll

I can apply for the PPP loan as a sole proprietor and supposedly receive 2.5 months of income which is reported on my schedule C. But, when I go to fill out the application, it stipulates at least 25% has to go toward payroll for loan forgiveness. How do you prove you applied towards payroll when you’re the sole employee and have no payroll?? 

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Re: Paycheck protection for sole proprietor with no employees or payroll

Technically your pay yourself and are 1 employee.  That's what I have been advised through a finance guy.  You should use a separate account to receive the funds for accounting purposes. PAY yourself from that account!

Message 46 of 48
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Re: Paycheck protection for sole proprietor with no employees or payroll

You are your own payroll.
Message 47 of 48
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Re: Paycheck protection for sole proprietor with no employees or payroll

Changed to 60%
Message 48 of 48
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