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Reagan1k

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  1. No argument there. I want to mount one on the back of an old, open top Jeep and live out the Rat Patrol fantasies of my youth.
  2. I'd need the extra ammo if I had a bucket-list purchase of the civilianized SAW in that same auction.
  3. I think there are some restrictions - you have to be a qualified person (diagnosed, spouse or dependent diagnosed) or loss of employment / furlough, lack of childcare requiring unpaid time off, etc. We are still working and none of my people are sick (yet) so currently no one in my group is "qualified", so it hasn't come up thus far.  A coronavirus-related distributions. is defined as any distribution from an eligible retirement plan or IRA made on or after January 1, 2020 and before December 31, 2020, to an individual (“Qualified Individual”): • Who is diagnosed with the virus SARS-CoV-2 or with coronavirus disease 2019 (COVID-19) by a test approved by the Centers for Disease Control and Prevention, or whose spouse or dependent has been so diagnosed; or • An individual who experiences adverse financial consequences as a result of being quarantined, being furloughed or laid off or having work hours reduced due to such virus or disease, being unable to work due to lack of child care due to such virus or disease, closing or reducing hours of a business owned or operated by the individual due to such virus or disease, or other factors as determined by the Secretary of the Treasury (or the Secretary’s delegate).
  4. Am I right that PPP loan/grant participation negates Employee Retention Credit (no double dipping)?
  5. Agreed. I'd hate to be a new customer or a checking account only type that doesn't have name recognition or a history with above.
  6. I think the only thing one can do in times like this is to knock them over with easy to use information. I'd been compiling documents for the last few days based on his emails and other white papers / opinions I'd gathers from various sources. When our bank's "final requirements" came out late last night, I had that information and more already on hand. No different than many others I'd presume. Hopefully it'll make his job easier and thus speed up the process as best it can. All I can do is to make sure I'm not creating any hurdles from my side. His dealings with funding mechanics are out of my control.
  7. My banker has been very good about keeping me up to date. Based on his email flow he's working crazy hours (for him) as stated above. Clearly relationships matter during this. As Troph said - his interest isn't about making these specific loans....it's about fulfilling his prior promises of "being there" and in the getting these done so he has businesses to call on when this is over.
  8. All those old Block Buster late fee account holds would come home to roost.
  9. Hope you're right. I have some buddies there sweating bullets right now; probably like a lot on this board are doing. Where did you see that reported?
  10. Correct - for the purpose of the 2.5x calculation, you exclude any compensation above $8333 per month per individual employee.
  11. Yep - With respect to calculating the 2.5x grant/loan amount I think it's fairly clear in that document that state and local payroll taxes are included - but "payroll taxes"- presumed to be Federal- are excluded. EXCLUDED Payroll Cost: 1. Compensation of an individual employee in excess of an annual salary of $100,000, as prorated for the period February 15, to June 30, 2020 2. Payroll taxes, railroad retirement taxes, and income taxes INCLUDED Payroll Cost: 1. For Employers: The sum of payments of any compensation with respect to employees that is a: • salary, wage, commission, or similar compensation; • payment of cash tip or equivalent; • payment for vacation, parental, family, medical, or sick leave • allowance for dismissal or separation • payment required for the provisions of group health care benefits, including insurance premiums • payment of any retirement benefit • payment of state or local tax assessed on the compensation of the employee
  12. Are federal payroll taxes really included? I thought I read a white paper yesterday that said state and local but did not include Federal. I know this thing has been fluid and peoples' interpretations are varied / changing. Any information on the Federal stuff being included is appreciated.
  13. Damn - That would make for a good beginning to an intriguing novel or Law and Order episode. I hope your group survives his antics and that he moves on.
  14. How bad does it have to be to get hauled off from Celebrate Recovery in handcuffs? Good grief. Our ilk tend to work at this to get out of handcuffs- not go into them. Hopefully cooler heads will prevail and your group comes out of this unified and reinvigorated by the experience as a result of applying the steps and traditions.
  15. May have been covered above- forgive me if so, but am I reading this CARES Act correctly that in calculating the average monthly payroll number you exclude compensation above $8333/mo ($100k) for each individual or is it saying that you exclude all payroll cost for each $100k employee. I hope it’s the former.
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