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5 Pivotal Business Hygiene Lessons Learned From the PPP


A 30, 60, or 90-day cash flow forecast
Updated tax filings 
2. Pay yourself.
As many sole proprietors discovered when applying for a PPP loan, not paying themselves a salary or even paying themselves too modestly, came back to bite them. The PPP is, at its core, a payroll support program. So if you didn t have much of a payroll that is, you didn t pay yourself well or you primarily hired 1099 contractors, among other reasons you didn t qualify for as much. This is the reason why some founders landed $1 PPP loans, for instance. 
While there s no telling now if this program will get trotted out again in a future crisis, it just might. So, do your future self a favor and cut yourself a decent check. You can dump [it] right back into the business if you need to, says Chelsie Kugler, vice president of business development at CFOshare, an accounting firm based in Denver. But giving yourself a paycheck, and keeping a record of it, should be a priority, she says ....

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