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How to pay yourself with PPP loan as a self-employed or independent contractor

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Do you know you can pay yourself with a PPP loan as a sole proprietor or independent contractor in 2021?

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You can pay yourself in PPP funds by using what’s known as owner compensation share or proprietor expenses. This is to compensate you for a loss of revenue from your business.

You must use a protected time of at least 11 weeks to get the entire amount of owner compensation share.

Watch video by Clara CFO Group below:

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