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4/14/2020 · First Draw PPP Loan If You Have No Employees. If you are self-employed and have no employees, the SBA provides the following instructions in the guidance provided January 6, 2021 for new PPP loan borrowers: Step 1: Find your 2019 or 2020 IRS Form 1040 Schedule C line 31 net profit ;· No calculation on the PPP application will involve payroll, because you don’t have employees, and thus no payroll numbers for you or others will exist. Again, paying others with a 1099 is not Since then, changes have been made to make PPP loan forgiveness for the self-employed easier to obtain. Forms 3508S and 3508EZ are simplified versions of form 3508 The self-employed can use either simplified version to make applying for PPP loan forgiveness a ;· In short, if you took out a PPP Loan as a self-employed individual with no employees, you can absolutely have your loan forgiven—here’s how to know if you qualify. You must have been harmed by

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