Episode 255: Ryan Vaughan on how independent consultants can access the Paycheck Protection Program

April 8, 2020

Today’s episode is a recording of a webinar that I facilitated on April 8, 2020, attended by 80 independent management consultants.

Ryan Vaughan is a Tax Director at Mazars, a leading global accounting firm, and he answered our questions about the Paycheck Protection Program.

Ryan first provides a general overview that pertains to all businesses, and then he gets into our detailed questions about how independent consultants can access the Paycheck Protection Program. Some of our key questions included:

  • If we aren’t W2 employees of our own firms, how do we demonstrate “payroll” to ourselves
  • How much of a loan should we be eligible for
  • How does the loan forgiveness work
  • The practical steps of applying for the loan
  • Starting around the 45 minute point, we touch more briefly on the Small Business Administration Economic Injury Disaster Loan.

In the first part of the discussion, Ryan reviews several pages of a slide deck. We’ve posted that document on the Umbrex website, and here is the link.

In this episode, Ryan zips through the highlights of the slide deck in about 10 minutes. He’s also done a full hour webinar on that deck: watch it here.