USA Sports Coach + PPP

May 4, 2020
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United States
Hi All,

First time poster so PLEASE go easy on me. I have looked through the forum here and it seems like a wealth of knowledge (insert butt kissing emoji). I am looking for a little info on PPP. My account says I have to go to the banks for info and the bank said I should ask an accountant (I'm assuming maybe that means no one quite knows!). Anyways, here is the basic info (I can go more indepth if you need):

1. I am a sports coach that is paid through a 1099
2. Given Covid19 right now no one is ont he fields so I applied for and received PPP (whewww)
3. I moved it in to it's own separate account so the government can see where the money is coming from and will be keeping records on when I make payments to myself.

1. It does NOT look like this money is taxable income? Does that mean that when I go to file taxes next year it will not show up on my INCOME taxes? I ask this because as a 1099 I pay quarterly and I need to make sure I save a certain amount.
2. Over the next 8 weeks I should use more than 75% for payroll which will forgive the loan in its entirity, correct? If not, one thing I have read is to give myself a "bonus"... Is their a way I should calculate?

Thanks in advance all... if anyone needs soccer help with their kids I'm your guy... if they need math... not so much!


Werner Reisacher

VIP Member
Jun 30, 2017
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The money you received under this program is either a repayable loan or a forgivable grant.
You can use these funds as a substitute for "the $ amount of the payroll payments you would have received during a period of 8 weeks" The total amount must be at least 75% of the total amount of the funds you received. The payroll you have lost is computed based on your 2019 tax filing.
Sorry, there is nothing like a Bonus under this program.
You will find all further details if you google "PPE loan self-employed SBA"
Stay safe and keep your legs in shape.

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