mschiavo14
Level 2
03-21-2021
01:24 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In Virginia, SB 1146 was signed into law on March 15. This law excludes forgiven PPP loans from taxable income but decouples from the federal expense deduction allowance, instead offering a state-specific deduction for up to $100,000 in expenses paid for using forgiven PPP loans. Is there going to be a software update to accommodate this?
sjrcpa
Level 15
03-21-2021
01:25 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Probably.
The more I know the more I don’t know.
BobKamman
Level 15
03-21-2021
02:19 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Eventually