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ALEMAN96
Level 1
April 16, 2021
Question

PPP LOAN FORGIVENESS

  • April 16, 2021
  • 1 reply
  • 5 views

REAGRDING THE FORGIVENESS OF THE PPP LOAN: ONCE FORGIVEN, CAN EXPENSES USED TO SATISFY THE REQUIREMENTS FOR FORGIVENESS, BE STILL CLAIMED AS A DEDUCTIBLE EXPENSE IN THE ENTITY OR INDIVIDUAL BUSINESS TAX RETURN?? 

I AM HAVING HARD TIME UNDERSTANDING THIS!! 

HELP!

 

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1 reply

sjrcpa
sjrcpa
Level 15
April 16, 2021

Yes for federal.

For state? Depends on the state.

The more I know the more I don’t know.
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