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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- PPP LOAN FORGIVENESS
PPP LOAN FORGIVENESS
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ALEMAN96
Level 1
04-16-2021
12:41 PM
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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 Comment 1
sjrcpa
Level 15
04-16-2021
12:43 PM
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Yes for federal.
For state? Depends on the state.
The more I know, the more I don't know.
