Re: PPP LOAN FORGIVEN

ALEMAN96 · ‎03-22-2021

PPP LOAN: LOAN IS FORGIVEN AND ALL FUNDS WERE USED TO COVER PAYROLL EXPENSES.

CAN YOU STILL CLAIM THE PAYROLL EXPENSES USED TO SATISFY THE FORGIVENESS OF THE LOAN AS A DEDUCTIBLE EXPENSE IN THE BUSINESS TAX RETURN?

dd4vols · ‎03-22-2021

Yes. and the Non-Taxable SBA PPP funds incomes are an M-1 adjustment on corporations and partnerships.

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PPP LOAN FORGIVEN

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