PPP Funded Expenses

As small businesses submit their PPP fogiveness applications, many accountants have realized there will be no difinitive answers before the 2021 tax season opens. We know that the monies recieved from the PPP is not taxable income. But what about the expenses paid with that money? The IRS has again, doubled down on nondeductible expenses.

Partial Shutdowns Benefit PPP Forgiveness

PPP Loan Forgiveness