PPP Loan Update

Whether expenses paid with PPP funds are deductible or not is an issue that is still undecided. https://www.journalofaccountancy.com/news/2020/dec/expenses-used-for-ppp-loan-forgiveness-deductible-or-not.html?fbclid=IwAR0ER6d43YfrbvhtSvwYr-n8CxvQvGZ25A-T7N5xqSBoIHG_Zh9BKpx5QS0  

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New FAQs address PPP loan forgiveness issues

The U.S. Small Business Administration (SBA), in consultation with Treasury, released guidance Tuesday answering 23 frequently asked questions regarding the forgiveness of Paycheck Protection Program loans.

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