December 17, 2020

Small business owners will not be able to claim a deduction for otherwise deductible expenses if they were paid for by funds from a PPP loan. However, Congress says they are committed to addressing this issue by the end of the year.

November 30, 2020

While the Paycheck Protection Program (PPP) has been a lifeline for small businesses, it also comes with a variety of tax implications including questions surrounding whether or not forgiven loans are taxable or can be counted as grants.