PPP Expenses are Now TAX DEDUCTIBLE | Learn How

Описание: Whether your business is a Sole Proprietorship, Partnership, S-Corp, or C-Corp, your expenses from your Paycheck Protection Program are now tax-deductible. Make sure on your return to treat the PPP loan money, assuming you've applied for forgiveness, as you would any other non-taxable income. It will therefore end up on your schedules M-1 and M-2. Watch Larry Gray, CPA and Debbie Cook, CPA as they explain how this works in greater detail.


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AGC Solutions does not provide tax, legal or accounting advice. This content has been prepared for informational purposes only and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Also, tax law is ever-changing and every effort should be made to seek out the most current information. Make sure to check date of published content to ensure most current information.