Month: May 2020

The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, PPP expenses are not deductible if both: –  The payment of the expense results in forgiveness of a loan made under the PPP. –  The income associated with the forgiveness is excluded … Continue reading “Forgiven PPP Expenses Aren’t Deductible”