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Archives for August 2021

Treatment of Business Expenses Paid with PPP Loan Funds

August 20, 2021 by Brian Baum, CPA

Treatment of Business Expenses Paid with PPP Loan Funds

In December 2020, Congress passed the Consolidated Appropriations Act, 2021. The Act includes the COVID-related Tax Relief Act of 2020, which provides for the full deductibility of business expenses paid with PPP loan funds. A Refresher: What are PPP Loans? As a reminder, the Paycheck Protection Program (PPP) is a Small Business Association (SBA)-backed loan […]

Filed Under: COVID-19

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