PPP expenses - Spidell

PPP expenses

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Message Board › PPP expenses

  • This topic has 1 reply, 2 voices, and was last updated 2 days ago by Mary Cheek.
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    • January 13, 2021 at 11:26 am #287123
      Anonymous
      Member

      Can we deduct these against income? What was the final rule?  Do the funds need to be recognized as income?

    • January 13, 2021 at 11:36 am #287136
      Mary Cheek
      Participant

      PPP is not taxable income on federal, but taxable on state.  PPP expenses are deductible on both.

       

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