Can a corporate taxpayer decide to select qualified PPP expenses during the latter weeks of the 24 week covered period? For example, a 6/30 year-end taxpayer received their PPP loan in May 2020 and has until October 2020 to use the funds on qualified expenses. Since they had a highly profitable year ending 6/30/20 they would like to take the expenses during May and June as a deduction to lower taxable income. The next fiscal year revenues are very uncertain so they would rather be denied the deduction for the expenses during July – October due to loan forgiveness. Is this approach acceptable or is there something within the law that would require the taxpayer to account for qualified expenses immediately after receiving the PPP funds?