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Daily Archives: November 15, 2020

PPP loan increases businesses taxable income, by Rolf Neuweiler, a2zCFO, (925) 216-5058 or email: rolf@a2zCFO.com

PPP Loans Affect 2020 Business Taxes

Accounting, CFO, Debt & Loan Management, Loans, TaxesBy Rolf NeuweilerNovember 15, 2020Leave a comment

Though the forgiven portion of a PPP loan is non-taxable, taxable income is also higher since payroll and other expenses are not deductible. The US Federal government doled out more than $500 billion forgivable PPP loans under the CARES Act to small businesses in order to help keep employees on payroll and pay for rent…

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