United States: States Allowing Borrowers To Deduct Business Expenses Paid With Forgiven PPP Loan Proceeds - Lewis Brisbois Bisgaard & Smith LLP

United States: States Allowing Borrowers To Deduct Business Expenses Paid With Forgiven PPP Loan Proceeds - Lewis Brisbois Bisgaard & Smith LLP

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In determining their taxable income for federal income tax purposes, borrowers of Payroll Protection Program (PPP) loans now can deduct qualifying business expenses they paid with forgiven PPP loan proceeds.

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