![United States: States Allowing Borrowers To Deduct Business Expenses Paid With Forgiven PPP Loan Proceeds - Lewis Brisbois Bisgaard & Smith LLP](https://cdn.newsserve.net/ONPglobe256.png)
United States: States Allowing Borrowers To Deduct Business Expenses Paid With Forgiven PPP Loan Proceeds - Lewis Brisbois Bisgaard & Smith LLP
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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