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PPP

How Taxes Work for PPP Loans

December 22, 2020 by nelson.cpa

PPP loans and PPP tax accounting blog image

Sometime in the next few days, the Paycheck Protection Program, or PPP, will restart. We’re just waiting now for the President to sign the bill the House and Senate already passed. For the millions of small businesses who have borrowed PPP money, the new law includes a windfall. The PPP loan money now counts as […]

Filed Under: Business tax returns, PPP

Avoiding Taxes on PPP Loan Forgiveness

November 30, 2020 by nelson.cpa

needle and thread image for PPP loan forgiveness post

How a PPP borrower fills out the 3508 forgiveness application matters for taxes.

Filed Under: Business tax returns, PPP

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