Noble Business Services, LLC

Blog categorized as Tax Tips

PPP Loan Forgiveness Becomes Top of Mind for Small Business Owners

This year has been a doozy for business owners and, with the end of it just around the corner the last thing you likely want to do is take a walk down memory lane through it's challenges.  But that's exactly what I'm asking you to do as you read this article, so please sit back (hopefully with ...

Haylee Kurka
17.12.20 02:24 AM - Comment(s)
IRS Destroys Deduction for PPP Paid Expenses

When lawmakers originally passed the PPP they thought that under its provisions

  • you did not pay taxes on the forgiveness amount, and
  • you also could deduct the expenses that you paid with the PPP money.

Obstacle

In late April, the IRS issued Notice 2020-32, which asserts that PPP loan recipients may not ...

Haylee Kurka
16.12.20 11:07 PM - Comment(s)