146. Restaurants Screwed Again | PPP Loan Tax Deductions Denied by IRS
Dec 7, 2020 ·
37m 26s
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
Description
As if restaurants weren't getting screwed already... The IRS has said that while PPP loan forgiveness is tax-free, borrowers may not deduct expenses covered by the proceeds. On the other...
show more
As if restaurants weren't getting screwed already... The IRS has said that while PPP loan forgiveness is tax-free, borrowers may not deduct expenses covered by the proceeds. On the other hand, lawmakers have proposed legislation that will permit the write-offs. A $908 billion emergency relief framework unveiled this week allots $288 billion toward PPP, and includes “restaurants, stages and deductibility.”
show less
Information
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
Comments