Tag Archives: PPP loan

Can You Be Taxed on Your PPP Loan?

In their desperation to keep employees on payroll and remain afloat, many small business owners applied for the Payment Protection Program (PPP) without thinking twice. The benefits of this program are obvious: businesses that spend the majority of procured funds on payroll may qualify for complete loan forgiveness. Now that PPP funds have been disbursed, […]

The Latest in the Fight Over PPP Loan Forgiveness

In the height of the economic fallout of COVID-19, many small businesses looked to the Paycheck Protection Program (PPP) as a means of staying afloat. Those approved for the program were promised loans backed by the Small Business Administration. They took solace in knowing they could receive full forgiveness if distributed funds were primarily used […]