Forum: Daycare and Taxes 07-10-2020, 07:15 AM

Replies: 5 EIDL Loan-Uses Views: 1,892 Posted By TomCopeland EIDL vs. PPP The EIDL "loan" is not forgivable. The EIDL "advance" of $1,000 per employee is forgivable. The PPP is forgivable. If you got both the PPP and the EIDL "advance", you must reduce the forgivable...

Forum: Daycare and Taxes 07-10-2020, 07:13 AM

Replies: 5 EIDL Loan-Uses Views: 1,892 Posted By TomCopeland Eidl Yes, transfer money weekly into your savings account.

Forum: Daycare and Taxes 07-09-2020, 07:00 AM

Replies: 5 EIDL Loan-Uses Views: 1,892 Posted By TomCopeland Eidl You cannot use the EIDL loan for repairs or fixed assets. Fixed assets include items lasting longer than a year: furniture, appliances, fence, deck, home improvement, etc. However, you can use it for...