Default Style Register
Daycare.com Forum
Daycare and Taxes>EIDL Loan Interest Deduction
Daycarefamily 07:48 PM 05-23-2020
If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?
Reply
TomCopeland 09:33 AM 05-24-2020
Originally Posted by Daycarefamily:
If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?
It's 100% deductible because it is used exclusively for your business.
Reply
Tags:deduction - loan, loans, sba - loan, tom copeland
Reply Up