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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 05-23-2020, 08:48 PM
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Daycarefamily Daycarefamily is offline
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Default EIDL Loan Interest Deduction

If I use 100% of my EIDL loan towards payroll, is the interest 100% deductible or is is subject to time/space %?
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Old 05-24-2020, 10:33 AM
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Default Eidl

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Originally Posted by Daycarefamily View Post
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.
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