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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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PPP - Tom Copeland Please
Tom,
I heard on the news last night that Congress is trying to (retroactively) make the PPP a grant, which will make it taxable. Whats this about? Have you heard this? |
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I heard the same thing—that it’s taxable income. I guess they can forgive the loan but you still have to pay the taxes on it.
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Paycheck Protection Program
The PPP is a forgivable loan. There is talk about not requiring people who got less than a certain amount not having to show evidence to get forgiveness. There is no effect to make the PPP taxable that I have heard of.
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http://www.tomcopelandblog.com |
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