Member Since: Dec 23rd 2016
Jan 8th 2021
It is interesting to note the article or PPP authority author clearly says the expenses are deductible on forgiven loans. It is silent what happens if the loan has not been applied for to become forgiven in 2020, but did in 2021. Are the exps used as a deduction and the loan converted off the books from a liability to the Retained earnings/Equity in 2020 without getting forgiveness?