Article Date:
August 2020

Word Count:



Raise Hell: Help Lawmakers Make PPP Expenses Tax Deductible

As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package.


And hopefully, in this next package they will include a provision that allows you to deduct business expenses that you pay with your PPP money.


Let’s explain. In the CARES Act, Congress said:1


For purposes of the Internal Revenue Code of 1986, any amount which (but for this subsection) would be includible in gross income of the eligible recipient by reason of forgiveness described in subsection (b) shall be excluded from gross ... Log in to view full article.

Log in to view full article
Already a subscriber?
Email Address


Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
with a money-back guarantee