PPP Loans for Small Business: Round Two! Tax Deductibility and Simplicity Explained!
Submitted by Miller Financial Group | Red Oak Iowa Financial Advisor on December 29th, 2020
Following months of negotiations, the two houses of Congress have finally come together to pass a second stimulus bill totaling over $900+ billion. Within the new bill, an additional $284 billion is designated toward a new round of Paycheck Protection Program (PPP) loans. With the new package, it also contains clarification spelling out that PPP loans will not be taxable when forgiven.