30 Important Tax Tips You Must Know to Reduce Your Taxes! - #25 Would PPP Cause You More Taxes??
Tip #25 Could PPP (Paycheck Protection Program) cause you more taxes? Most of you may have already known that PPP funds are not taxable and payroll expenses (funded through PPP) are fully deductible based on the latest tax updates. Yes, that made this a double bonus! However, mistakes could happen especially if accounting errors occurred, causing business owners to lose their deductions! In this video, we provide important tips you need to know about PPP while filing your taxes in 2020.
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