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Non-Deductibility of PPP Loan Expenses

Non-Deductibility of PPP Loan Expenses

Yesterday, the IRS released two revenue rulings that provide clarification on the non-deductibility of certain expenses paid with forgivable PPP loans. This guidance is in accordance with previous guidance released six months ago. Background Pursuant to the CARES Act,...
Biden Tax Proposal

Biden Tax Proposal

Earlier this month, Joseph Biden was announced as the predicted winner of the 2020 U.S. presidential election. As with most presidential candidates, on the campaign trail, Biden proposed changing the tax laws. He aims to increase taxes on corporations and...