✅RELATED VIDEOS:
1. “PPP 2 APPLICATION CHECKLIST”: https://youtu.be/S3sK1_-VGDc
2. “PPP 2 – NEW TYPES OF EXPENSES ARE FORGIVEN!” :https://youtu.be/oOrocDXUr1U
3. “PPP vs. EIDL: 8 Differences”: https://youtu.be/1OMrimfUfRk
4. “PPP 2.0 – EVERYTHING YOU NEED TO KNOW”: https://youtu.be/XLPBKD6ZqfI
5. “PPP 2 ELIGIBLE PAYROLL COSTS EXPLAINED”: https://youtu.be/jqsG0R26RSY
6. “2021 IMPORTANT TAX DUE DATES”: https://youtu.be/dUy0qEzCnRU
7. “PPP2 S Corp & C Corp Borrowing Limit Calculation”: https://youtu.be/ByT3VlUuQz4
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In today’s video I explain if the PPP loan is taxable and if you are allowed to claim related PPP business expenses as deductions on your tax return.
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WATCH NEXT:

“PPP FORGIVENESS – WAIT TO FILE!”
https://youtu.be/kceoT1db2hc

“PPP – FAQs – Part 1”
https://youtu.be/_8kqzCCvH_A

“PPP – FAQs – Part 2”
https://youtu.be/eQUYXKdB3bM

“PPP FORGIVENESS KEY DATES & TIMELINE”
https://youtu.be/db_OYymHrV4

“PPP ACCRUED INTEREST MUST KNOW INFO”
https://youtu.be/2cpouxaNuEY

“PPP FORGIVENESS APPLICATION DUE DATE”
https://youtu.be/a3CjYSKnamI

“HOW TO SUBMIT PPP LOAN FORGIVENESS APPLICATION STEP BY STEP”
https://youtu.be/419aF5KYKfY

“PPP FORGIVENESS – OCTOBER 2020 NEWS”
https://youtu.be/d_00uHwnis0

“HOW TO MAKE CLIENTS PAY FASTER – 5 EASY STEPS”
https://youtu.be/CqIlE-2cR8c

“EIDL LOAN – TAX IMPLICATIONS”
https://youtu.be/hYu91hhhwh8

“UNEMPLOYMENT BENEFITS – TAXABLE!”
https://youtu.be/kNVUSE4Mkd8

“HOW TO AVOID IRS TAX AUDIT? – RED FLAGS TO AVOID!”
https://youtu.be/CSTaCwoJAH4

“IRS TAX LOOPHOLES THAT WILL SAVE YOU $$$”
https://youtu.be/-Q3xPJuVz9w

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PPP Loan Forgiveness Site To Download the Form:
https://www.sba.gov/sites/default/fil

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Disclaimers: The information provided on this channel should not be construed or relied on as professional advice for any specific fact or circumstance. This channel and its content are designed for entertainment and information purposes only. The content available is created to provide a general overview of a topic and is not a substitute for professional services. Always seek the advice of a finance or a legal professional that would take into account your specific circumstances. Opinions expressed are solely my own. Only publicly available information has been used.

#LenaPetrovaCPA #PPPLoan #PPPLoanKeyDates #PPPSecondRound


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