To Repay or Not to Repay?: CARES Act Benefits Impacting Your PPP Decision

As you determine your need and eligibility for Paycheck Protection Loan (PPL) funds this week, make sure to consider the tax implications of your decision. Whether your business receives these tax-free loan funds or not, its tax situation will look very different this year.

Grassi’s Tax advisors hosted a live webinar on May 13 to discuss how the changes to taxable wage base, deductions, incentives and other tax factors will affect both PPL borrowers and non-borrowers.

  • CARES Act tax credits available to non-borrowers
  • Impact of loan forgiveness on your business tax situation
  • IRS ruling on non-deductibility of PPL covered expenses
  • Impact of COVID-19 on TCJA provisions, including Section 199A deduction and Section 163(j) business interest expense limitation
  • Tax planning for losses and insolvency
  • QOZs and other tax savings opportunities in current economic climate