Construction Dive quoted National Construction Industry Leader Joseph Natarelli in an article about the disallowance of deductibility for expenses funded by PPP loans that are forgiven.
Construction Dive
By Jenn Goodman
Excerpt:
“They’re saying, ‘If I knew then what I know now, then I wouldn’t have taken the loan and I would have had to lay people off,’” he said. The bottom line for contractors, Natarelli said, is to check with their accountants about tax implications before applying for loan forgiveness.
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