PPP and EIDL loan expenses
Varies
Can You Write Off PPP and EIDL Loan Expenses?
Short answer: Expenses paid with forgiven PPP money are deductible; EIDL loan interest is deductible as business interest.
Loan principal isn't deductible.
Records to keep: Keep receipts or invoices, proof of payment, and a note of the business purpose for each expense.
BW-B23-00670
medium risk
PPP and EIDL loan expenses
Varies
General Business
Other Expenses
Tax Write-Off Rules
Expenses paid with forgiven PPP money are deductible; EIDL loan interest is deductible as business interest.
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
Expenses paid with forgiven PPP money are deductible; EIDL loan interest is deductible as business interest. Loan principal isn't deductible.
Category
- Tax Write-Off Rules
tax rule
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losses records
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