PPP loans is a bookkeeping issue NOT an income tax issue.
In your books you will either :
1) count the loan proceeds as income and take the expenses you paid with it as deductible expenses like normal.
OR
2) enter the loan as a loan on the books and once it is forgiven you must also reduce your expenses by the amount of the forgiven loan.
Either method is correct as long as you are consistent in it's application ... option 1 is the easiest for most folks.
