Yes, compensation you paid to yourself directly from the PPP loan is not a deductible expense, unless it went through payroll with withholdings, social security...
After doing further research, I have found that money paid from a PPP loan to the self-employed that does not go through payroll is not a deductible expense.
A self-employed person who pays himself/herself from earnings of the business rather than through payroll (payroll requires employee and employer tax), cannot d...
I received a PPP loan as a self-employed individual who files a Schedule C. The loan has been forgiven. I understand that the rent and utilities paid from the l...
