If you live in Wisconsin, one of the surprises from the last week or so is how the state is planning to treat the PPP loan forgiveness. We thought initially that it would not change taxable income, but it appears that it will. This episode provides an overview of how both Minnesota and Wisconsin will treat the taxability of PPP loan forgivable expenses.
As a partner, I have thorough experience providing tax services to individuals, privately held businesses, nonprofit entities and estates and trusts. I also provide compilation and review services.
