Fungo Squiggly
Mortal enemy of all things Bucky
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Former Game Champion
'18 BPCFFB II Champ
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And the bad version of this hypothetical is still getting over 350k for free.
It's not surprising that it was poorly written and explained. Apparently the guidelines for owner net income, announced weeks into the program, right before they ran out of money, were there from the start.
And we are still trying to figure out how it applies in your situation....a self-employed persons income is not an expense, so does the loan forgiveness stay tax-free for you to the extent that it 8s based on your “salary”? Who knows?!?
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