July 23, 2020
I had accrued bonuses from my fiscal year end of February 29. For decades, we have paid those bonuses out in early May. Since our PPP loan got funded in late April, should I back out all of those bonuses for loan forgiveness since they were actually earned in February, but will show up during my PPP payroll records?
Posted by Armanino Financial Advisory Team
You should include them as a normal business practice which you can demonstrate through historical records.