July 23, 2020
My business pays rent every month to another business that I own which holds the real estate in an LLC. Can I include in my forgivable expenses my related party rent?
Posted by Armanino Financial Advisory Team
Yes. That is a forgivable rent expense so long as:
- There is a written agreement
- It has not changed during the course of the Covered Period
- It was in place prior to February 15, 2020