Steel Erectors Association of America

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  • Home
  • Membership
    • Our Members
    • Membership Dues
    • Apply for Membership
    • Trailblazer Referral Program
    • Member Directory
  • Member Tools
    • Membership Directory Upgrade
    • Member Benefits
    • Member to Member Discounts
    • Worker's Comp Insurance
    • Steel Pros Training Portal
    • Craft Training & Apprenticeship
    • Hiring With CareerPlug
    • Job Board
  • Events & Awards
    • Meetings and Upcoming Events
    • SEAA Convention & Trade Show >
      • Trade Show Exhibitor Info
    • Golf Tournaments >
      • Dave Schulz Memorial Golf Tournament
    • Career Fair
    • Webinar Registration
    • Awards >
      • Project of the Year
      • Safety & Craft Training Excellence Awards
      • William Davis Service Award
      • Person of the Year
      • Past Winners
  • News
    • Industry & Safety Info
    • Publications
    • Connector Archives
    • Webinar Archives
    • Photo Gallery
    • Subscribe
  • Resources
    • Hard Hat Sticker Contest
    • Safety Stand-Down
    • Stand Up For Mental Health
    • Industry Events
    • Downloads
    • Industry Links
    • MEMBER DIRECTORY
  • ABOUT SEAA
    • Leadership
    • Our History
    • Get Involved
    • Contact Us
  • Login
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What the New IRS Guidance Means for Your Firm's PPP Loan

12/1/2020

 
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The United States Internal Revenue Service (IRS) has released several items containing guidance related to Paycheck Protection Program (PPP) loans—specifically for businesses planning to seek forgiveness for the loans.


In short, the IRS says that since businesses will not be taxed on the proceeds of a forgiven PPP loan, if a business reasonably believes the loan will be forgiven in the future or the business qualifies for forgiveness, costs related to the loan can not be used as a tax deduction for federal taxes. If the business expects the loan to be forgiven, and the loan is not, in fact, forgiven, the business will be able to deduct the costs from its taxes.  

Click here to read the entire article.


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Who We Are
​Established in 1972, the Steel Erectors Association of America (SEAA) represents structural and reinforcing steel contractors, fabricators, and suppliers that serve this market. Our members include both small contractors (under $3 million revenue annually) and large contractors (over $10 million revenue annually). SEAA is a national organization with members in more than 40 US States and 3 Canadian Provinces.

​353 Jonestown Road, Suite 207, Winston-Salem,  NC 27104

​Phone: (336) 294-8880
​
[email protected]
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