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Pay off SBA PPP loan or continue to deduct interest?

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  • Pay off SBA PPP loan or continue to deduct interest?

    I am having a tough time wrapping my head around this situation. Maybe due to the lack of sleep. I have a small amount of principle left on my sba/ppp loan after forgiveness. Should I pay it all back now, or continue to make payments at 0.98% interest? I am an S corp and am close to the phase out / might be a little over for the QBI deduction, so any tax deductions would help in that regard. Continuing the monthly payments wouldn't really be any extra hassle since it is a small amount and I can just set up auto-payment. Thank you.

  • #2
    Define “small amount”.
    Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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