State/federal changes in income tax coming
Income tax is a complicated enough subject already. Certain things are income and certain things are not income. Some expenses can be written off and others can’t. Under House Bill 1041, which isn’t law yet but is expected to become law, Hawaii income tax is going to be mirroring certain federal tax law changes and going its own way on some others.
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Can I get clarification about the EIDL please?
I understand that the expenses that gave rise to the PPP Loan forgiven is not allowed in Hawaii as tax deductions.
What about the expenses that were paid with the EIDL that is not to be paid back ?