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Business owners expecting paycheck protection loan forgiveness can’t deduct expenses

Finance
The Internal Revenue Service (IRS) headquarters in Washington, D.C.Janhvi Bhojwani | CNBCEntrepreneurs who took a forgivable loan this year can't write off certain expenses on their taxes if they expect the debt will be forgiven, according to the IRS and Treasury Department.The two agencies issued guidance Wednesday on the Paycheck Protection Program – an emergency line of funding for small businesses established by the CARES Act.Generally, applicants are eligible for loan forgiveness if they use at least 60% of the proceeds on payroll costs. Businesses that fall short may be eligible for partial forgiveness.Though the program generated plenty of interest – more than 5 million loans were approved, accounting for $ 525 billion – questions have lingered on whether small businesses would be ...
Baby bump photo reveals Game Of Thrones couple expecting first child

Baby bump photo reveals Game Of Thrones couple expecting first child

Entertainment
Game Of Thrones stars Rose Leslie and Kit Harington are reportedly expecting their first child.Leslie's pregnancy was revealed in a photo taken for a magazine interview and uploaded to Instagram. The picture, from digital publication Make Magazine, was posted on fashion editor Ursula Lake's personal account."A very special all woman team photographic shoot capturing Rose at this wonderful time as she prepares for motherhood for the first time!," she said.The couple played Ygritte and Jon Snow in HBO series Game of Thrones, in which they had an on-screen relationship. ...
Ricky Martin expecting fourth child

Ricky Martin expecting fourth child

Entertainment
Sept. 29 (UPI) -- Singer and actor Ricky Martin has announced the impending birth of his fourth child. Entertainment Tonight said the star shared the happy news Saturday, while accepting the National Visibility Award at the Human Rights Campaign National Dinner in Washington, D.C. The organization shared video of the announcement on social media. "Jwan, I don't see you, but my husband Jwan, I love you. My beautiful twins, Valentino and Matteo, they are also here. I love you with all my heart. You're my strength," Martin said with a smile. "Lucia, my baby girl, who is not here with us. She stayed at home with Grandma, for she's also the light of my life. And, by the way, I have to announce that we are pregnant. We are waiting," Martin added. "Alright, I love big families!" Martin, 47, mar...
Alec Baldwin and wife expecting baby after miscarriage heartache

Alec Baldwin and wife expecting baby after miscarriage heartache

Entertainment
Actor Alec Baldwin and his wife Hilaria are expecting a baby, five months after suffering a miscarriage.Hilaria, 35, revealed the couple are expecting their fifth child by sharing a video of the baby's heartbeat on social media. The yoga teacher wrote: "It is still very early... but we have learned that there is a little person inside of me. "The sound of this strong heart makes me so happy - especially because of the loss we experienced in the spring."Hilaria said she wanted to share the news because she and Alec are "excited and don't want to hide the pregnancy". Advertisement "These first few months are tough with exhaustion and nausea... and I don't want to have to pretend that I feel ok," she wrote. In...
Kim Kardashian expecting fourth child via surrogate

Kim Kardashian expecting fourth child via surrogate

Entertainment
Kim Kardashian West has confirmed rumours she is going to have a fourth child, and revealed it will be a boy. The reality TV star and her rapper husband Kanye West will have the baby via a surrogate mother, as they did with their third child Chicago last year.After much speculation, Kardashian West confirmed the news during an appearance with sisters Kourtney and Khloe on Watch What Happens Live with Andy Cohen. "Are you working on another child?" Cohen asked, to which she replied: "We are."The baby will arrive "sometime soon", she said.In response to her sisters, who were shocked to see the 38-year-old announcing news, she said there was no point keeping it secret as the news is already "out there"."I got drunk at our Christmas Eve party and I told some people," she said...