Name: Finances for Family Business Live Webinar - Year-End Tax Update
Date: December 2, 2020
Time: 11:30 AM - 12:30 PM EST
Year-End Tax Update
Jonathan Ciccotelli, CPA, MT, from Meaden & Moore will discuss the importance of how having the right tax strategy will help your family business navigate this time of historic disruption and put you on the right track as a new year begins. His discussion will include:
Payroll Protection Program Loans Planning & Reporting
Impact of otherwise deductible expenses for which loan forgiveness is anticipated or provided by the SBA. We will look at recently issued IRS guidance and examine how it impacts your 2020 tax treatment. Additionally, we will look at Congressional intent regarding expenses used to qualify PPP loans and what might be the appetite to correct in a Biden administration going forward.
Federal Tax Developments with regards to The CARES Act
For businesses we will review this recently enacted legislation as to the impact on net operating loss carrybacks, improved deductibility of business interest expense, qualified improvement property eligible for bonus depreciation, modification to corporate cash charitable contributions, and acceleration of corporate minimum tax credits.
With regards to individuals we will review the recovery rebate credit, penalty free withdrawals for Coronavirus – related distributions from qualified plans, waiver of required minimum distributions for 2020, impact of SECURE Act on inherited non-spousal IRAs, and modifications to charitable contributions.
Tax Policies of President Elect Joseph Biden
Here we will explore what the tax policy for President Elect Biden may look like during his term given the balance of power in the House and Senate. We will address tax matters of importance regarding corporate, individual, social security, carried interests, tax credits, itemized deductions, qualified business income deduction, estate and gift, healthcare, housing, education, and tax planning considerations prior to December 31, 2020.
REGISTER now and join us for this live webinar on Wednesday, 12/2. You'll have the opportunity to submit questions during the session and view a recording post session.
This quarterly forum is generously facilitated and sponsored by Conway Service Provider Meaden & Moore.