TAX IMPLICATIONS AND PLANNING DUE TO COVID-19

Typically in election years, we do not see much in terms of tax law changes. However, 2020 has been a very different year. From the passage of the SECURE Act to the CARES Act there has been a multitude of…

TAX IMPLICATIONS AND PLANNING DUE TO COVID-19

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Typically in election years, we do not see much in terms of tax law changes. However, 2020 has been a very different year. From the passage of the SECURE Act to the CARES Act there has been a multitude of highly important tax changes. These changes come in two forms: Amendments that you can work on right now to get cash into your client’s pockets.Changes that will impact future years that require proper planning.As Corona virus wreaks economic havoc, Congress and IRS have acted swiftly through the tax law in response. These relief efforts cut much deeper and wider than first meet the eye. By now, we’re 3 rounds of legislation and many rounds of IRS (and Labor) guidance into this thing. With all the talk about the PPP loan program, these changes have flown under the radar. This webinar will look at the changes and what you can do to best position clients to take advantage of these clients. With revenues down for most accounting firms, we will also discuss how these changes can help drive additional revenues to make up for other short-falls. Please join us for insights on what’s happened so far and a look ahead to what organizations can do to stay ahead of the curve.

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