CARES Act Tax Planning Opportunities Summary

CARES Act Tax Planning Opportunities Summary

Reading Time: 2 minutes As of March 27, 2020, the Coronavirus, Aid, Relief and Economic Security Act (CARES Act) was passed due to the needs caused by the global COVID-19 pandemic. The act includes several tax provisions to provide relief and cash flow to businesses...
What Are the CARES Act’s Changes to Section 163(j)?

What Are the CARES Act’s Changes to Section 163(j)?

Reading Time: 3 minutes We are hearing this question more and more now that the CARES Act has passed—are there other tax planning items to examine to minimize the amount of paperwork? Section 163(j) received a major overhaul with the 2017 Tax Cuts and Jobs Act (TCJA)....
How Does the CARES Act Affect R&D Tax Credits?

How Does the CARES Act Affect R&D Tax Credits?

Reading Time: 3 minutes One of the questions we are getting from clients is “If my business has had some recent losses, but we also think we may be eligible for the research and development credit, how does the CARES allow us to maximize the cash tax refunds?” How can...
CARES Act: Are U.S. PE Middle Market Firms Left Out?

CARES Act: Are U.S. PE Middle Market Firms Left Out?

Reading Time: 2 minutes One of the highlights of the recent $2 trillion CARES Act is the Paycheck Protection Program (PPP). The PPP is a loan designed to provide small businesses with the funds necessary to navigate the effects caused by COVID-19. The PPP loans are...
CARES Act – Income Tax Implications

CARES Act – Income Tax Implications

Reading Time: 5 minutes COVID-19 Tax Update The CARES Act includes many income tax implications for both businesses and individuals. Below are summaries of the top provisions from this new legislation. Section 2303 – Modifications for net operating losses The CARES...
CARES Act – Employee Benefit Provisions

CARES Act – Employee Benefit Provisions

Reading Time: 5 minutes COVID-19 Benefit Plan Opportunities The CARES Act includes retirement-based provisions which ease retirement plan hardship and loan regulations in order to make retirement funds available to individuals impacted by the pandemic. The final bill...
2021 Tax Planning Opportunities Coronavirus Legislation

2021 Tax Planning Opportunities Coronavirus Legislation

Reading Time: < 1 minute As a follow-up to our previous article, 2021 Tax Planning Opportunities for the Construction Industry, additional coronavirus relief-related legislation has been passed in addition to the CARES Act. Because many businesses face unparalleled...
Recover Losses with the Employee Retention Credit

Recover Losses with the Employee Retention Credit

Reading Time: 3 minutes The COVID-19 pandemic created significant financial and operational challenges for businesses. The combination of restrictive government orders and fears about virus transmission resulted in an adverse financial effect on families and...