While the Tax Cuts and Jobs Act of 2017 eliminated many personal itemized deductions, the IRS subsequently clarified that expenses unique to an estate or non-grantor trust would still be…
PPP Loan Forgiveness: What We (Think) We Know, What’s Still Unclear and What Borrowers Can Do Now
Editor’s notes: On June 17, 2020, SBA and Treasury released an update to its standard forgiveness application to reflect program changes under the PPP Flexibility Act, as well as a…
CARES Act Corrects Depreciation Error, Unlocks New Cost Recovery Opportunity for Eligible Businesses
One of the many tax provisions in the Coronavirus Aid, Relief and Economic Security (CARES) Act provides an opportunity for businesses to potentially reap additional tax savings on interior renovations…
CARES Act: Business Income Tax Implications and Planning Opportunities
The historic $2 trillion Coronavirus Aid, Relief and Economic Security Act, (CARES Act) was signed into law on March 27, 2020, and includes a number of significant tax provisions intended…
CARES Act: Financial Planning Considerations for Individuals
Within the nearly 900 pages of the CARES Act are a number of favorable provisions for individual taxpayers that are only available in 2020. These provisions present both opportunity and…
