Opportunities for Small Business in the CARES Act of 2020 (Completed)
The CARES Act provides assistance to small businesses impacted by the coronavirus: grants, loans, employee benefits, and accelerated tax attributes. Congress did not, however, provide one-size-fits-all eligibility rules. Instead, small businesses must determine whether they are eligible for each provision. This webinar outlines the provisions in the legislation so that you help your clients determine what they are eligible for and how to apply for or claim the benefits.
Employee Retention ProgramsDeferred Employer Payroll TaxesTreasury-Backed LoansEmployee Benefits:Short-Time Compensation ArrangementsPaid Sick LeavePaid FMLAAccess to Defined Contribution Retirement FundsExclusion of Employer Payments of Student LoansAccelerated Tax CutsCarryback of Net Operating LossesAcceleration of Corporate Alternative Minimum Tax CreditsIncreased Deduction for Interest ExpenseAccelerated Depreciation of Qualified Improvement PropertyOther Provisions
- Liquidity Measures:
- Deferred Employer Payroll Taxes
- Treasury-Backed Small Business Interruption Loans
- Recognize how to understand liquidity measures
- Identify employee retention strategy
- Recognize and apply employee benefits for small businesses
- Identify and master how to accelerate tax cuts from the TCJA
NASBA Field of Study
Taxes (1 hour)
Basic understanding of tax preparation.