COVID-19 Effects on Tax Planning for 2020 (and Beyond)
There have been several tax changes in 2020 with stimulus packages and massive financial relief bills passed to counter the economic impacts of the COVID-19 pandemic. Now businesses and individuals are turning to the professionals to assure that they aren't stuck with a huge tax bill when the dust settles.
These courses cover the available tax breaks and the road to loan forgiveness for your clients. This 11 CPE hour bundle is designed to keep tax professionals in the know of the latest provisions.
Join expert Greg White, CPA, as he covers the new Families First Coronavirus Response Act signed in to law on March 18, 2020. Included will be detailed computations of the credit calculations. Learn how to determine which taxpayers qualify for the credits (both employers and self-employed persons) and the limitations that apply to the credits.
In accordance with the Stafford Act of 1988, the Federal Emergency Management Agency (FEMA) must coordinate administrative support and assistance to all 50 states for federally declared disasters. This comes with postponements, tax relief, deferrals, and other tax-related changes. For CPAs and professional tax preparers, CCH® CPELink offers a Federally Declared Disaster Areas course that can help provide an understanding of tax provisions for presidentially declared disasters, including the COVID-19 pandemic. This comprehensive federal disaster tax course covers a range of new developments in federal disaster taxation and Notice 2020-18 and how they apply to taxpayers, deadlines, interest, penalties, and more.
About the Course
This self-study course takes a close look at how COVID-19 has changed the world of tax filing. It includes a detailed exploration of the COVID-19 disaster declaration and the related federal tax consequences. It is designed for CPAs, tax preparers, and other financial professionals with a basic understanding of federal taxation law and concepts. The course covers the following topics:
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.
The Families First Coronavirus Response Act and the CARES Act are momentously large stimulus bills intended to provide assistance to individuals and businesses impacted by the coronavirus. This webinar describes the grants, loans, expanded employee and unemployment benefits, and tax provisions designed to provide relief to impacted taxpayers, and considers case studies and examples for how the provisions in the legislation apply in a variety of scenarios. to help clients determine what they are eligible for and how to apply for or claim the benefits.
Among several tax changes in the CARES Act are two providing payroll tax relief for many employers. This webinar explains the employee retention payroll tax credit and the delay for depositing payroll taxes. These rules interact with other credits and tax rules as well as the Families First Coronavirus Response payroll tax credits. Examples and planning considerations are also covered.
CARES 2 was signed into law on April 24. It authorizes an additional $310 billion of PPP loans. We’ll cover issues including:
Tax rules related to medical coverage and care have been prominent since enactment of the Patient Protection and Affordable Care Act of 2010 (the ACA). Much has changed in the last 10 years. In view of COVID-19, additional tax rules were enacted this year (2020), impacting individuals and businesses. Presented by Miles Hutchinson, CGMA, join him as he walks though medical related tax changes for individuals and businesses.
Total: 7 courses (11 CPE hours)