Business owners who work hard to grow a business and sell it (hopefully, with a substantial windfall) oftentimes focus on philanthropy and making a difference with their new-found wealth. Successful sellers usually recognize...more
The Consolidated Appropriations Act of 2021 (CAA, Public Law No. 116-260) was signed into law on December 27, 2020. The Act extends and expands changes to the rules of charitable giving enacted under the Coronavirus Aid,...more
We are nearing the end of calendar year 2020 (thankfully!) and it is time to consider end-of-year tax planning. Due to the outcome of the election, there is significantly more certainty about the possibility of tax law...more
For charitably inclined individuals, there is a significant amount of uncertainty brought on by possible policy shifts that may occur if former Vice President Joe Biden is elected and Democrats take a majority in the Senate....more
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes four changes to the rules for charitable income tax deductions:
1. $300 Above-the-Line Charitable Income Deduction (Section 2204 of the CARES...more
Under the CARES Act (Coronavirus Aid, Relief, and Economic Security Act), the federal government will pay 50% of the reimbursable unemployment benefits from March 13, 2020 through December 31, 2020 for those non-profit...more
4/16/2020
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Business Closures ,
Business Interruption ,
CARES Act ,
Centers for Medicare & Medicaid Services (CMS) ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Families First Coronavirus Response Act (FFCRA) ,
Federal Loans ,
Financial Stimulus ,
Health Care Providers ,
Healthcare ,
IRS ,
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Lending ,
Nonprofits ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
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Small Business ,
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Tax Relief ,
Unemployment Insurance