Steven Schechter - Partner and Regional Tax Leader, Northern California, at Moss Adams, discusses the 2020 tax season with Thejo Kote CEO, Airbase. This extraordinary tax year has been marked by an extension of the filing deadline to July 15, and recent CARES Act legislation containing changes to income and payroll taxes.
Included in the Act are changes to the Employee Retention Credit, an extension of payment of Payroll Taxes, modifications to Net Operating Loss provisions, and more. In addition to the tax changes, the session will look at tax considerations for EIDL, SBA bridge loans, and PPP loans that many businesses are relying on for financing.
Tax planning for this year is essential to ensure that companies can take advantage of these new rules, especially now as important deadlines are fast approaching. Our expert will provide examples of ways that companies are being tax-efficient given the latest changes, and how the new laws interact with the extensive modifications resulting from the Tax Cuts and Jobs Act (2017-2018).
