Changing Tax Laws

September 8, 2020

by Robert A. Briskin Federal taxes, including taxes that effect estate planning, may again be changed by Congress after the November 2020 election.  Both Republicans and Democrats have spoken about reforming the federal tax laws after the election.  Additionally, there have been proposals in California…

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    CARES Act Made Changes to Excess Business Losses

    August 31, 2020

    The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns. If you hold an interest in a business, or may…

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      The Possible Tax Consequences of PPP Loans

      August 24, 2020

      If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP Basics The Coronavirus Aid, Relief and Economic Security (CARES) Act, which was enacted…

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        What Does the Executive Action Deferring Payroll Taxes Mean for Employers and Employees?

        August 17, 2020

        On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020. At this point, the taxes are just deferred, meaning they’ll still have to be paid at a…

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          Even If No Money Changes Hands, Bartering Is a Taxable Transaction

          August 10, 2020

          During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. If your business gets involved in bartering, remember that the fair market value of goods that you…

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