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CARES ACT : IMMEDIATE CHOICES, LONG TERM CONSEQUENCES

4.3 (85)

Bradley Burnett

Bradley Burnett Tax Seminars, Ltd

Monday, May 11, 2020 | 10:30 AM EDT

2.5 Credits

$40

Subject Area

Taxes

Upcoming Webinars

Course Description

On Friday, March 27, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a historic $2 trillion coronavirus economic stimulus bill. In an attempt to offset the disastrous impact of the coronavirus (COVID-19) on the American economy, Congress enacted the CARES Act, which includes substantial tax changes that impact both individuals and businesses. The rapid-fire explosion of new tax incentives, loan incentives, and other cash cow infusions into America’s COVID-19 infested economy are hitting like a Texas tornado. 

Immediate choices on the table have incredibly hard-hitting long (and short) term consequences. Many of these immediate choices are mutually exclusive. A poorly made decision could tank the company. With no time to burn, accountants have been drug smack into the middle of it. Which way to turn?

This all-new, screaming hot course dives deeply into the middle of it all. We’ll roll up our sleeves and charge into the fray.

MAJOR TOPICS COVERED : 

  • Payroll protection loans vs. employee retention credit vs. payroll tax deferral – Pick one and roll the dice
  • Which loan(s) to choose? Payroll Protection vs. EIDL vs. Other
  • What protocols must be followed to punch through the survival maze?
  • Amended returns for immediate cash: NOL carrybacks, §163(j) tweaks, etc.
  • Playing an extremely smart loss limitation (NOL, basis, at-risk, passive, §461(l) excess business loss and §163(j) business interest expense) game
  • Qualified Improvement Property (QIP) storms the field retroactively
  • Finely crafted gifting and charitable contribution strategies
  • Quick access to qualified plan funds
  • Rollback of required minimum distributions
  • Rebate check strategies (or not)

Learning Objectives

  • To identify the various changes in Payroll Protection Program
  • To identify significant provisions included in the three relief bills recently passed by Congress and signed by President Trump.
  • To identify the strategies of implementing new CARES Act changes that clients can benefit from immediately, to offset the consequences of COVID-19
  • To identify and answer various clients questions about the new tax laws and how it impacts their specific situations.
  • To identify various CARES act unemployment benefits.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

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(
    [no_of_record] => 85
    [average] => 4.2588
)
 

4.3

(85)
52%
31%
12%
4%
2%