2021 Tax Refund Bonanza for all Businesses Including PPP Recipients

This is a time-sensitive topic for learning how your clients, even those who received PPP dollars, could now be eligible for Employee Retention Credits tax refunds due to expanded eligibility rules.

On December 27th, the second Coronavirus relief package was signed into law. This law contains significant enhancements to the Employee Retention Credit (ERC) enacted under the CARES Act! Some clients who don’t meet the decline in gross receipts threshold may still qualify. The webinar will outline the new, more robust, qualification rules which will put significant refundable tax credits into your client’s bank accounts. For some, up to $19,000 per employee on the payroll. 20 employees, $380,000 of refundable credits.

The new administration has proposed significant spending and tax law changes that will be addressed by Congress in short order. These proposed changes mostly affect individuals and are in the form of new or expanded credits for families and even some for low-income individuals.

We will cover the most important of these tax changes so you will be prepared to answer client’s questions and tax plans for many in 2021.

Key topics: 

• The new robust qualifications of the ERC credit even for PPP recipients. Up to $19,000 per employee.
• How even PPP recipients, as well as those who do not meet the gross receipt decline ratios, may still qualify. This is huge!
• Review proposed individual tax credits by the new administration. These could affect millions of Americans.
• How to accelerate real estate tax deductions into 2020 and perhaps receive tax refunds. These benefits are temporary and must be taken now.
• How to defer capital gains by using a self -directed Opportunity Zone Fund, newly expanded benefits are now available for the tax deferral benefits.
• How to take full advantage of the temporary tax benefits of the CARES Act.
• How to roll multiple future years of charitable tax deductions into the current year, and only give a single year’s donation now.
• How to plan for ROTH IRA conversions under current favorable tax law.

The benefits of attending this webinar include knowledge and strategies which have meaningful impacts on your clients for years to come.