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Webinar: Business & Individual Tax Planning Guidance Related to COVID-19 & the CARES Act

OnDemand Webinar – Watch Below

The Coronavirus pandemic has spawned a flurry of stimulus legislation and efforts taken by Congress, the Treasury, the IRS, and state & local governments to ease the impact on businesses and individuals. The most sweeping changes have come from Congress’s coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn.

In this timely webinar recorded on April 27, 2020, AAFCPAs’ David McManus, CPA, CGMA, Richard Weiner, CPA, MST, and Josh England, LLM, Esq. present a live, educational Webinar providing key considerations and best practice recommendations related to the CARES Act and timely tax planning opportunities to help business & individual taxpayers navigate this unprecedented situation.

AAFCPAs provides guidance on the CARES Act & COVID-19 tax planning considerations, such as:

  • Extensions of business & individual tax return filing and payment deadlines
  • Payroll Tax Credits and other payroll-related benefits
  • State legislative responses to COVID-19
  • Net Operating Losses and Excess Loss Deductions
  • Interest expense limitations
  • Depreciation modifications for Qualified Investment Property
  • Tax consequences of SBA loan debt forgiveness
  • Retirement plan provisions of the CARES Act, and tax planning opportunities related to individual investments
  • Charitable Contribution Changes in the CARES Act
  • Estate tax valuations & gifting strategies
  • Q&A

Much of the new legislation lacks specific guidance at this point and is subject to interpretation. In this webinar, AAFCPAs assist clients in interpreting available guidance so you may plan and achieve compliance in the most tax-efficient manner.

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About the Authors

David McManus CPA
David McManus, CPA, CGMA
Dave leads AAFCPAs’ Cannabis Business Practice, providing highly coveted tax, entity structure, and business advisory solutions.  Dave has been deeply immersed in understanding the complex financial and operational nuances of the cannabis industry since 2012. He advises multi-state operators, recreational and medical retailers, cultivators, product manufacturers, and investors. He proactively advises clients on risks, opportunities, and tax implications related to market entry, accounting methods, capital structure, debt financing, R&D, M&A, and goodwill impairment. He has led industry training sessions on interpreting and implementing new federal and state marijuana statutes, including compliance with 280E. Dave maintains a strong network of cannabis industry investors, attorneys, bankers, employee compensation and benefits providers, realtors, risk managers, and insurance agents, and he leverages these resources as appropriate to help clients achieve success.
Richard Weiner, CPA, MST, CM&AA
Rich has over 30 years of broad tax experience with a specialty in tax planning and consulting for private and publicly-held businesses. Rich has specific expertise in the Software, Bio-Technology, Medical Device, Life Science, Manufacturing, Retail, Professional Service and Publishing industries, as well as U.S. aspects of international taxation. He works extensively with European companies expanding into the U.S. market. Additional areas of focus include companies and stockholders in transition, including structuring of and planning for Mergers & Acquisitions, planning for changes in ownership and management, and adoption of tax methodologies with a view toward the long term. He is well known in his field and is a frequent speaker on a variety of tax related topics.
Joshua England, Tax Attorney
Joshua England, LLM, Esq.
Josh is a tax strategist with extensive expertise advising high-net-worth individuals, nonprofits, and business owners and investors on effective strategies to ensure tax efficiency, asset protection, well-executed succession plans, and wealth preservation. He has been practicing law since 2000 and focuses his practice on the areas of wealth transfer planning, fiduciary and individual taxation, business structuring to maximize tax efficiency, and advising tax-exempt organizations, foundations and charitable donors.