The Act creates many tax benefits as well as deferred payment obligations which may be received or borne by the target company after closing. Therefore, corporate and tax attorneys representing clients in M&A transactions should be prepared to build in a provision in the acquisition ...
The CARES Act establishes new economic programs for businesses, builds upon programs implemented in Congress’ Phase II relief bill – the Families First Coronavirus Response Act (“FFCRA”), and provides tax relief and other benefits for businesses. We have a series of articles that offer a ...
As part of the CARES Act, employers are able to provide tax-free student loan repayment benefits to employees until January 1, 2021. Employers may contribute up to $5,250 annually toward an employee’s student loans tax-free to the employees. In addition to student loan repayment assistance,...
CARES Act amends 2017 Tax Cuts and Jobs Act to accelerate depreciation on QIP Changes depreciation from 39 years down to 15 with 100% bonus depreciation available for all assets with 20 years or less useful life. Net Operating Loss Rules ...
Small Business with <500 employees, tax exempt nonprofits, those self employed or sole proprietors. Must be in operation on 2/15/2020 and had employees or paid independent contractors. What’s Available Up to 2.5 times the average monthly payroll expense of the business borrower. ...
Taxpayers may need to file amended tax returns to obtain the full benefits of these changes. Modified limitation on business interest deductions For tax years beginning after 2017, the TCJA amended the Internal Revenue Code to limit the deduction for business interest incurred by both corporate and...
On March 27, Congress passed the 2020 Coronavirus Aid, Relief, and Economic Security Act(CARES)to mitigate the negative economic impact of COVID-19. The CARES Act provides small businesses and individuals withextended unemployment insurance benefits, loans for paycheck protection, refundable tax credit...
NEXT VIDEO >> HRAs, or Health Reimbursement Arrangements, are the newest and most convenient way for small business owners to provide tax-free health benefits to their employees without dealing with the hassle of a "one-size-fits-all" style group plan... read more 5 Ways to Help Your Team...
In response, Reed Smith has launched a multidisciplinary CARES Task Force that can answer questions related to issues including but not limited to SBA lending, consumer protection, tax, life sciences and health care, employment, employee benefits, and bankruptcy and restructuring. For additional insigh...
Payment for the provision of employee benefits (including insurance premiums) consisting of group health care coverage, group life, disability, vision, or dental insurance, and retirement benefits Payment of state and local taxes assessed on employee compensation Owner Compensation for independent contracto...